Rent, population, and median household income are important factors to consider for a 1031 exchange in Islip due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Islip, New York is a part of the West Suffolk Submarket submarket area, and contains zip code 11751.
Islip Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Islip, NY submarket area was $1,891, which is 16.94% higher than 2014 average rent. This represents a compounded annual growth rate of 3.18%. 2019 vacancy in Islip, NY was 2.10%.
The total population of the city of Islip, NY has decreased 1.38% since 2010. As of 2018, the population was 330,914. The median household income of the Islip was $94,325, which is 56.44% higher than the national average.
- submarket area West Suffolk Submarket
- avg rent $1,891
- rent growth 16.94%
- vacancy 2.10%
- median income $94,325
- population (2018) 330,914
- population growth -1.38%
- vs. nat'l avg 56.44%
- zip code 11751