Rent, population, and median household income are important factors to consider for a 1031 exchange in Ithaca due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan Area
Ithaca, New York is a part of the Ithaca, NY metropolitan area, and contains 4 zip codes: 14851, 14850, 14852, and 14853.
Ithaca Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Ithaca, NY metropolitan area was $1,603, which is 31.39% lower than 2014 average rent. This represents a compounded annual growth rate of 5.61%. 2019 vacancy in Ithaca, NY was 8.50%.
The total population of the city of Ithaca, NY has grown 3.28% since 2010. As of 2018, the population was 30,999. The median household income of the Ithaca was $32,712, which is 45.74% lower than the national average.
- metropolitan area Ithaca, NY
- avg rent $1,603
- rent growth 31.39%
- vacancy 8.50%
- median income $32,712
- population (2018) 30,999
- population growth 3.28%
- vs. nat'l avg 45.74%
- zip codes 14850 14851 14852 14853