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1031 Exchange Lackawanna, New York

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Lackawanna due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

Lackawanna, New York is a part of the South Submarket submarket area.

Lackawanna Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Lackawanna, NY submarket area was $968, which is 25.71% lower than 2014 average rent. This represents a compounded annual growth rate of 4.68%. 2019 vacancy in Lackawanna, NY was 3.30%.

The total population of the city of Lackawanna, NY has decreased 2.06% since 2010. As of 2018, the population was 17,768. The median household income of the Lackawanna was $37,258, which is 38.21% lower than the national average.

  • submarket area South Submarket
  • avg rent $968
  • rent growth 25.71%
  • vacancy 3.30%
  • median income $37,258
  • population (2018) 17,768
  • population growth -2.06%
  • vs. nat'l avg 38.21%

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