1031 Exchange Lockport, New York

 

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

Surrounding submarket Area

Lockport, New York is a part of the North Submarket submarket area, and contains zip codes 14094 and 14095.

Lockport Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Lockport, NY submarket area was $994, which is 11.43% higher than 2014 average rent. This represents a compounded annual growth rate of 2.19%. 2019 vacancy in Lockport, NY was 2.50%.

The total population of the city of Lockport, NY has decreased 2.21% since 2010. As of 2018, the population was 20,076. The median household income of the Lockport was $63,548, which is 5.40% higher than the national average.

  • submarket area North Submarket
  • avg rent $994
  • rent growth 11.43%
  • vacancy 2.50%
  • median income $63,548
  • population (2018) 20,076
  • population growth -2.21%
  • vs. nat'l avg 5.40%
  • zip codes 14094 14095

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