Rent, population, and median household income are important factors to consider for a 1031 exchange in Lyons due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Lyons, New York is a part of the Southeast Monroe/East Counties Submarket submarket area, and contains zip code 14489.
Lyons Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Lyons, NY submarket area was $1,192, which is 20.89% lower than 2014 average rent. This represents a compounded annual growth rate of 3.87%. 2019 vacancy in Lyons, NY was 4.60%.
The total population of the city of Lyons, NY has decreased 4.68% since 2010. As of 2018, the population was 5,416. The median household income of the Lyons was $54,274, which is 9.98% lower than the national average.
- submarket area Southeast Monroe / East Counties Submarket
- avg rent $1,192
- rent growth 20.89%
- vacancy 4.60%
- median income $54,274
- population (2018) 5,416
- population growth -4.68%
- vs. nat'l avg 9.98%
- zip code 14489