Rent, population, and median household income are important factors to consider for a 1031 exchange in Manchester due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Manchester, New York is a part of the Southeast Monroe/East Counties Submarket submarket area, and contains zip code 14504.
Manchester Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Manchester, 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 Manchester, NY was 4.60%.
The total population of the city of Manchester, NY has decreased 2.15% since 2010. As of 2018, the population was 9,193. The median household income of the Manchester was $51,813, which is 14.06% 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 $51,813
- population (2018) 9,193
- population growth -2.15%
- vs. nat'l avg 14.06%
- zip code 14504
