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1031 Exchange Mendon, New York

 

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

Surrounding submarket Area

Mendon, New York is a part of the Southeast Monroe/East Counties Submarket submarket area, and contains zip code 14506.

Mendon Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Mendon, NY submarket area was $1,192, which is 20.89% higher than 2014 average rent. This represents a compounded annual growth rate of 3.87%. 2019 vacancy in Mendon, NY was 4.60%.

The total population of the city of Mendon, NY has grown 0.74% since 2010. As of 2018, the population was 9,220. The median household income of the Mendon was $101,750, which is 68.76% higher than the national average.

  • submarket area Southeast Monroe / East Counties Submarket
  • avg rent $1,192
  • rent growth 20.89%
  • vacancy 4.60%
  • median income $101,750
  • population (2018) 9,220
  • population growth 0.74%
  • vs. nat'l avg 68.76%
  • zip code 14506

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