Rent, population, and median household income are important factors to consider for a 1031 exchange in Mount Vernon due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Mount Vernon, New York is a part of the Southern Westchester Submarket submarket area, and contains 4 zip codes: 10553, 10552, 10550, and 10551.
Mount Vernon Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Mount Vernon, NY submarket area was $2,155, which is 19.13% lower than 2014 average rent. This represents a compounded annual growth rate of 3.56%. 2019 vacancy in Mount Vernon, NY was 4.50%.
The total population of the city of Mount Vernon, NY has grown 0.45% since 2010. As of 2018, the population was 67,593. The median household income of the Mount Vernon was $57,109, which is 5.28% lower than the national average.
- submarket area Southern Westchester Submarket
- avg rent $2,155
- rent growth 19.13%
- vacancy 4.50%
- median income $57,109
- population (2018) 67,593
- population growth 0.45%
- vs. nat'l avg 5.28%
- zip codes 10550 10551 10552 10553