1031 Exchange New Rochelle, New York

 

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

Surrounding submarket Area

New Rochelle, New York is a part of the Southern Westchester Submarket submarket area, and contains 4 zip codes: 10804, 10805, 10801, and 10802.

New Rochelle Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the New Rochelle, NY submarket area was $2,155, which is 19.13% higher than 2014 average rent. This represents a compounded annual growth rate of 3.56%. 2019 vacancy in New Rochelle, NY was 4.50%.

The total population of the city of New Rochelle, NY has grown 2.18% since 2010. As of 2018, the population was 78,742. The median household income of the New Rochelle was $80,918, which is 34.21% higher than the national average.

  • submarket area Southern Westchester Submarket
  • avg rent $2,155
  • rent growth 19.13%
  • vacancy 4.50%
  • median income $80,918
  • population (2018) 78,742
  • population growth 2.18%
  • vs. nat'l avg 34.21%
  • zip codes 10801 10802 10804 10805

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