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: 10802, 10805, 10804, and 10801.
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