Rent, population, and median household income are important factors to consider for a 1031 exchange in Newstead due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Newstead, New York is a part of the North Submarket submarket area.
Newstead Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Newstead, NY submarket area was $994, which is 11.43% higher than 2014 average rent. This represents a compounded annual growth rate of 2.19%. 2019 vacancy in Newstead, NY was 2.50%.
The total population of the city of Newstead, NY has grown 1.19% since 2010. As of 2018, the population was 8,696. The median household income of the Newstead was $61,021, which is 1.21% higher than the national average.
- submarket area North Submarket
- avg rent $994
- rent growth 11.43%
- vacancy 2.50%
- median income $61,021
- population (2018) 8,696
- population growth 1.19%
- vs. nat'l avg 1.21%