Rent, population, and median household income are important factors to consider for a 1031 exchange in North Hempstead due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
North Hempstead, New York is a part of the Nassau County Submarket submarket area.
North Hempstead Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the North Hempstead, NY submarket area was $2,406, which is 23.96% higher than 2014 average rent. This represents a compounded annual growth rate of 4.39%. 2019 vacancy in North Hempstead, NY was 4.40%.
The total population of the city of North Hempstead, NY has grown 2.12% since 2010. As of 2018, the population was 231,117. The median household income of the North Hempstead was $117,750, which is 95.30% higher than the national average.
- submarket area Nassau County Submarket
- avg rent $2,406
- rent growth 23.96%
- vacancy 4.40%
- median income $117,750
- population (2018) 231,117
- population growth 2.12%
- vs. nat'l avg 95.30%