1031 Exchange North Hempstead, New York

 

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%

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