Rent, population, and median household income are important factors to consider for a 1031 exchange in North Syracuse due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
North Syracuse, New York is a part of the North/Airport Submarket submarket area.
North Syracuse Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the North Syracuse, NY submarket area was $912, which is 14.72% lower than 2014 average rent. This represents a compounded annual growth rate of 2.78%. 2019 vacancy in North Syracuse, NY was 4.80%.
The total population of the city of North Syracuse, NY has decreased 2.09% since 2010. As of 2018, the population was 6,658. The median household income of the North Syracuse was $51,402, which is 14.75% lower than the national average.
- submarket area North / Airport Submarket
- avg rent $912
- rent growth 14.72%
- vacancy 4.80%
- median income $51,402
- population (2018) 6,658
- population growth -2.09%
- vs. nat'l avg 14.75%