1031 Exchange North Syracuse, New York

 

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%

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