Rent, population, and median household income are important factors to consider for a 1031 exchange in Pelham Manor due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Pelham Manor, New York is a part of the Southern Westchester Submarket submarket area.
Pelham Manor Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Pelham Manor, NY submarket area was $2,155, which is 19.13% higher than 2014 average rent. This represents a compounded annual growth rate of 3.56%. 2019 vacancy in Pelham Manor, NY was 4.50%.
The total population of the city of Pelham Manor, NY has grown 1.40% since 2010. As of 2018, the population was 5,563. The median household income of the Pelham Manor was $163,958, which is 171.94% higher than the national average.
- submarket area Southern Westchester Submarket
- avg rent $2,155
- rent growth 19.13%
- vacancy 4.50%
- median income $163,958
- population (2018) 5,563
- population growth 1.40%
- vs. nat'l avg 171.94%