Rent, population, and median household income are important factors to consider for a 1031 exchange in Pendleton due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Pendleton, New York is a part of the North Submarket submarket area.
Pendleton Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Pendleton, NY submarket area was $994, which is 11.43% higher than 2014 average rent. This represents a compounded annual growth rate of 2.19%. 2019 vacancy in Pendleton, NY was 2.50%.
The total population of the city of Pendleton, NY has grown 6.14% since 2010. As of 2018, the population was 6,790. The median household income of the Pendleton was $92,065, which is 52.70% higher than the national average.
- submarket area North Submarket
- avg rent $994
- rent growth 11.43%
- vacancy 2.50%
- median income $92,065
- population (2018) 6,790
- population growth 6.14%
- vs. nat'l avg 52.70%
