Rent, population, and median household income are important factors to consider for a 1031 exchange in Riverhead due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Riverhead, New York is a part of the Brookhaven/East Suffolk Submarket submarket area, and contains zip code 11901.
Riverhead Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Riverhead, NY submarket area was $1,797, which is 14.97% higher than 2014 average rent. This represents a compounded annual growth rate of 2.83%. 2019 vacancy in Riverhead, NY was 2.30%.
The total population of the city of Riverhead, NY has grown 0.10% since 2010. As of 2018, the population was 33,539. The median household income of the Riverhead was $72,134, which is 19.64% higher than the national average.
- submarket area Brookhaven / East Suffolk Submarket
- avg rent $1,797
- rent growth 14.97%
- vacancy 2.30%
- median income $72,134
- population (2018) 33,539
- population growth 0.10%
- vs. nat'l avg 19.64%
- zip code 11901