1031 Exchange Rochester, New York

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Rochester due to their correlations with market demand, and conversely, vacancy rate.

Surrounding metropolitan Area

Rochester, New York is a part of the Rochester, NY metropolitan area, and contains 40 zip codes, including: 14604, 14644, 14619, 14612, 14643, and 14616.

Rochester Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Rochester, NY metropolitan area was $968, which is 18.19% lower than 2014 average rent. This represents a compounded annual growth rate of 3.40%. 2019 vacancy in Rochester, NY was 3.90%.

The total population of the city of Rochester, NY has decreased 2.03% since 2010. As of 2018, the population was 206,284. The median household income of the Rochester was $33,399, which is 44.61% lower than the national average.

  • metropolitan area Rochester, NY
  • avg rent $968
  • rent growth 18.19%
  • vacancy 3.90%
  • median income $33,399
  • population (2018) 206,284
  • population growth -2.03%
  • vs. nat'l avg 44.61%
  • zip codes 14602 14603 14604 14605 14606 14607 14608 14609 14610 14611 14612 14613 14614 14615 14616 14617 14618 14619 14620 14621 14622 14623 14624 14625 14626 14627 14638 14639 14642 14643 14644 14646 14647 14649 14650 14651 14652 14653 14692 14694

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