Rent, population, and median household income are important factors to consider for a 1031 exchange in Rockville due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Rockville, New York is a part of the Nassau County Submarket submarket area.
Rockville Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Rockville, NY submarket area was $2,406, which is 23.96% higher than 2014 average rent. This represents a compounded annual growth rate of 4.39%. 2019 vacancy in Rockville, NY was 4.40%.
The total population of the city of Rockville, NY has grown 2.41% since 2010. As of 2018, the population was 24,602. The median household income of the Rockville was $114,483, which is 89.88% higher than the national average.
- submarket area Nassau County Submarket
- avg rent $2,406
- rent growth 23.96%
- vacancy 4.40%
- median income $114,483
- population (2018) 24,602
- population growth 2.41%
- vs. nat'l avg 89.88%