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1031 Exchange Smithtown, New York

 

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

Surrounding submarket Area

Smithtown, New York is a part of the West Suffolk Submarket submarket area, and contains zip code 11787.

Smithtown Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Smithtown, NY submarket area was $1,891, which is 16.94% higher than 2014 average rent. This represents a compounded annual growth rate of 3.18%. 2019 vacancy in Smithtown, NY was 2.10%.

The total population of the city of Smithtown, NY has decreased 1.20% since 2010. As of 2018, the population was 116,384. The median household income of the Smithtown was $123,217, which is 104.36% higher than the national average.

  • submarket area West Suffolk Submarket
  • avg rent $1,891
  • rent growth 16.94%
  • vacancy 2.10%
  • median income $123,217
  • population (2018) 116,384
  • population growth -1.20%
  • vs. nat'l avg 104.36%
  • zip code 11787

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