Rent, population, and median household income are important factors to consider for a 1031 exchange in Southampton due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Southampton, New York is a part of the Brookhaven/East Suffolk Submarket submarket area, and contains zip codes 11968 and 11969.
Southampton Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Southampton, 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 Southampton, NY was 2.30%.
The total population of the city of Southampton, NY has grown 2.68% since 2010. As of 2018, the population was 58,314. The median household income of the Southampton was $89,199, which is 47.94% higher than the national average.
- submarket area Brookhaven / East Suffolk Submarket
- avg rent $1,797
- rent growth 14.97%
- vacancy 2.30%
- median income $89,199
- population (2018) 58,314
- population growth 2.68%
- vs. nat'l avg 47.94%
- zip codes 11968 11969