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1031 Exchange Southold, New York

 

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

Surrounding submarket Area

Southold, New York is a part of the Brookhaven/East Suffolk Submarket submarket area, and contains zip code 11971.

Southold Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Southold, 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 Southold, NY was 2.30%.

The total population of the city of Southold, NY has grown 0.71% since 2010. As of 2018, the population was 22,125. The median household income of the Southold was $80,715, which is 33.87% higher than the national average.

  • submarket area Brookhaven / East Suffolk Submarket
  • avg rent $1,797
  • rent growth 14.97%
  • vacancy 2.30%
  • median income $80,715
  • population (2018) 22,125
  • population growth 0.71%
  • vs. nat'l avg 33.87%
  • zip code 11971

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