1031 Exchange Southport, New York

 

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

Surrounding submarket Area

Southport, New York is a part of the Brookhaven/East Suffolk Submarket submarket area.

Southport Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Southport, NY submarket area was $1,797, which is 14.97% lower than 2014 average rent. This represents a compounded annual growth rate of 2.83%. 2019 vacancy in Southport, NY was 2.30%.

The total population of the city of Southport, NY has decreased 8.62% since 2010. As of 2018, the population was 9,997. The median household income of the Southport was $54,403, which is 9.77% lower than the national average.

  • submarket area Brookhaven / East Suffolk Submarket
  • avg rent $1,797
  • rent growth 14.97%
  • vacancy 2.30%
  • median income $54,403
  • population (2018) 9,997
  • population growth -8.62%
  • vs. nat'l avg 9.77%

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