Rent, population, and median household income are important factors to consider for a 1031 exchange in Syracuse due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan Area
Syracuse, New York is a part of the Syracuse, NY metropolitan area, and contains 28 zip codes, including: 13208, 13250, 13224, 13220, 13204, and 13261.
Syracuse Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Syracuse, NY metropolitan area was $863, which is 16.78% lower than 2014 average rent. This represents a compounded annual growth rate of 3.15%. 2019 vacancy in Syracuse, NY was 4.50%.
The total population of the city of Syracuse, NY has decreased 1.67% since 2010. As of 2018, the population was 142,749. The median household income of the Syracuse was $36,308, which is 39.78% lower than the national average.
- metropolitan area Syracuse, NY
- avg rent $863
- rent growth 16.78%
- vacancy 4.50%
- median income $36,308
- population (2018) 142,749
- population growth -1.67%
- vs. nat'l avg 39.78%
- zip codes 13201 13202 13203 13204 13205 13206 13207 13208 13209 13210 13211 13212 13214 13215 13217 13218 13219 13220 13221 13224 13225 13235 13244 13250 13251 13252 13261 13290
