Rent, population, and median household income are important factors to consider for a 1031 exchange in West Seneca due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
West Seneca, New York is a part of the South Submarket submarket area.
West Seneca Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the West Seneca, NY submarket area was $968, which is 25.71% higher than 2014 average rent. This represents a compounded annual growth rate of 4.68%. 2019 vacancy in West Seneca, NY was 3.30%.
The total population of the city of West Seneca, NY has grown 1.37% since 2010. As of 2018, the population was 45,325. The median household income of the West Seneca was $66,464, which is 10.24% higher than the national average.
- submarket area South Submarket
- avg rent $968
- rent growth 25.71%
- vacancy 3.30%
- median income $66,464
- population (2018) 45,325
- population growth 1.37%
- vs. nat'l avg 10.24%