Rent, population, and median household income are important factors to consider for a 1031 exchange in Wheatfield due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Wheatfield, New York is a part of the North Submarket submarket area.
Wheatfield Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Wheatfield, NY submarket area was $994, which is 11.43% higher than 2014 average rent. This represents a compounded annual growth rate of 2.19%. 2019 vacancy in Wheatfield, NY was 2.50%.
The total population of the city of Wheatfield, NY has grown 0.01% since 2010. As of 2018, the population was 18,118. The median household income of the Wheatfield was $79,549, which is 31.94% higher than the national average.
- submarket area North Submarket
- avg rent $994
- rent growth 11.43%
- vacancy 2.50%
- median income $79,549
- population (2018) 18,118
- population growth 0.01%
- vs. nat'l avg 31.94%