Rent, population, and median household income are important factors to consider for a 1031 exchange in White Plains due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
White Plains, New York is a part of the Central Westchester Submarket submarket area, and contains 7 zip codes, including: 16062, 10607, 16061, 10606, 10603, and 10610.
White Plains Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the White Plains, NY submarket area was $2,791, which is 12.54% higher than 2014 average rent. This represents a compounded annual growth rate of 2.39%. 2019 vacancy in White Plains, NY was 5.50%.
The total population of the city of White Plains, NY has grown 2.21% since 2010. As of 2018, the population was 58,111. The median household income of the White Plains was $84,415, which is 40.01% higher than the national average.
- submarket area Central Westchester Submarket
- avg rent $2,791
- rent growth 12.54%
- vacancy 5.50%
- median income $84,415
- population (2018) 58,111
- population growth 2.21%
- vs. nat'l avg 40.01%
- zip codes 16061 16062 10603 10605 10606 10607 10610