Rent, population, and median household income are important factors to consider for a 1031 exchange in Albany-Lebanon due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan Area
Albany-Lebanon, Oregon is a part of the Albany-Lebanon, OR metropolitan area, and contains 3 zip codes: 97355, 97322, and 97321.
Albany-Lebanon Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Albany-Lebanon, OR metropolitan area was $928, which is 21.78% lower than 2014 average rent. This represents a compounded annual growth rate of 4.02%. 2019 vacancy in Albany-Lebanon, OR was 1.40%.
The total population of the city of Albany-Lebanon, OR has grown 8.56% since 2010. As of 2018, the population was 54,453. The median household income of the Albany-Lebanon was $55,263, which is 8.34% lower than the national average.
- metropolitan area Albany-Lebanon, OR
- avg rent $928
- rent growth 21.78%
- vacancy 1.40%
- median income $55,263
- population (2018) 54,453
- population growth 8.56%
- vs. nat'l avg 8.34%
- zip codes 97321 97322 97355