Rent, population, and median household income are important factors to consider for a 1031 exchange in Bensalem due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Bensalem, Pennsylvania is a part of the Torresdale/Bensalem Submarket submarket area, and contains zip code 19020.
Bensalem Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Bensalem, PA submarket area was $1,123, which is 12.86% higher than 2014 average rent. This represents a compounded annual growth rate of 2.45%. 2019 vacancy in Bensalem, PA was 2.30%.
The total population of the city of Bensalem, PA has grown 0.32% since 2010. As of 2018, the population was 60,622. The median household income of the Bensalem was $63,943, which is 6.05% higher than the national average.
- submarket area Torresdale / Bensalem Submarket
- avg rent $1,123
- rent growth 12.86%
- vacancy 2.30%
- median income $63,943
- population (2018) 60,622
- population growth 0.32%
- vs. nat'l avg 6.05%
- zip code 19020