Rent, population, and median household income are important factors to consider for a 1031 exchange in Butler due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Butler, Pennsylvania is a part of the North Submarket submarket area, and contains 3 zip codes: 16003, 16001, and 16002.
Butler Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Butler, PA submarket area was $1,148, which is 17.26% lower than 2014 average rent. This represents a compounded annual growth rate of 3.24%. 2019 vacancy in Butler, PA was 4.30%.
The total population of the city of Butler, PA has decreased 5.55% since 2010. As of 2018, the population was 12,993. The median household income of the Butler was $33,034, which is 45.21% lower than the national average.
- submarket area North Submarket
- avg rent $1,148
- rent growth 17.26%
- vacancy 4.30%
- median income $33,034
- population (2018) 12,993
- population growth -5.55%
- vs. nat'l avg 45.21%
- zip codes 16001 16002 16003