Rent, population, and median household income are important factors to consider for a 1031 exchange in Castle Shannon due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Castle Shannon, Pennsylvania is a part of the Whitehall/Baldwin/West Mifflin Submarket submarket area.
Castle Shannon Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Castle Shannon, PA submarket area was $872, which is 24.39% lower than 2014 average rent. This represents a compounded annual growth rate of 4.46%. 2019 vacancy in Castle Shannon, PA was 4.90%.
The total population of the city of Castle Shannon, PA has decreased 0.73% since 2010. As of 2018, the population was 8,255. The median household income of the Castle Shannon was $55,484, which is 7.98% lower than the national average.
- submarket area Whitehall / Baldwin / West Mifflin Submarket
- avg rent $872
- rent growth 24.39%
- vacancy 4.90%
- median income $55,484
- population (2018) 8,255
- population growth -0.73%
- vs. nat'l avg 7.98%