Rent, population, and median household income are important factors to consider for a 1031 exchange in Economy due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Economy, Pennsylvania is a part of the North Submarket submarket area.
Economy Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Economy, PA submarket area was $1,148, which is 17.26% higher than 2014 average rent. This represents a compounded annual growth rate of 3.24%. 2019 vacancy in Economy, PA was 4.30%.
The total population of the city of Economy, PA has grown 1.61% since 2010. As of 2018, the population was 9,114. The median household income of the Economy was $80,208, which is 33.03% higher than the national average.
- submarket area North Submarket
- avg rent $1,148
- rent growth 17.26%
- vacancy 4.30%
- median income $80,208
- population (2018) 9,114
- population growth 1.61%
- vs. nat'l avg 33.03%