Rent, population, and median household income are important factors to consider for a 1031 exchange in Falls due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Falls, Pennsylvania is a part of the Lower Bucks Submarket submarket area, and contains zip code 18615.
Falls Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Falls, PA submarket area was $1,229, which is 20.25% higher than 2014 average rent. This represents a compounded annual growth rate of 3.76%. 2019 vacancy in Falls, PA was 2.30%.
The total population of the city of Falls, PA has decreased 1.55% since 2010. As of 2018, the population was 33,769. The median household income of the Falls was $72,519, which is 20.28% higher than the national average.
- submarket area Lower Bucks Submarket
- avg rent $1,229
- rent growth 20.25%
- vacancy 2.30%
- median income $72,519
- population (2018) 33,769
- population growth -1.55%
- vs. nat'l avg 20.28%
- zip code 18615