Rent, population, and median household income are important factors to consider for a 1031 exchange in Forest Hills due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Forest Hills, Pennsylvania is a part of the Wilkinsburg/Penn Hills Submarket submarket area.
Forest Hills Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Forest Hills, PA submarket area was $894, which is 17.63% higher than 2014 average rent. This represents a compounded annual growth rate of 3.30%. 2019 vacancy in Forest Hills, PA was 4.00%.
The total population of the city of Forest Hills, PA has decreased 3.21% since 2010. As of 2018, the population was 6,309. The median household income of the Forest Hills was $69,044, which is 14.51% higher than the national average.
- submarket area Wilkinsburg / Penn Hills Submarket
- avg rent $894
- rent growth 17.63%
- vacancy 4.00%
- median income $69,044
- population (2018) 6,309
- population growth -3.21%
- vs. nat'l avg 14.51%