Rent, population, and median household income are important factors to consider for a 1031 exchange in Lower Makefield due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Lower Makefield, Pennsylvania is a part of the Upper Bucks County Submarket submarket area.
Lower Makefield Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Lower Makefield, PA submarket area was $1,307, which is 9.92% higher than 2014 average rent. This represents a compounded annual growth rate of 1.91%. 2019 vacancy in Lower Makefield, PA was 3.00%.
The total population of the city of Lower Makefield, PA has grown 0.62% since 2010. As of 2018, the population was 32,761. The median household income of the Lower Makefield was $145,986, which is 142.13% higher than the national average.
- submarket area Upper Bucks County Submarket
- avg rent $1,307
- rent growth 9.92%
- vacancy 3.00%
- median income $145,986
- population (2018) 32,761
- population growth 0.62%
- vs. nat'l avg 142.13%