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1031 Exchange Lower Merion, Pennsylvania

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Lower Merion due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

Lower Merion, Pennsylvania is a part of the Upper/Lower Merion Submarket submarket area.

Lower Merion Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Lower Merion, PA submarket area was $1,688, which is 35.91% higher than 2014 average rent. This represents a compounded annual growth rate of 6.33%. 2019 vacancy in Lower Merion, PA was 5.50%.

The total population of the city of Lower Merion, PA has grown 3.03% since 2010. As of 2018, the population was 59,578. The median household income of the Lower Merion was $131,556, which is 118.19% higher than the national average.

  • submarket area Upper / Lower Merion Submarket
  • avg rent $1,688
  • rent growth 35.91%
  • vacancy 5.50%
  • median income $131,556
  • population (2018) 59,578
  • population growth 3.03%
  • vs. nat'l avg 118.19%

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