Rent, population, and median household income are important factors to consider for a 1031 exchange in Lower Providence due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Lower Providence, Pennsylvania is a part of the NE Chester/Upper Montgomery County Submarket submarket area.
Lower Providence Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Lower Providence, PA submarket area was $1,325, which is 20.67% higher than 2014 average rent. This represents a compounded annual growth rate of 3.83%. 2019 vacancy in Lower Providence, PA was 4.00%.
The total population of the city of Lower Providence, PA has grown 5.41% since 2010. As of 2018, the population was 26,812. The median household income of the Lower Providence was $94,020, which is 55.94% higher than the national average.
- submarket area NE Chester / Upper Montgomery County Submarket
- avg rent $1,325
- rent growth 20.67%
- vacancy 4.00%
- median income $94,020
- population (2018) 26,812
- population growth 5.41%
- vs. nat'l avg 55.94%