Rent, population, and median household income are important factors to consider for a 1031 exchange in Media due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Media, Pennsylvania is a part of the West Delaware Submarket submarket area, and contains 3 zip codes: 19063, 19065, and 19091.
Media Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Media, PA submarket area was $1,219, which is 24.26% higher than 2014 average rent. This represents a compounded annual growth rate of 4.44%. 2019 vacancy in Media, PA was 3.70%.
The total population of the city of Media, PA has grown 6.40% since 2010. As of 2018, the population was 5,668. The median household income of the Media was $71,841, which is 19.15% higher than the national average.
- submarket area West Delaware Submarket
- avg rent $1,219
- rent growth 24.26%
- vacancy 3.70%
- median income $71,841
- population (2018) 5,668
- population growth 6.40%
- vs. nat'l avg 19.15%
- zip codes 19063 19065 19091
