Rent, population, and median household income are important factors to consider for a 1031 exchange in New Kensington due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
New Kensington, Pennsylvania is a part of the North Submarket submarket area, and contains zip codes 15068 and 15069.
New Kensington Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the New Kensington, PA submarket area was $1,148, which is 17.26% lower than 2014 average rent. This represents a compounded annual growth rate of 3.24%. 2019 vacancy in New Kensington, PA was 4.30%.
The total population of the city of New Kensington, PA has decreased 5.74% since 2010. As of 2018, the population was 12,363. The median household income of the New Kensington was $41,691, which is 30.85% lower than the national average.
- submarket area North Submarket
- avg rent $1,148
- rent growth 17.26%
- vacancy 4.30%
- median income $41,691
- population (2018) 12,363
- population growth -5.74%
- vs. nat'l avg 30.85%
- zip codes 15068 15069
