1031 Exchange Norwood, Pennsylvania

 

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

Surrounding submarket Area

Norwood, Pennsylvania is a part of the East Delaware County Submarket submarket area, and contains zip code 19074.

Norwood Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Norwood, PA submarket area was $959, which is 12.03% higher than 2014 average rent. This represents a compounded annual growth rate of 2.30%. 2019 vacancy in Norwood, PA was 1.80%.

The total population of the city of Norwood, PA has decreased 0.14% since 2010. As of 2018, the population was 5,882. The median household income of the Norwood was $77,034, which is 27.77% higher than the national average.

  • submarket area East Delaware County Submarket
  • avg rent $959
  • rent growth 12.03%
  • vacancy 1.80%
  • median income $77,034
  • population (2018) 5,882
  • population growth -0.14%
  • vs. nat'l avg 27.77%
  • zip code 19074

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