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
