Rent, population, and median household income are important factors to consider for a 1031 exchange in Oakmont due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Oakmont, Pennsylvania is a part of the Wilkinsburg/Penn Hills Submarket submarket area, and contains zip code 15139.
Oakmont Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Oakmont, PA submarket area was $894, which is 17.63% higher than 2014 average rent. This represents a compounded annual growth rate of 3.30%. 2019 vacancy in Oakmont, PA was 4.00%.
The total population of the city of Oakmont, PA has grown 3.70% since 2010. As of 2018, the population was 6,536. The median household income of the Oakmont was $64,054, which is 6.24% higher than the national average.
- submarket area Wilkinsburg / Penn Hills Submarket
- avg rent $894
- rent growth 17.63%
- vacancy 4.00%
- median income $64,054
- population (2018) 6,536
- population growth 3.70%
- vs. nat'l avg 6.24%
- zip code 15139