1031 Exchange Palmyra, Pennsylvania


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

Surrounding submarket Area

Palmyra, Pennsylvania is a part of the Moorestown/Maple Shade/Mt. Laurel Submarket submarket area, and contains zip code 17078.

Palmyra Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Palmyra, PA submarket area was $1,278, which is 13.10% lower than 2014 average rent. This represents a compounded annual growth rate of 2.49%. 2019 vacancy in Palmyra, PA was 2.40%.

The total population of the city of Palmyra, PA has grown 3.50% since 2010. As of 2018, the population was 7,576. The median household income of the Palmyra was $50,437, which is 16.35% lower than the national average.

  • submarket area Moorestown / Maple Shade / Mt. Laurel Submarket
  • avg rent $1,278
  • rent growth 13.10%
  • vacancy 2.40%
  • median income $50,437
  • population (2018) 7,576
  • population growth 3.50%
  • vs. nat'l avg 16.35%
  • zip code 17078

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