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
