1031 Exchange Philadelphia, Pennsylvania

 

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

Surrounding metropolitan Area

Philadelphia, Pennsylvania is a part of the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD metropolitan area, and contains 87 zip codes, including: 19179, 19127, 19255, 19113, 19108, and 19193.

Philadelphia Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Philadelphia, PA metropolitan area was $1,365, which is 21.23% lower than 2014 average rent. This represents a compounded annual growth rate of 3.92%. 2019 vacancy in Philadelphia, PA was 3.80%.

The total population of the city of Philadelphia, PA has grown 3.81% since 2010. As of 2018, the population was 1,584,138. The median household income of the Philadelphia was $43,744, which is 27.45% lower than the national average.

  • metropolitan area Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
  • avg rent $1,365
  • rent growth 21.23%
  • vacancy 3.80%
  • median income $43,744
  • population (2018) 1,584,138
  • population growth 3.81%
  • vs. nat'l avg 27.45%
  • zip codes 19019 19092 19093 19099 19101 19102 19103 19104 19105 19106 19107 19108 19109 19110 19111 19112 19113 19114 19115 19116 19118 19119 19120 19121 19122 19123 19124 19125 19126 19127 19128 19129 19130 19131 19132 19133 19134 19135 19136 19137 19138 19139 19140 19141 19142 19143 19144 19145 19146 19147 19148 19149 19150 19151 19152 19153 19154 19155 19160 19161 19162 19170 19171 19172 19173 19175 19176 19177 19178 19179 19181 19182 19183 19184 19185 19187 19188 19190 19191 19192 19193 19194 19195 19196 19197 19244 19255

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