1031 Exchange Pitman, Pennsylvania


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

Surrounding submarket Area

Pitman, Pennsylvania is a part of the Gloucester County Submarket submarket area, and contains zip code 17964.

Pitman Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Pitman, PA submarket area was $1,114, which is 8.68% higher than 2014 average rent. This represents a compounded annual growth rate of 1.68%. 2019 vacancy in Pitman, PA was 2.70%.

The total population of the city of Pitman, PA has decreased 2.56% since 2010. As of 2018, the population was 8,780. The median household income of the Pitman was $75,791, which is 25.70% higher than the national average.

  • submarket area Gloucester County Submarket
  • avg rent $1,114
  • rent growth 8.68%
  • vacancy 2.70%
  • median income $75,791
  • population (2018) 8,780
  • population growth -2.56%
  • vs. nat'l avg 25.70%
  • zip code 17964

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