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
