Rent, population, and median household income are important factors to consider for a 1031 exchange in Plum due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Plum, Pennsylvania is a part of the Wilkinsburg/Penn Hills Submarket submarket area.
Plum Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Plum, PA submarket area was $894, which is 17.63% higher than 2014 average rent. This represents a compounded annual growth rate of 3.30%. 2019 vacancy in Plum, PA was 4.00%.
The total population of the city of Plum, PA has grown 0.03% since 2010. As of 2018, the population was 27,135. The median household income of the Plum was $75,326, which is 24.93% higher than the national average.
- submarket area Wilkinsburg / Penn Hills Submarket
- avg rent $894
- rent growth 17.63%
- vacancy 4.00%
- median income $75,326
- population (2018) 27,135
- population growth 0.03%
- vs. nat'l avg 24.93%