Rent, population, and median household income are important factors to consider for a 1031 exchange in Propsect Park due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Propsect Park, Pennsylvania is a part of the East Delaware County Submarket submarket area, and contains zip code 19076.
Propsect Park Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Propsect Park, PA submarket area was $959, which is 12.03% lower than 2014 average rent. This represents a compounded annual growth rate of 2.30%. 2019 vacancy in Propsect Park, PA was 1.80%.
The total population of the city of Propsect Park, PA has grown 0.36% since 2010. As of 2018, the population was 6,477. The median household income of the Propsect Park was $59,910, which is 0.64% lower than the national average.
- submarket area East Delaware County Submarket
- avg rent $959
- rent growth 12.03%
- vacancy 1.80%
- median income $59,910
- population (2018) 6,477
- population growth 0.36%
- vs. nat'l avg 0.64%
- zip code 19076