Rent, population, and median household income are important factors to consider for a 1031 exchange in Scranton/Wilkes-Barre due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan Area
Scranton/Wilkes-Barre, Pennsylvania is a part of the Scranton-Wilkes-Barre, PA metropolitan area, and contains 13 zip codes, including: 18577, 18501, 18502, 18508, 18515, and 18510.
Scranton/Wilkes-Barre Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Scranton/Wilkes-Barre, PA metropolitan area was $1,004, which is 7.04% lower than 2014 average rent. This represents a compounded annual growth rate of 1.37%. 2019 vacancy in Scranton/Wilkes-Barre, PA was 2.00%.
The total population of the city of Scranton/Wilkes-Barre, PA has grown 1.44% since 2010. As of 2018, the population was 77,182. The median household income of the Scranton/Wilkes-Barre was $39,066, which is 35.21% lower than the national average.
- metropolitan area Scranton-Wilkes-Barre, PA
- avg rent $1,004
- rent growth 7.04%
- vacancy 2.00%
- median income $39,066
- population (2018) 77,182
- population growth 1.44%
- vs. nat'l avg 35.21%
- zip codes 18501 18502 18503 18504 18505 18508 18509 18510 18512 18515 18519 18540 18577
