1031 Exchange Spring Garden, Pennsylvania

 

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

Surrounding submarket Area

Spring Garden, Pennsylvania is a part of the Center City Submarket submarket area.

Spring Garden Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Spring Garden, PA submarket area was $2,532, which is 37.01% higher than 2014 average rent. This represents a compounded annual growth rate of 6.50%. 2019 vacancy in Spring Garden, PA was 7.30%.

The total population of the city of Spring Garden, PA has grown 4.56% since 2010. As of 2018, the population was 13,151. The median household income of the Spring Garden was $76,103, which is 26.22% higher than the national average.

  • submarket area Center City Submarket
  • avg rent $2,532
  • rent growth 37.01%
  • vacancy 7.30%
  • median income $76,103
  • population (2018) 13,151
  • population growth 4.56%
  • vs. nat'l avg 26.22%

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