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%