Rent, population, and median household income are important factors to consider for a 1031 exchange in State College due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan Area
State College, Pennsylvania is a part of the State College, PA metropolitan area, and contains 4 zip codes: 16805, 16803, 16804, and 16801.
State College Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the State College, PA metropolitan area was $1,147, which is 11.04% lower than 2014 average rent. This represents a compounded annual growth rate of 2.12%. 2019 vacancy in State College, PA was 2.80%.
The total population of the city of State College, PA has grown 0.76% since 2010. As of 2018, the population was 42,352. The median household income of the State College was $33,244, which is 44.86% lower than the national average.
- metropolitan area State College, PA
- avg rent $1,147
- rent growth 11.04%
- vacancy 2.80%
- median income $33,244
- population (2018) 42,352
- population growth 0.76%
- vs. nat'l avg 44.86%
- zip codes 16801 16803 16804 16805