Rent, population, and median household income are important factors to consider for a 1031 exchange in Upper Makefield due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Upper Makefield, Pennsylvania is a part of the Upper Bucks County Submarket submarket area.
Upper Makefield Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Upper Makefield, PA submarket area was $1,307, which is 9.92% higher than 2014 average rent. This represents a compounded annual growth rate of 1.91%. 2019 vacancy in Upper Makefield, PA was 3.00%.
The total population of the city of Upper Makefield, PA has grown 4.00% since 2010. As of 2018, the population was 8,518. The median household income of the Upper Makefield was $159,706, which is 164.88% higher than the national average.
- submarket area Upper Bucks County Submarket
- avg rent $1,307
- rent growth 9.92%
- vacancy 3.00%
- median income $159,706
- population (2018) 8,518
- population growth 4.00%
- vs. nat'l avg 164.88%
