Rent, population, and median household income are important factors to consider for a 1031 exchange in Upper Providence due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Upper Providence, Pennsylvania is a part of the NE Chester/Upper Montgomery County Submarket submarket area.
Upper Providence Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Upper Providence, PA submarket area was $1,325, which is 20.67% higher than 2014 average rent. This represents a compounded annual growth rate of 3.83%. 2019 vacancy in Upper Providence, PA was 4.00%.
The total population of the city of Upper Providence, PA has grown 14.37% since 2010. As of 2018, the population was 24,269. The median household income of the Upper Providence was $123,451, which is 104.75% higher than the national average.
- submarket area NE Chester / Upper Montgomery County Submarket
- avg rent $1,325
- rent growth 20.67%
- vacancy 4.00%
- median income $123,451
- population (2018) 24,269
- population growth 14.37%
- vs. nat'l avg 104.75%