Rent, population, and median household income are important factors to consider for a 1031 exchange in Whitemarsh due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Whitemarsh, Pennsylvania is a part of the Norristown/Plymouth/Norriton Submarket submarket area.
Whitemarsh Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Whitemarsh, PA submarket area was $1,498, which is 21.10% higher than 2014 average rent. This represents a compounded annual growth rate of 3.90%. 2019 vacancy in Whitemarsh, PA was 4.70%.
The total population of the city of Whitemarsh, PA has grown 4.44% since 2010. As of 2018, the population was 18,120. The median household income of the Whitemarsh was $115,734, which is 91.95% higher than the national average.
- submarket area Norristown / Plymouth / Norriton Submarket
- avg rent $1,498
- rent growth 21.10%
- vacancy 4.70%
- median income $115,734
- population (2018) 18,120
- population growth 4.44%
- vs. nat'l avg 91.95%