1031 Exchange in Elmira MSA
The Elmira Metropolitan Statistical Area represents a distressed upstate New York manufacturing market experiencing significant economic challenges, with population decline (-7.2% over 10 years), manufacturing sector contraction, and property values under pressure. While median home values of $121,061 offer exceptional affordability, investors must navigate extremely high property taxes (2.93% effective rate) and limited growth prospects.
Population
82,805
Key Industries
Manufacturing, manufacturing, healthcare
Table of Contents
Information is for educational purposes only. Consult qualified professionals for specific advice.
Local Tax Considerations
Property taxes, transfer taxes, and local incentives
Property Tax Rates
Average Rate
2.93%
Assessment Method
Assessed Value
MSA rate (2.93%) vs State average (N/A)
N/A
Transfer Taxes & Fees
Transfer Tax Rate
N/A
N/A
Opportunity Zones
Number of Zones
0
Key Locations
Opportunity Zones offer significant tax benefits for long-term investments, including deferral and potential elimination of capital gains taxes.
Exchange Timeline Calculator
Plan your exchange with local market considerations
Enter the closing date of your relinquished property to calculate your 1031 exchange deadlines:
Market Profile Dashboard
Economic indicators and market trends
Population
82,805
Growth: 3.44%
Median Income
$63,469
Unemployment
N/A
Job Growth
N/A
Economic Drivers
Market Trends
Median Home Value
$121,061
Demographics
Median Age
N/A
Bachelor's Degree+
N/A
Owner Occupied
N/A
Property Type Analysis
Investment opportunities by asset class
Multifamily
Multifamily investment opportunities - specific data not available from source material
Market Metrics
- Cap Rates: N/A
- Vacancy Trends: N/A
- Demand Forecast: N/A
Risk Factors
- Market data limited
- Further research needed
Opportunities
- Potential for rental income
- Market analysis recommended
Commercial
Commercial real estate opportunities - specific data not available from source material
Market Metrics
- Cap Rates: N/A
- Vacancy Trends: N/A
- Demand Forecast: N/A
Risk Factors
- Market data limited
- Further research needed
Opportunities
- Commercial development potential
- Market analysis recommended
Neighborhood Spotlights
Up-and-coming areas and investment hotspots
Downtown
Downtown Elmira area with urban amenities and commercial opportunities
Investment Thesis
Downtown Elmira offers potential for urban investment with mixed-use development opportunities
Median Price
$121,061
Price Growth
N/A
Rental Yield
N/A
Days on Market
N/A
Key Highlights
Development Pipeline
Information not available from source material
Suburban Areas
Suburban areas of Elmira providing residential investment opportunities
Investment Thesis
Suburban Elmira areas offer residential investment potential with family-oriented communities
Median Price
N/A
Price Growth
N/A
Rental Yield
N/A
Days on Market
N/A
Key Highlights
Development Pipeline
Information not available from source material
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Frequently Asked Questions
Common questions about Elmira 1031 exchanges
A 1031 exchange allows investors to defer capital gains taxes by reinvesting proceeds from a sold property into a like-kind property.
Elmira offers unique investment opportunities. For detailed market analysis and current conditions, consult with local real estate professionals.
You have 45 days to identify replacement properties and 180 days to complete the purchase after selling your original property.