Rent, population, and median household income are important factors to consider for a 1031 exchange in West Covina due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
West Covina, California is a part of the Azusa/Covina/Glendora Submarket submarket area, and contains 4 zip codes: 91790, 91792, 91791, and 91793.
West Covina Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the West Covina, CA submarket area was $1,492, which is 22.90% higher than 2014 average rent. This represents a compounded annual growth rate of 4.21%. 2019 vacancy in West Covina, CA was 3.00%.
The total population of the city of West Covina, CA has grown 0.20% since 2010. As of 2018, the population was 106,311. The median household income of the West Covina was $79,140, which is 31.26% higher than the national average.
- submarket area Azusa / Covina / Glendora Submarket
- avg rent $1,492
- rent growth 22.90%
- vacancy 3.00%
- median income $79,140
- population (2018) 106,311
- population growth 0.20%
- vs. nat'l avg 31.26%
- zip codes 91790 91791 91792 91793