Rent, population, and median household income are important factors to consider for a 1031 exchange in Westlake Village due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Westlake Village, California is a part of the Thousand Oaks Submarket submarket area, and contains zip codes 91359 and 91361.
Westlake Village Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Westlake Village, CA submarket area was $1,926, which is 16.16% higher than 2014 average rent. This represents a compounded annual growth rate of 3.04%. 2019 vacancy in Westlake Village, CA was 3.10%.
The total population of the city of Westlake Village, CA has grown 0.99% since 2010. As of 2018, the population was 8,352. The median household income of the Westlake Village was $141,979, which is 135.48% higher than the national average.
- submarket area Thousand Oaks Submarket
- avg rent $1,926
- rent growth 16.16%
- vacancy 3.10%
- median income $141,979
- population (2018) 8,352
- population growth 0.99%
- vs. nat'l avg 135.48%
- zip codes 91359 91361