Rent, population, and median household income are important factors to consider for a 1031 exchange in West Hartford due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
West Hartford, Connecticut is a part of the North/West Hartford Submarket submarket area, and contains 7 zip codes, including: 06110, 06117, 06107, 06133, 06137, and 06119.
West Hartford Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the West Hartford, CT submarket area was $1,405, which is 15.83% higher than 2014 average rent. This represents a compounded annual growth rate of 2.98%. 2019 vacancy in West Hartford, CT was 4.90%.
The total population of the city of West Hartford, CT has decreased 0.52% since 2010. As of 2018, the population was 62,939. The median household income of the West Hartford was $99,280, which is 64.66% higher than the national average.
- submarket area North / West Hartford Submarket
- avg rent $1,405
- rent growth 15.83%
- vacancy 4.90%
- median income $99,280
- population (2018) 62,939
- population growth -0.52%
- vs. nat'l avg 64.66%
- zip codes 06107 06110 06117 06119 06127 06133 06137