1031 Exchange West Hartford, Connecticut

 

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: 06137, 06117, 06119, 06133, 06127, and 06107.

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

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