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1031 Exchange West Haven, Connecticut

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in West Haven due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

West Haven, Connecticut is a part of the New Haven Harborside Submarket submarket area, and contains zip code 6516.

West Haven Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the West Haven, CT submarket area was $1,371, which is 17.99% lower than 2014 average rent. This represents a compounded annual growth rate of 3.36%. 2019 vacancy in West Haven, CT was 4.90%.

The total population of the city of West Haven, CT has decreased 1.23% since 2010. As of 2018, the population was 54,879. The median household income of the West Haven was $58,112, which is 3.62% lower than the national average.

  • submarket area New Haven Harborside Submarket
  • avg rent $1,371
  • rent growth 17.99%
  • vacancy 4.90%
  • median income $58,112
  • population (2018) 54,879
  • population growth -1.23%
  • vs. nat'l avg 3.62%
  • zip code 6516

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