1031 Exchange Westport, Connecticut

 

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

Surrounding submarket Area

Westport, Connecticut is a part of the West Fairfield County Submarket submarket area, and contains 4 zip codes: 06889, 06888, 06881, and 06880.

Westport Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Westport, CT submarket area was $2,441, which is 9.31% higher than 2014 average rent. This represents a compounded annual growth rate of 1.80%. 2019 vacancy in Westport, CT was 7.40%.

The total population of the city of Westport, CT has grown 6.53% since 2010. As of 2018, the population was 28,115. The median household income of the Westport was $187,988, which is 211.79% higher than the national average.

  • submarket area West Fairfield County Submarket
  • avg rent $2,441
  • rent growth 9.31%
  • vacancy 7.40%
  • median income $187,988
  • population (2018) 28,115
  • population growth 6.53%
  • vs. nat'l avg 211.79%
  • zip codes 06880 06881 06888 06889

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