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