Rent, population, and median household income are important factors to consider for a 1031 exchange in Westwego due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Westwego, Louisiana is a part of the Gretna/Terrytown/Jefferson Parish Submarket submarket area, and contains zip codes 70094 and 70096.
Westwego Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Westwego, LA submarket area was $884, which is 7.41% lower than 2014 average rent. This represents a compounded annual growth rate of 1.44%. 2019 vacancy in Westwego, LA was 3.90%.
The total population of the city of Westwego, LA has decreased 1.24% since 2010. As of 2018, the population was 8,428. The median household income of the Westwego was $29,854, which is 50.49% lower than the national average.
- submarket area Gretna / Terrytown / Jefferson Parish Submarket
- avg rent $884
- rent growth 7.41%
- vacancy 3.90%
- median income $29,854
- population (2018) 8,428
- population growth -1.24%
- vs. nat'l avg 50.49%
- zip codes 70094 70096