1031 Exchange Westwego, Louisiana

 

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

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