Rent, population, and median household income are important factors to consider for a 1031 exchange in Westerville due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Westerville, Ohio is a part of the Westerville Submarket submarket area, and contains 3 zip codes: 43086, 43082, and 43081.
Westerville Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Westerville, OH submarket area was $1,164, which is 20.62% higher than 2014 average rent. This represents a compounded annual growth rate of 3.82%. 2019 vacancy in Westerville, OH was 4.90%.
The total population of the city of Westerville, OH has grown 11.81% since 2010. As of 2018, the population was 40,387. The median household income of the Westerville was $90,443, which is 50.01% higher than the national average.
- submarket area Westerville Submarket
- avg rent $1,164
- rent growth 20.62%
- vacancy 4.90%
- median income $90,443
- population (2018) 40,387
- population growth 11.81%
- vs. nat'l avg 50.01%
- zip codes 43081 43082 43086