Rent, population, and median household income are important factors to consider for a 1031 exchange in Chester due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Chester, Pennsylvania is a part of the West Delaware Submarket submarket area, and contains zip codes 19013 and 19016.
Chester Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Chester, PA submarket area was $1,219, which is 24.26% lower than 2014 average rent. This represents a compounded annual growth rate of 4.44%. 2019 vacancy in Chester, PA was 3.70%.
The total population of the city of Chester, PA has decreased 0.19% since 2010. As of 2018, the population was 33,909. The median household income of the Chester was $30,949, which is 48.67% lower than the national average.
- submarket area West Delaware Submarket
- avg rent $1,219
- rent growth 24.26%
- vacancy 3.70%
- median income $30,949
- population (2018) 33,909
- population growth -0.19%
- vs. nat'l avg 48.67%
- zip codes 19013 19016