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1031 Exchange Kennett, Pennsylvania

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Kennett due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

Kennett, Pennsylvania is a part of the West Chester Submarket submarket area.

Kennett Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Kennett, PA submarket area was $1,351, which is 21.38% higher than 2014 average rent. This represents a compounded annual growth rate of 3.95%. 2019 vacancy in Kennett, PA was 1.90%.

The total population of the city of Kennett, PA has grown 9.11% since 2010. As of 2018, the population was 8,254. The median household income of the Kennett was $114,464, which is 89.85% higher than the national average.

  • submarket area West Chester Submarket
  • avg rent $1,351
  • rent growth 21.38%
  • vacancy 1.90%
  • median income $114,464
  • population (2018) 8,254
  • population growth 9.11%
  • vs. nat'l avg 89.85%

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