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%