Rent, population, and median household income are important factors to consider for a 1031 exchange in Kennett Square due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Kennett Square, Pennsylvania is a part of the West Chester Submarket submarket area, and contains zip code 19348.
Kennett Square Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Kennett Square, 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 Square, PA was 1.90%.
The total population of the city of Kennett Square, PA has grown 2.03% since 2010. As of 2018, the population was 6,195. The median household income of the Kennett Square was $71,536, which is 18.65% higher than the national average.
- submarket area West Chester Submarket
- avg rent $1,351
- rent growth 21.38%
- vacancy 1.90%
- median income $71,536
- population (2018) 6,195
- population growth 2.03%
- vs. nat'l avg 18.65%
- zip code 19348