Rent, population, and median household income are important factors to consider for a 1031 exchange in New Garden due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
New Garden, Pennsylvania is a part of the West Chester Submarket submarket area.
New Garden Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the New Garden, 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 New Garden, PA was 1.90%.
The total population of the city of New Garden, PA has grown 1.39% since 2010. As of 2018, the population was 12,150. The median household income of the New Garden was $116,549, which is 93.30% higher than the national average.
- submarket area West Chester Submarket
- avg rent $1,351
- rent growth 21.38%
- vacancy 1.90%
- median income $116,549
- population (2018) 12,150
- population growth 1.39%
- vs. nat'l avg 93.30%
