Rent, population, and median household income are important factors to consider for a 1031 exchange in West Brandywine due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
West Brandywine, Pennsylvania is a part of the West Chester Submarket submarket area.
West Brandywine Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the West Brandywine, 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 West Brandywine, PA was 1.90%.
The total population of the city of West Brandywine, PA has grown 1.39% since 2010. As of 2018, the population was 7,497. The median household income of the West Brandywine was $94,567, which is 56.85% higher than the national average.
- submarket area West Chester Submarket
- avg rent $1,351
- rent growth 21.38%
- vacancy 1.90%
- median income $94,567
- population (2018) 7,497
- population growth 1.39%
- vs. nat'l avg 56.85%