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1031 Exchange West Chester, Pennsylvania

 

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

Surrounding submarket Area

West Chester, Pennsylvania is a part of the Central Chester Submarket submarket area, and contains 4 zip codes: 19382, 19380, 19383, and 19381.

West Chester Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the West Chester, PA submarket area was $1,612, which is 18.10% lower than 2014 average rent. This represents a compounded annual growth rate of 3.38%. 2019 vacancy in West Chester, PA was 5.20%.

The total population of the city of West Chester, PA has grown 8.60% since 2010. As of 2018, the population was 20,048. The median household income of the West Chester was $58,500, which is 2.97% lower than the national average.

  • submarket area Central Chester Submarket
  • avg rent $1,612
  • rent growth 18.10%
  • vacancy 5.20%
  • median income $58,500
  • population (2018) 20,048
  • population growth 8.60%
  • vs. nat'l avg 2.97%
  • zip codes 19380 19381 19382 19383

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