1031 Exchange West Norriton, Pennsylvania

 

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

Surrounding submarket Area

West Norriton, Pennsylvania is a part of the Norristown/Plymouth/Norriton Submarket submarket area.

West Norriton Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the West Norriton, PA submarket area was $1,498, which is 21.10% higher than 2014 average rent. This represents a compounded annual growth rate of 3.90%. 2019 vacancy in West Norriton, PA was 4.70%.

The total population of the city of West Norriton, PA has decreased 0.08% since 2010. As of 2018, the population was 15,651. The median household income of the West Norriton was $74,730, which is 23.94% higher than the national average.

  • submarket area Norristown / Plymouth / Norriton Submarket
  • avg rent $1,498
  • rent growth 21.10%
  • vacancy 4.70%
  • median income $74,730
  • population (2018) 15,651
  • population growth -0.08%
  • vs. nat'l avg 23.94%

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