Rent, population, and median household income are important factors to consider for a 1031 exchange in West Valley City due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
West Valley City, Utah is a part of the West Valley City Submarket submarket area, and contains 3 zip codes: 84120, 84128, and 84119.
West Valley City Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the West Valley City, UT submarket area was $962, which is 26.41% higher than 2014 average rent. This represents a compounded annual growth rate of 4.80%. 2019 vacancy in West Valley City, UT was 4.00%.
The total population of the city of West Valley City, UT has grown 5.35% since 2010. As of 2018, the population was 136,401. The median household income of the West Valley City was $63,200, which is 4.82% higher than the national average.
- submarket area West Valley City Submarket
- avg rent $962
- rent growth 26.41%
- vacancy 4.00%
- median income $63,200
- population (2018) 136,401
- population growth 5.35%
- vs. nat'l avg 4.82%
- zip codes 84119 84120 84128