Rent, population, and median household income are important factors to consider for a 1031 exchange in Alexandria due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Alexandria, Virginia is a part of the Old Town Submarket submarket area, and contains 21 zip codes, including: 22304, 22320, 22311, 22312, 22301, and 22308.
Alexandria Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Alexandria, VA submarket area was $2,149, which is 23.79% higher than 2014 average rent. This represents a compounded annual growth rate of 4.36%. 2019 vacancy in Alexandria, VA was 4.90%.
The total population of the city of Alexandria, VA has grown 14.69% since 2010. As of 2018, the population was 160,530. The median household income of the Alexandria was $96,733, which is 60.44% higher than the national average.
- submarket area Old Town Submarket
- avg rent $2,149
- rent growth 23.79%
- vacancy 4.90%
- median income $96,733
- population (2018) 160,530
- population growth 14.69%
- vs. nat'l avg 60.44%
- zip codes 22301 22302 22303 22304 22305 22306 22307 22308 22309 22310 22311 22312 22313 22314 22315 22320 22331 22332 22333 22334 22350
