Rent, population, and median household income are important factors to consider for a 1031 exchange in Plainville due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Plainville, Connecticut is a part of the Southwest Submarket submarket area, and contains zip code 6062.
Plainville Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Plainville, CT submarket area was $1,049, which is 8.03% higher than 2014 average rent. This represents a compounded annual growth rate of 1.56%. 2019 vacancy in Plainville, CT was 4.00%.
The total population of the city of Plainville, CT has decreased 0.52% since 2010. As of 2018, the population was 17,623. The median household income of the Plainville was $65,553, which is 8.72% higher than the national average.
- submarket area Southwest Submarket
- avg rent $1,049
- rent growth 8.03%
- vacancy 4.00%
- median income $65,553
- population (2018) 17,623
- population growth -0.52%
- vs. nat'l avg 8.72%
- zip code 6062
