Rent, population, and median household income are important factors to consider for a 1031 exchange in Rocky Hill due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Rocky Hill, Connecticut is a part of the South Hartford/North Middlesex Submarket submarket area, and contains zip code 6067.
Rocky Hill Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Rocky Hill, CT submarket area was $1,295, which is 12.61% higher than 2014 average rent. This represents a compounded annual growth rate of 2.40%. 2019 vacancy in Rocky Hill, CT was 4.20%.
The total population of the city of Rocky Hill, CT has grown 2.21% since 2010. As of 2018, the population was 20,145. The median household income of the Rocky Hill was $83,100, which is 37.83% higher than the national average.
- submarket area South Hartford / North Middlesex Submarket
- avg rent $1,295
- rent growth 12.61%
- vacancy 4.20%
- median income $83,100
- population (2018) 20,145
- population growth 2.21%
- vs. nat'l avg 37.83%
- zip code 6067