1031 Exchange Rocky Mount, North Carolina

 

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

Surrounding metropolitan Area

Rocky Mount, North Carolina is a part of the Rocky Mount, NC metropolitan area, and contains 5 zip codes: 27803, 27802, 27815, 27804, and 27801.

Rocky Mount Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Rocky Mount, NC metropolitan area was $650, which is 13.24% lower than 2014 average rent. This represents a compounded annual growth rate of 2.52%. 2019 vacancy in Rocky Mount, NC was 2.00%.

The total population of the city of Rocky Mount, NC has decreased 5.63% since 2010. As of 2018, the population was 54,242. The median household income of the Rocky Mount was $40,665, which is 32.55% lower than the national average.

  • metropolitan area Rocky Mount, NC
  • avg rent $650
  • rent growth 13.24%
  • vacancy 2.00%
  • median income $40,665
  • population (2018) 54,242
  • population growth -5.63%
  • vs. nat'l avg 32.55%
  • zip codes 27801 27802 27803 27804 27815

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