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: 27801, 27802, 27803, 27815, and 27804.
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