1031 Exchange Central Falls, Rhode Island

 

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

Surrounding submarket Area

Central Falls, Rhode Island is a part of the Providence Submarket submarket area, and contains zip code 2863.

Central Falls Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Central Falls, RI submarket area was $1,667, which is 11.06% lower than 2014 average rent. This represents a compounded annual growth rate of 2.12%. 2019 vacancy in Central Falls, RI was 4.20%.

The total population of the city of Central Falls, RI has grown 0.11% since 2010. As of 2018, the population was 19,398. The median household income of the Central Falls was $31,724, which is 47.38% lower than the national average.

  • submarket area Providence Submarket
  • avg rent $1,667
  • rent growth 11.06%
  • vacancy 4.20%
  • median income $31,724
  • population (2018) 19,398
  • population growth 0.11%
  • vs. nat'l avg 47.38%
  • zip code 2863

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