Rent, population, and median household income are important factors to consider for a 1031 exchange in Charlestown due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Charlestown, Rhode Island is a part of the Southern Rhode Island Submarket submarket area, and contains zip code 2813.
Charlestown Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Charlestown, RI submarket area was $1,273, which is 11.28% higher than 2014 average rent. This represents a compounded annual growth rate of 2.16%. 2019 vacancy in Charlestown, RI was 2.80%.
The total population of the city of Charlestown, RI has decreased 0.09% since 2010. As of 2018, the population was 7,820. The median household income of the Charlestown was $79,019, which is 31.06% higher than the national average.
- submarket area Southern Rhode Island Submarket
- avg rent $1,273
- rent growth 11.28%
- vacancy 2.80%
- median income $79,019
- population (2018) 7,820
- population growth -0.09%
- vs. nat'l avg 31.06%
- zip code 2813