Rent, population, and median household income are important factors to consider for a 1031 exchange in Coventry due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Coventry, Rhode Island is a part of the Southern Rhode Island Submarket submarket area, and contains zip code 2816.
Coventry Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Coventry, 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 Coventry, RI was 2.80%.
The total population of the city of Coventry, RI has decreased 0.90% since 2010. As of 2018, the population was 34,698. The median household income of the Coventry was $72,264, which is 19.85% higher than the national average.
- submarket area Southern Rhode Island Submarket
- avg rent $1,273
- rent growth 11.28%
- vacancy 2.80%
- median income $72,264
- population (2018) 34,698
- population growth -0.90%
- vs. nat'l avg 19.85%
- zip code 2816