1031 Exchange Cranston, Rhode Island

 

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

Surrounding submarket Area

Cranston, Rhode Island is a part of the Providence Submarket submarket area, and contains 3 zip codes: 02921, 02920, and 02910.

Cranston Demographics & Economic Trends

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

The total population of the city of Cranston, RI has grown 1.10% since 2010. As of 2018, the population was 81,274. The median household income of the Cranston was $66,283, which is 9.93% higher than the national average.

  • submarket area Providence Submarket
  • avg rent $1,667
  • rent growth 11.06%
  • vacancy 4.20%
  • median income $66,283
  • population (2018) 81,274
  • population growth 1.10%
  • vs. nat'l avg 9.93%
  • zip codes 02910 02920 02921

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