Rent, population, and median household income are important factors to consider for a 1031 exchange in East Greenwich due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
East Greenwich, Rhode Island is a part of the Southern Rhode Island Submarket submarket area, and contains zip code 2818.
East Greenwich Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the East Greenwich, 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 East Greenwich, RI was 2.80%.
The total population of the city of East Greenwich, RI has decreased 0.33% since 2010. As of 2018, the population was 13,103. The median household income of the East Greenwich was $113,125, which is 87.63% higher than the national average.
- submarket area Southern Rhode Island Submarket
- avg rent $1,273
- rent growth 11.28%
- vacancy 2.80%
- median income $113,125
- population (2018) 13,103
- population growth -0.33%
- vs. nat'l avg 87.63%
- zip code 2818
