Rent, population, and median household income are important factors to consider for a 1031 exchange in East Providence due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
East Providence, Rhode Island is a part of the Providence Submarket submarket area, and contains zip code 2914.
East Providence Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the East Providence, 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 East Providence, RI was 4.20%.
The total population of the city of East Providence, RI has grown 0.93% since 2010. As of 2018, the population was 47,476. The median household income of the East Providence was $57,384, which is 4.82% lower than the national average.
- submarket area Providence Submarket
- avg rent $1,667
- rent growth 11.06%
- vacancy 4.20%
- median income $57,384
- population (2018) 47,476
- population growth 0.93%
- vs. nat'l avg 4.82%
- zip code 2914