1031 Exchange East Providence, Rhode Island

 

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

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