Rent, population, and median household income are important factors to consider for a 1031 exchange in Hopkinton due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Hopkinton, Rhode Island is a part of the Southern Rhode Island Submarket submarket area, and contains zip code 2833.
Hopkinton Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Hopkinton, 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 Hopkinton, RI was 2.80%.
The total population of the city of Hopkinton, RI has decreased 0.84% since 2010. As of 2018, the population was 8,119. The median household income of the Hopkinton was $89,033, which is 47.67% higher than the national average.
- submarket area Southern Rhode Island Submarket
- avg rent $1,273
- rent growth 11.28%
- vacancy 2.80%
- median income $89,033
- population (2018) 8,119
- population growth -0.84%
- vs. nat'l avg 47.67%
- zip code 2833