Rent, population, and median household income are important factors to consider for a 1031 exchange in Johnston due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Johnston, Rhode Island is a part of the Providence Submarket submarket area, and contains zip code 2919.
Johnston Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Johnston, 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 Johnston, RI was 4.20%.
The total population of the city of Johnston, RI has grown 1.92% since 2010. As of 2018, the population was 29,322. The median household income of the Johnston was $63,973, which is 6.10% higher than the national average.
- submarket area Providence Submarket
- avg rent $1,667
- rent growth 11.06%
- vacancy 4.20%
- median income $63,973
- population (2018) 29,322
- population growth 1.92%
- vs. nat'l avg 6.10%
- zip code 2919
