1031 Exchange Providence, Rhode Island

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Providence due to their correlations with market demand, and conversely, vacancy rate.

Surrounding metropolitan Area

Providence, Rhode Island is a part of the Providence-Warwick, RI-MA metropolitan area, and contains 12 zip codes, including: 02901, 02904, 02905, 02940, 02903, and 02912.

Providence Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Providence, RI metropolitan area was $1,419, which is 11.64% lower than 2014 average rent. This represents a compounded annual growth rate of 2.23%. 2019 vacancy in Providence, RI was 4.20%.

The total population of the city of Providence, RI has grown 0.73% since 2010. As of 2018, the population was 179,335. The median household income of the Providence was $42,158, which is 30.08% lower than the national average.

  • metropolitan area Providence-Warwick, RI-MA
  • avg rent $1,419
  • rent growth 11.64%
  • vacancy 4.20%
  • median income $42,158
  • population (2018) 179,335
  • population growth 0.73%
  • vs. nat'l avg 30.08%
  • zip codes 02901 02902 02903 02904 02905 02906 02907 02908 02909 02912 02918 02940

Compare 1031 DST Properties
Side by Side

Simple & Easy to Understand

Side by Side Comparison of Investment Opportunities