Rent, population, and median household income are important factors to consider for a 1031 exchange in South Kingstown due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
South Kingstown, Rhode Island is a part of the Southern Rhode Island Submarket submarket area.
South Kingstown Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the South Kingstown, 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 South Kingstown, RI was 2.80%.
The total population of the city of South Kingstown, RI has grown 0.04% since 2010. As of 2018, the population was 30,650. The median household income of the South Kingstown was $81,735, which is 35.56% higher than the national average.
- submarket area Southern Rhode Island Submarket
- avg rent $1,273
- rent growth 11.28%
- vacancy 2.80%
- median income $81,735
- population (2018) 30,650
- population growth 0.04%
- vs. nat'l avg 35.56%