OZ Pitch Day - June 13, 2024
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OZ Pitch Day - June 13, 2024
Census Tract 405, Newport, Rhode Island
Census Tract 405 is a Low-Income CommunityOpportunity Zone located in Newport, Rhode Island.
This 0.9 square milecensus tract has a population of approximately 4,700and is the only Opportunity Zone in Newport County.
The adjacent map shows the location of this Opportunity Zone in Rhode Island.
Census Tract 405 Demographics
The charts below illustrate how this Opportunity Zone compares to the broader city, county, and state on various socioeconomic indicators:
Median Household Income
$39K |
This Opportunity Zone has a median household incomeof approximately $39,000, which is 45% lowerthan the median household income for the state of Rhode Island of $71,000.
Poverty Rate
19% |
The percentage of households below the poverty line in this Opportunity Zone is 19%, which is 8% higherthan the rate for the state of Rhode Island of 11%.
Median Home Value
$277K |
This Opportunity Zone has a median home valueof approximately $280,000, which is 0% lowerthan the median home value for the state of Rhode Island of $280,000.
Education
86% |
This Opportunity Zone has a percentage of population with high school diplomaof approximately 86%, which is 3% lowerthan the rate for the state of Rhode Island of 89%.
Median Age
32 |
This Opportunity Zone has a median ageof approximately 32, which is 20% lowerthan the median age for the state of Rhode Island of 40.
Rhode Island OZ Funds
There is 1QOZ Fundin the OpportunityDb database with an investment objective that specifically identify Rhode Islandas a target market. Additional OZ funds may also invest in Rhode Island; see a complete list of Opportunity Zone Funds here.
| Fund Name | Asset Classes | Property Types | Fund Size |
|---|---|---|---|
| Strategic Rivermont OZ Fund, LLC | Real Estate | Commercial, Energy Development, Hotel, Mixed-Use, Residential, Stadiums and Arenas, Student Housing | $100M |