1031 Exchange Addison, Illinois

 

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

Surrounding submarket Area

Addison, Illinois is a part of the Glendale Heights/Lombard Submarket submarket area, and contains zip code 60101.

Addison Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Addison, IL submarket area was $1,497, which is 18.90% higher than 2014 average rent. This represents a compounded annual growth rate of 3.52%. 2019 vacancy in Addison, IL was 4.10%.

The total population of the city of Addison, IL has decreased 0.59% since 2010. As of 2018, the population was 36,724. The median household income of the Addison was $64,377, which is 6.77% higher than the national average.

  • submarket area Glendale Heights / Lombard Submarket
  • avg rent $1,497
  • rent growth 18.90%
  • vacancy 4.10%
  • median income $64,377
  • population (2018) 36,724
  • population growth -0.59%
  • vs. nat'l avg 6.77%
  • zip code 60101

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