Rent, population, and median household income are important factors to consider for a 1031 exchange in Algoquin due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Algoquin, Illinois is a part of the McHenry County Submarket submarket area, and contains zip code 60102.
Algoquin Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Algoquin, IL submarket area was $1,150, which is 16.16% higher than 2014 average rent. This represents a compounded annual growth rate of 3.04%. 2019 vacancy in Algoquin, IL was 2.60%.
The total population of the city of Algoquin, IL has grown 2.88% since 2010. As of 2018, the population was 30,910. The median household income of the Algoquin was $104,532, which is 73.37% higher than the national average.
- submarket area McHenry County Submarket
- avg rent $1,150
- rent growth 16.16%
- vacancy 2.60%
- median income $104,532
- population (2018) 30,910
- population growth 2.88%
- vs. nat'l avg 73.37%
- zip code 60102