Rent, population, and median household income are important factors to consider for a 1031 exchange in Arlington Heights due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Arlington Heights, Illinois is a part of the Wheeling Submarket submarket area, and contains 3 zip codes: 60005, 60006, and 60004.
Arlington Heights Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Arlington Heights, IL submarket area was $1,431, which is 19.55% higher than 2014 average rent. This represents a compounded annual growth rate of 3.64%. 2019 vacancy in Arlington Heights, IL was 3.90%.
The total population of the city of Arlington Heights, IL has grown 0.20% since 2010. As of 2018, the population was 75,249. The median household income of the Arlington Heights was $90,835, which is 50.66% higher than the national average.
- submarket area Wheeling Submarket
- avg rent $1,431
- rent growth 19.55%
- vacancy 3.90%
- median income $90,835
- population (2018) 75,249
- population growth 0.20%
- vs. nat'l avg 50.66%
- zip codes 60004 60005 60006