1031 Exchange Aurora, Illinois

 

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

Surrounding submarket Area

Aurora, Illinois is a part of the Aurora/Naperville Submarket submarket area, and contains 10 zip codes, including: 60507, 60503, 60505, 60506, 60572, and 60598.

Aurora Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Aurora, IL submarket area was $1,344, which is 13.32% higher than 2014 average rent. This represents a compounded annual growth rate of 2.53%. 2019 vacancy in Aurora, IL was 4.90%.

The total population of the city of Aurora, IL has grown 0.86% since 2010. As of 2018, the population was 199,602. The median household income of the Aurora was $69,730, which is 15.65% higher than the national average.

  • submarket area Aurora / Naperville Submarket
  • avg rent $1,344
  • rent growth 13.32%
  • vacancy 4.90%
  • median income $69,730
  • population (2018) 199,602
  • population growth 0.86%
  • vs. nat'l avg 15.65%
  • zip codes 60502 60503 60504 60505 60506 60507 60568 60569 60572 60598

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