Rent, population, and median household income are important factors to consider for a 1031 exchange in Barrington due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Barrington, Illinois is a part of the Palatine Submarket submarket area, and contains zip codes 60010 and 60011.
Barrington Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Barrington, IL submarket area was $1,343, which is 5.91% higher than 2014 average rent. This represents a compounded annual growth rate of 1.16%. 2019 vacancy in Barrington, IL was 4.80%.
The total population of the city of Barrington, IL has decreased 0.51% since 2010. As of 2018, the population was 10,274. The median household income of the Barrington was $115,833, which is 92.12% higher than the national average.
- submarket area Palatine Submarket
- avg rent $1,343
- rent growth 5.91%
- vacancy 4.80%
- median income $115,833
- population (2018) 10,274
- population growth -0.51%
- vs. nat'l avg 92.12%
- zip codes 60010 60011