1031 Exchange Barrington, Illinois

 

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

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