Rent, population, and median household income are important factors to consider for a 1031 exchange in Bellwood due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Bellwood, Illinois is a part of the Oak Park Submarket submarket area, and contains zip code 60104.
Bellwood Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Bellwood, IL submarket area was $1,453, which is 41.89% lower than 2014 average rent. This represents a compounded annual growth rate of 7.25%. 2019 vacancy in Bellwood, IL was 5.10%.
The total population of the city of Bellwood, IL has decreased 1.22% since 2010. As of 2018, the population was 18,839. The median household income of the Bellwood was $55,480, which is 7.98% lower than the national average.
- submarket area Oak Park Submarket
- avg rent $1,453
- rent growth 41.89%
- vacancy 5.10%
- median income $55,480
- population (2018) 18,839
- population growth -1.22%
- vs. nat'l avg 7.98%
- zip code 60104
