Rent, population, and median household income are important factors to consider for a 1031 exchange in Bloomingdale due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Bloomingdale, Illinois is a part of the Glendale Heights/Lombard Submarket submarket area, and contains zip codes 60108 and 60117.
Bloomingdale Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Bloomingdale, IL submarket area was $1,497, which is 18.90% higher than 2014 average rent. This represents a compounded annual growth rate of 3.52%. 2019 vacancy in Bloomingdale, IL was 4.10%.
The total population of the city of Bloomingdale, IL has decreased 0.56% since 2010. As of 2018, the population was 21,894. The median household income of the Bloomingdale was $85,105, which is 41.15% higher than the national average.
- submarket area Glendale Heights / Lombard Submarket
- avg rent $1,497
- rent growth 18.90%
- vacancy 4.10%
- median income $85,105
- population (2018) 21,894
- population growth -0.56%
- vs. nat'l avg 41.15%
- zip codes 60108 60117