Rent, population, and median household income are important factors to consider for a 1031 exchange in Blue Island due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Blue Island, Illinois is a part of the Southwest Cook County Submarket submarket area, and contains zip code 60406.
Blue Island Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Blue Island, IL submarket area was $958, which is 9.11% lower than 2014 average rent. This represents a compounded annual growth rate of 1.76%. 2019 vacancy in Blue Island, IL was 2.00%.
The total population of the city of Blue Island, IL has decreased 2.51% since 2010. As of 2018, the population was 23,112. The median household income of the Blue Island was $44,727, which is 25.82% lower than the national average.
- submarket area Southwest Cook County Submarket
- avg rent $958
- rent growth 9.11%
- vacancy 2.00%
- median income $44,727
- population (2018) 23,112
- population growth -2.51%
- vs. nat'l avg 25.82%
- zip code 60406
