Rent, population, and median household income are important factors to consider for a 1031 exchange in Bolingbrook due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Bolingbrook, Illinois is a part of the Woodridge/Lisle Submarket submarket area, and contains zip codes 60440 and 60490.
Bolingbrook Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Bolingbrook, IL submarket area was $1,273, which is 11.57% higher than 2014 average rent. This represents a compounded annual growth rate of 2.21%. 2019 vacancy in Bolingbrook, IL was 3.90%.
The total population of the city of Bolingbrook, IL has grown 2.47% since 2010. As of 2018, the population was 75,178. The median household income of the Bolingbrook was $85,643, which is 42.04% higher than the national average.
- submarket area Woodridge / Lisle Submarket
- avg rent $1,273
- rent growth 11.57%
- vacancy 3.90%
- median income $85,643
- population (2018) 75,178
- population growth 2.47%
- vs. nat'l avg 42.04%
- zip codes 60440 60490