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1031 Exchange Buffalo Grove, Illinois

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Buffalo Grove due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

Buffalo Grove, Illinois is a part of the Wheeling Submarket submarket area, and contains zip code 60089.

Buffalo Grove Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Buffalo Grove, IL submarket area was $1,431, which is 19.55% higher than 2014 average rent. This represents a compounded annual growth rate of 3.64%. 2019 vacancy in Buffalo Grove, IL was 3.90%.

The total population of the city of Buffalo Grove, IL has decreased 1.55% since 2010. As of 2018, the population was 40,853. The median household income of the Buffalo Grove was $111,435, which is 84.82% higher than the national average.

  • submarket area Wheeling Submarket
  • avg rent $1,431
  • rent growth 19.55%
  • vacancy 3.90%
  • median income $111,435
  • population (2018) 40,853
  • population growth -1.55%
  • vs. nat'l avg 84.82%
  • zip code 60089

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