1031 Exchange Chicago, Illinois

 

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

Surrounding metropolitan Area

Chicago, Illinois is a part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area, and contains 84 zip codes, including: 60631, 60622, 60605, 60623, 60690, and 60632.

Chicago Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Chicago, IL metropolitan area was $1,451, which is 28.41% lower than 2014 average rent. This represents a compounded annual growth rate of 5.13%. 2019 vacancy in Chicago, IL was 5.20%.

The total population of the city of Chicago, IL has grown 0.39% since 2010. As of 2018, the population was 2,705,994. The median household income of the Chicago was $55,198, which is 8.45% lower than the national average.

  • metropolitan area Chicago-Naperville-Elgin, IL-IN-WI
  • avg rent $1,451
  • rent growth 28.41%
  • vacancy 5.20%
  • median income $55,198
  • population (2018) 2,705,994
  • population growth 0.39%
  • vs. nat'l avg 8.45%
  • zip codes 60601 60602 60603 60604 60605 60606 60607 60608 60609 60610 60611 60612 60613 60614 60615 60616 60617 60618 60619 60620 60621 60622 60623 60624 60625 60626 60628 60629 60630 60631 60632 60633 60634 60636 60637 60638 60639 60640 60641 60642 60643 60644 60645 60646 60647 60649 60651 60652 60653 60654 60655 60656 60657 60659 60660 60661 60664 60666 60668 60669 60670 60673 60674 60675 60677 60678 60680 60681 60682 60684 60685 60686 60687 60688 60689 60690 60691 60693 60694 60695 60696 60697 60699 60701

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