Rent, population, and median household income are important factors to consider for a 1031 exchange in Cicero due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Cicero, Illinois is a part of the City West Submarket submarket area, and contains zip code 60804.
Cicero Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Cicero, IL submarket area was $1,846, which is 59.28% lower than 2014 average rent. This represents a compounded annual growth rate of 9.76%. 2019 vacancy in Cicero, IL was 8.80%.
The total population of the city of Cicero, IL has decreased 2.73% since 2010. As of 2018, the population was 81,597. The median household income of the Cicero was $47,487, which is 21.24% lower than the national average.
- submarket area City West Submarket
- avg rent $1,846
- rent growth 59.28%
- vacancy 8.80%
- median income $47,487
- population (2018) 81,597
- population growth -2.73%
- vs. nat'l avg 21.24%
- zip code 60804
