Rent, population, and median household income are important factors to consider for a 1031 exchange in Crest Hill due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Crest Hill, Illinois is a part of the Joliet Submarket submarket area, and contains zip code 60403.
Crest Hill Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Crest Hill, IL submarket area was $1,122, which is 23.57% lower than 2014 average rent. This represents a compounded annual growth rate of 4.32%. 2019 vacancy in Crest Hill, IL was 6.80%.
The total population of the city of Crest Hill, IL has decreased 1.29% since 2010. As of 2018, the population was 20,568. The median household income of the Crest Hill was $54,594, which is 9.45% lower than the national average.
- submarket area Joliet Submarket
- avg rent $1,122
- rent growth 23.57%
- vacancy 6.80%
- median income $54,594
- population (2018) 20,568
- population growth -1.29%
- vs. nat'l avg 9.45%
- zip code 60403