1031 Exchange Crest Hill, Illinois

 

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

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