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1031 Exchange Crete, Illinois

 

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

Surrounding submarket Area

Crete, Illinois is a part of the Southeast Cook County Submarket submarket area, and contains zip code 60417.

Crete Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Crete, IL submarket area was $936, which is 8.33% higher than 2014 average rent. This represents a compounded annual growth rate of 1.61%. 2019 vacancy in Crete, IL was 2.90%.

The total population of the city of Crete, IL has decreased 1.72% since 2010. As of 2018, the population was 8,117. The median household income of the Crete was $73,736, which is 22.30% higher than the national average.

  • submarket area Southeast Cook County Submarket
  • avg rent $936
  • rent growth 8.33%
  • vacancy 2.90%
  • median income $73,736
  • population (2018) 8,117
  • population growth -1.72%
  • vs. nat'l avg 22.30%
  • zip code 60417

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