Rent, population, and median household income are important factors to consider for a 1031 exchange in Crystal Lake due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Crystal Lake, Illinois is a part of the McHenry County Submarket submarket area, and contains 3 zip codes: 60012, 60014, and 60039.
Crystal Lake Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Crystal Lake, IL submarket area was $1,150, which is 16.16% higher than 2014 average rent. This represents a compounded annual growth rate of 3.04%. 2019 vacancy in Crystal Lake, IL was 2.60%.
The total population of the city of Crystal Lake, IL has decreased 1.74% since 2010. As of 2018, the population was 40,036. The median household income of the Crystal Lake was $87,221, which is 44.66% higher than the national average.
- submarket area McHenry County Submarket
- avg rent $1,150
- rent growth 16.16%
- vacancy 2.60%
- median income $87,221
- population (2018) 40,036
- population growth -1.74%
- vs. nat'l avg 44.66%
- zip codes 60012 60014 60039