Rent, population, and median household income are important factors to consider for a 1031 exchange in Des Plaines due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Des Plaines, Illinois is a part of the O'Hare Submarket submarket area, and contains 4 zip codes: 60016, 60018, 60017, and 60019.
Des Plaines Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Des Plaines, IL submarket area was $1,210, which is 18.86% higher than 2014 average rent. This represents a compounded annual growth rate of 3.52%. 2019 vacancy in Des Plaines, IL was 9.40%.
The total population of the city of Des Plaines, IL has grown 1.02% since 2010. As of 2018, the population was 58,959. The median household income of the Des Plaines was $67,636, which is 12.18% higher than the national average.
- submarket area O'Hare Submarket
- avg rent $1,210
- rent growth 18.86%
- vacancy 9.40%
- median income $67,636
- population (2018) 58,959
- population growth 1.02%
- vs. nat'l avg 12.18%
- zip codes 60016 60017 60018 60019