Rent, population, and median household income are important factors to consider for a 1031 exchange in Downers Grove due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Downers Grove, Illinois is a part of the Downers Grove Submarket submarket area, and contains zip codes 60515 and 60516.
Downers Grove Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Downers Grove, IL submarket area was $1,211, which is 14.57% higher than 2014 average rent. This represents a compounded annual growth rate of 2.76%. 2019 vacancy in Downers Grove, IL was 3.60%.
The total population of the city of Downers Grove, IL has grown 3.25% since 2010. As of 2018, the population was 49,387. The median household income of the Downers Grove was $88,105, which is 46.13% higher than the national average.
- submarket area Downers Grove Submarket
- avg rent $1,211
- rent growth 14.57%
- vacancy 3.60%
- median income $88,105
- population (2018) 49,387
- population growth 3.25%
- vs. nat'l avg 46.13%
- zip codes 60515 60516