Rent, population, and median household income are important factors to consider for a 1031 exchange in Elburn due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Elburn, Illinois is a part of the Kane County Submarket submarket area, and contains zip code 60119.
Elburn Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Elburn, IL submarket area was $1,424, which is 25.68% higher than 2014 average rent. This represents a compounded annual growth rate of 4.68%. 2019 vacancy in Elburn, IL was 6.70%.
The total population of the city of Elburn, IL has grown 5.78% since 2010. As of 2018, the population was 5,926. The median household income of the Elburn was $108,500, which is 79.95% higher than the national average.
- submarket area Kane County Submarket
- avg rent $1,424
- rent growth 25.68%
- vacancy 6.70%
- median income $108,500
- population (2018) 5,926
- population growth 5.78%
- vs. nat'l avg 79.95%
- zip code 60119