Rent, population, and median household income are important factors to consider for a 1031 exchange in Evanston due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Evanston, Illinois is a part of the Glenview/Evanston Submarket submarket area, and contains 5 zip codes: 60201, 60203, 60208, 60202, and 60204.
Evanston Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Evanston, IL submarket area was $1,560, which is 31.87% higher than 2014 average rent. This represents a compounded annual growth rate of 5.69%. 2019 vacancy in Evanston, IL was 6.30%.
The total population of the city of Evanston, IL has decreased 0.51% since 2010. As of 2018, the population was 74,106. The median household income of the Evanston was $77,848, which is 29.12% higher than the national average.
- submarket area Glenview / Evanston Submarket
- avg rent $1,560
- rent growth 31.87%
- vacancy 6.30%
- median income $77,848
- population (2018) 74,106
- population growth -0.51%
- vs. nat'l avg 29.12%
- zip codes 60201 60202 60203 60204 60208