Rent, population, and median household income are important factors to consider for a 1031 exchange in Geneva due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Geneva, Illinois is a part of the Kane County Submarket submarket area, and contains zip code 60134.
Geneva Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Geneva, 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 Geneva, IL was 6.70%.
The total population of the city of Geneva, IL has grown 1.70% since 2010. As of 2018, the population was 21,861. The median household income of the Geneva was $111,232, which is 84.49% higher than the national average.
- submarket area Kane County Submarket
- avg rent $1,424
- rent growth 25.68%
- vacancy 6.70%
- median income $111,232
- population (2018) 21,861
- population growth 1.70%
- vs. nat'l avg 84.49%
- zip code 60134