1031 Exchange Harvard, Illinois

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Harvard due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

Harvard, Illinois is a part of the McHenry County Submarket submarket area, and contains zip code 60033.

Harvard Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Harvard, IL submarket area was $1,150, which is 16.16% lower than 2014 average rent. This represents a compounded annual growth rate of 3.04%. 2019 vacancy in Harvard, IL was 2.60%.

The total population of the city of Harvard, IL has decreased 3.36% since 2010. As of 2018, the population was 9,130. The median household income of the Harvard was $53,169, which is 11.82% lower than the national average.

  • submarket area McHenry County Submarket
  • avg rent $1,150
  • rent growth 16.16%
  • vacancy 2.60%
  • median income $53,169
  • population (2018) 9,130
  • population growth -3.36%
  • vs. nat'l avg 11.82%
  • zip code 60033

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