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