Rent, population, and median household income are important factors to consider for a 1031 exchange in Homer Glen due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Homer Glen, Illinois is a part of the Joliet Submarket submarket area, and contains zip code 60491.
Homer Glen Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Homer Glen, IL submarket area was $1,122, which is 23.57% higher than 2014 average rent. This represents a compounded annual growth rate of 4.32%. 2019 vacancy in Homer Glen, IL was 6.80%.
The total population of the city of Homer Glen, IL has grown 1.49% since 2010. As of 2018, the population was 24,582. The median household income of the Homer Glen was $103,048, which is 70.91% higher than the national average.
- submarket area Joliet Submarket
- avg rent $1,122
- rent growth 23.57%
- vacancy 6.80%
- median income $103,048
- population (2018) 24,582
- population growth 1.49%
- vs. nat'l avg 70.91%
- zip code 60491