1031 Exchange Homewood, Illinois

 

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

Surrounding submarket Area

Homewood, Illinois is a part of the Southeast Cook County Submarket submarket area, and contains zip code 60430.

Homewood Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Homewood, IL submarket area was $936, which is 8.33% higher than 2014 average rent. This represents a compounded annual growth rate of 1.61%. 2019 vacancy in Homewood, IL was 2.90%.

The total population of the city of Homewood, IL has decreased 2.27% since 2010. As of 2018, the population was 18,885. The median household income of the Homewood was $73,106, which is 21.25% higher than the national average.

  • submarket area Southeast Cook County Submarket
  • avg rent $936
  • rent growth 8.33%
  • vacancy 2.90%
  • median income $73,106
  • population (2018) 18,885
  • population growth -2.27%
  • vs. nat'l avg 21.25%
  • zip code 60430

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