Rent, population, and median household income are important factors to consider for a 1031 exchange in Inverness due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Inverness, Illinois is a part of the Palatine Submarket submarket area.
Inverness Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Inverness, IL submarket area was $1,343, which is 5.91% higher than 2014 average rent. This represents a compounded annual growth rate of 1.16%. 2019 vacancy in Inverness, IL was 4.80%.
The total population of the city of Inverness, IL has grown 0.53% since 2010. As of 2018, the population was 7,438. The median household income of the Inverness was $180,541, which is 199.44% higher than the national average.
- submarket area Palatine Submarket
- avg rent $1,343
- rent growth 5.91%
- vacancy 4.80%
- median income $180,541
- population (2018) 7,438
- population growth 0.53%
- vs. nat'l avg 199.44%