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1031 Exchange Joliet, Illinois

 

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

Surrounding submarket Area

Joliet, Illinois is a part of the Joliet Submarket submarket area, and contains 6 zip codes: 60431, 60432, 60436, 60435, 60434, and 60433.

Joliet Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Joliet, 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 Joliet, IL was 6.80%.

The total population of the city of Joliet, IL has grown 0.45% since 2010. As of 2018, the population was 148,099. The median household income of the Joliet was $67,504, which is 11.96% higher than the national average.

  • submarket area Joliet Submarket
  • avg rent $1,122
  • rent growth 23.57%
  • vacancy 6.80%
  • median income $67,504
  • population (2018) 148,099
  • population growth 0.45%
  • vs. nat'l avg 11.96%
  • zip codes 60431 60432 60433 60434 60435 60436

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