Rent, population, and median household income are important factors to consider for a 1031 exchange in Lake in the Hills due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Lake in the Hills, Illinois is a part of the McHenry County Submarket submarket area, and contains zip code 60156.
Lake in the Hills Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Lake in the Hills, IL submarket area was $1,150, which is 16.16% higher than 2014 average rent. This represents a compounded annual growth rate of 3.04%. 2019 vacancy in Lake in the Hills, IL was 2.60%.
The total population of the city of Lake in the Hills, IL has decreased 0.45% since 2010. As of 2018, the population was 28,835. The median household income of the Lake in the Hills was $90,984, which is 50.90% higher than the national average.
- submarket area McHenry County Submarket
- avg rent $1,150
- rent growth 16.16%
- vacancy 2.60%
- median income $90,984
- population (2018) 28,835
- population growth -0.45%
- vs. nat'l avg 50.90%
- zip code 60156
