Rent, population, and median household income are important factors to consider for a 1031 exchange in Lansing due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Lansing, Illinois is a part of the Southeast Cook County Submarket submarket area, and contains zip code 60438.
Lansing Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Lansing, IL submarket area was $936, which is 8.33% lower than 2014 average rent. This represents a compounded annual growth rate of 1.61%. 2019 vacancy in Lansing, IL was 2.90%.
The total population of the city of Lansing, IL has decreased 2.38% since 2010. As of 2018, the population was 27,657. The median household income of the Lansing was $52,471, which is 12.97% lower than the national average.
- submarket area Southeast Cook County Submarket
- avg rent $936
- rent growth 8.33%
- vacancy 2.90%
- median income $52,471
- population (2018) 27,657
- population growth -2.38%
- vs. nat'l avg 12.97%
- zip code 60438
