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1031 Exchange Lombard, Illinois

 

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

Surrounding submarket Area

Lombard, Illinois is a part of the Glendale Heights/Lombard Submarket submarket area, and contains zip code 60148.

Lombard Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Lombard, IL submarket area was $1,497, which is 18.90% higher than 2014 average rent. This represents a compounded annual growth rate of 3.52%. 2019 vacancy in Lombard, IL was 4.10%.

The total population of the city of Lombard, IL has grown 3.15% since 2010. As of 2018, the population was 44,523. The median household income of the Lombard was $79,684, which is 32.16% higher than the national average.

  • submarket area Glendale Heights / Lombard Submarket
  • avg rent $1,497
  • rent growth 18.90%
  • vacancy 4.10%
  • median income $79,684
  • population (2018) 44,523
  • population growth 3.15%
  • vs. nat'l avg 32.16%
  • zip code 60148

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