1031 Exchange McHenry, Illinois

 

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

Surrounding submarket Area

McHenry, Illinois is a part of the McHenry County Submarket submarket area, and contains zip codes 60050 and 60051.

McHenry Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the McHenry, 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 McHenry, IL was 2.60%.

The total population of the city of McHenry, IL has grown 0.11% since 2010. As of 2018, the population was 27,022. The median household income of the McHenry was $72,574, which is 20.37% higher than the national average.

  • submarket area McHenry County Submarket
  • avg rent $1,150
  • rent growth 16.16%
  • vacancy 2.60%
  • median income $72,574
  • population (2018) 27,022
  • population growth 0.11%
  • vs. nat'l avg 20.37%
  • zip codes 60050 60051

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