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
