Rent, population, and median household income are important factors to consider for a 1031 exchange in Montgomery due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Montgomery, Illinois is a part of the Aurora/Naperville Submarket submarket area, and contains zip code 60538.
Montgomery Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Montgomery, IL submarket area was $1,344, which is 13.32% higher than 2014 average rent. This represents a compounded annual growth rate of 2.53%. 2019 vacancy in Montgomery, IL was 4.90%.
The total population of the city of Montgomery, IL has grown 7.11% since 2010. As of 2018, the population was 19,749. The median household income of the Montgomery was $86,407, which is 43.31% higher than the national average.
- submarket area Aurora / Naperville Submarket
- avg rent $1,344
- rent growth 13.32%
- vacancy 4.90%
- median income $86,407
- population (2018) 19,749
- population growth 7.11%
- vs. nat'l avg 43.31%
- zip code 60538
