Rent, population, and median household income are important factors to consider for a 1031 exchange in Naperville due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Naperville, Illinois is a part of the Aurora/Naperville Submarket submarket area, and contains 6 zip codes: 60565, 60567, 60564, 60540, 60563, and 60566.
Naperville Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Naperville, 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 Naperville, IL was 4.90%.
The total population of the city of Naperville, IL has grown 4.55% since 2010. As of 2018, the population was 148,304. The median household income of the Naperville was $118,187, which is 96.02% higher than the national average.
- submarket area Aurora / Naperville Submarket
- avg rent $1,344
- rent growth 13.32%
- vacancy 4.90%
- median income $118,187
- population (2018) 148,304
- population growth 4.55%
- vs. nat'l avg 96.02%
- zip codes 60540 60563 60564 60565 60566 60567
