Rent, population, and median household income are important factors to consider for a 1031 exchange in Niles due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Niles, Illinois is a part of the Glenview/Evanston Submarket submarket area, and contains zip code 60714.
Niles Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Niles, IL submarket area was $1,560, which is 31.87% higher than 2014 average rent. This represents a compounded annual growth rate of 5.69%. 2019 vacancy in Niles, IL was 6.30%.
The total population of the city of Niles, IL has decreased 2.08% since 2010. As of 2018, the population was 29,184. The median household income of the Niles was $60,672, which is 0.63% higher than the national average.
- submarket area Glenview / Evanston Submarket
- avg rent $1,560
- rent growth 31.87%
- vacancy 6.30%
- median income $60,672
- population (2018) 29,184
- population growth -2.08%
- vs. nat'l avg 0.63%
- zip code 60714