Rent, population, and median household income are important factors to consider for a 1031 exchange in Northfield due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Northfield, Illinois is a part of the Glenview/Evanston Submarket submarket area.
Northfield Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Northfield, 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 Northfield, IL was 6.30%.
The total population of the city of Northfield, IL has grown 0.04% since 2010. As of 2018, the population was 5,422. The median household income of the Northfield was $120,125, which is 99.24% higher than the national average.
- submarket area Glenview / Evanston Submarket
- avg rent $1,560
- rent growth 31.87%
- vacancy 6.30%
- median income $120,125
- population (2018) 5,422
- population growth 0.04%
- vs. nat'l avg 99.24%