Rent, population, and median household income are important factors to consider for a 1031 exchange in Oak Brook due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Oak Brook, Illinois is a part of the Downers Grove Submarket submarket area, and contains zip code 60523.
Oak Brook Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Oak Brook, IL submarket area was $1,211, which is 14.57% higher than 2014 average rent. This represents a compounded annual growth rate of 2.76%. 2019 vacancy in Oak Brook, IL was 3.60%.
The total population of the city of Oak Brook, IL has grown 2.42% since 2010. As of 2018, the population was 8,074. The median household income of the Oak Brook was $137,059, which is 127.32% higher than the national average.
- submarket area Downers Grove Submarket
- avg rent $1,211
- rent growth 14.57%
- vacancy 3.60%
- median income $137,059
- population (2018) 8,074
- population growth 2.42%
- vs. nat'l avg 127.32%
- zip code 60523