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1031 Exchange Oak Forest, Illinois

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Oak Forest due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

Oak Forest, Illinois is a part of the Southwest Cook County Submarket submarket area, and contains zip code 60452.

Oak Forest Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Oak Forest, IL submarket area was $958, which is 9.11% higher than 2014 average rent. This represents a compounded annual growth rate of 1.76%. 2019 vacancy in Oak Forest, IL was 2.00%.

The total population of the city of Oak Forest, IL has decreased 1.99% since 2010. As of 2018, the population was 27,406. The median household income of the Oak Forest was $75,991, which is 26.04% higher than the national average.

  • submarket area Southwest Cook County Submarket
  • avg rent $958
  • rent growth 9.11%
  • vacancy 2.00%
  • median income $75,991
  • population (2018) 27,406
  • population growth -1.99%
  • vs. nat'l avg 26.04%
  • zip code 60452

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