Rent, population, and median household income are important factors to consider for a 1031 exchange in Orland Park due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Orland Park, Illinois is a part of the Southwest Cook County Submarket submarket area, and contains zip codes 60462 and 60467.
Orland Park Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Orland Park, 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 Orland Park, IL was 2.00%.
The total population of the city of Orland Park, IL has grown 2.72% since 2010. As of 2018, the population was 58,312. The median household income of the Orland Park was $88,585, which is 46.92% higher than the national average.
- submarket area Southwest Cook County Submarket
- avg rent $958
- rent growth 9.11%
- vacancy 2.00%
- median income $88,585
- population (2018) 58,312
- population growth 2.72%
- vs. nat'l avg 46.92%
- zip codes 60462 60467