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1031 Exchange Park City, Illinois

 

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

Surrounding submarket Area

Park City, Illinois is a part of the East Lake County Submarket submarket area.

Park City Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Park City, IL submarket area was $1,273, which is 22.29% lower than 2014 average rent. This represents a compounded annual growth rate of 4.11%. 2019 vacancy in Park City, IL was 5.00%.

The total population of the city of Park City, IL has decreased 1.49% since 2010. As of 2018, the population was 7,457. The median household income of the Park City was $41,589, which is 31.02% lower than the national average.

  • submarket area East Lake County Submarket
  • avg rent $1,273
  • rent growth 22.29%
  • vacancy 5.00%
  • median income $41,589
  • population (2018) 7,457
  • population growth -1.49%
  • vs. nat'l avg 31.02%

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