1031 Exchange Park Ridge, Illinois

 

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

Surrounding submarket Area

Park Ridge, Illinois is a part of the Glenview/Evanston Submarket submarket area, and contains zip code 60068.

Park Ridge Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Park Ridge, 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 Park Ridge, IL was 6.30%.

The total population of the city of Park Ridge, IL has decreased 0.64% since 2010. As of 2018, the population was 37,240. The median household income of the Park Ridge was $102,416, which is 69.86% higher than the national average.

  • submarket area Glenview / Evanston Submarket
  • avg rent $1,560
  • rent growth 31.87%
  • vacancy 6.30%
  • median income $102,416
  • population (2018) 37,240
  • population growth -0.64%
  • vs. nat'l avg 69.86%
  • zip code 60068

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