1031 Exchange Peoria, Illinois

 

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

Surrounding metropolitan Area

Peoria, Illinois is a part of the Peoria, IL metropolitan area, and contains 29 zip codes, including: 61639, 61638, 61655, 61653, 61633, and 61615.

Peoria Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Peoria, IL metropolitan area was $730, which is 9.12% lower than 2014 average rent. This represents a compounded annual growth rate of 1.76%. 2019 vacancy in Peoria, IL was 3.00%.

The total population of the city of Peoria, IL has decreased 3.15% since 2010. As of 2018, the population was 111,388. The median household income of the Peoria was $50,688, which is 15.93% lower than the national average.

  • metropolitan area Peoria, IL
  • avg rent $730
  • rent growth 9.12%
  • vacancy 3.00%
  • median income $50,688
  • population (2018) 111,388
  • population growth -3.15%
  • vs. nat'l avg 15.93%
  • zip codes 61601 61602 61603 61604 61605 61606 61607 61612 61613 61614 61615 61625 61629 61630 61633 61634 61636 61637 61638 61639 61641 61643 61650 61651 61652 61653 61654 61655 61656

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