Rent, population, and median household income are important factors to consider for a 1031 exchange in Rockford due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan Area
Rockford, Illinois is a part of the Rockford, IL metropolitan area, and contains 14 zip codes, including: 61103, 61104, 61105, 61106, 61110, and 61101.
Rockford Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Rockford, IL metropolitan area was $731, which is 10.59% lower than 2014 average rent. This represents a compounded annual growth rate of 2.03%. 2019 vacancy in Rockford, IL was 2.40%.
The total population of the city of Rockford, IL has decreased 4.15% since 2010. As of 2018, the population was 146,526. The median household income of the Rockford was $43,066, which is 28.57% lower than the national average.
- metropolitan area Rockford, IL
- avg rent $731
- rent growth 10.59%
- vacancy 2.40%
- median income $43,066
- population (2018) 146,526
- population growth -4.15%
- vs. nat'l avg 28.57%
- zip codes 61101 61102 61103 61104 61105 61106 61107 61108 61109 61110 61112 61114 61125 61126
