1031 Exchange Romeoville, Illinois

 

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

Surrounding submarket Area

Romeoville, Illinois is a part of the Joliet Submarket submarket area, and contains zip code 60446.

Romeoville Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Romeoville, IL submarket area was $1,122, which is 23.57% higher than 2014 average rent. This represents a compounded annual growth rate of 4.32%. 2019 vacancy in Romeoville, IL was 6.80%.

The total population of the city of Romeoville, IL has decreased 0.14% since 2010. As of 2018, the population was 39,624. The median household income of the Romeoville was $77,053, which is 27.80% higher than the national average.

  • submarket area Joliet Submarket
  • avg rent $1,122
  • rent growth 23.57%
  • vacancy 6.80%
  • median income $77,053
  • population (2018) 39,624
  • population growth -0.14%
  • vs. nat'l avg 27.80%
  • zip code 60446

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