1031 Exchange Schaumburg, Illinois

 

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

Surrounding submarket Area

Schaumburg, Illinois is a part of the Schaumburg/Hoffman Submarket submarket area, and contains 7 zip codes, including: 60173, 60168, 60159, 60196, 60194, and 60195.

Schaumburg Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Schaumburg, IL submarket area was $1,213, which is 6.68% higher than 2014 average rent. This represents a compounded annual growth rate of 1.30%. 2019 vacancy in Schaumburg, IL was 3.40%.

The total population of the city of Schaumburg, IL has decreased 0.97% since 2010. As of 2018, the population was 73,509. The median household income of the Schaumburg was $79,740, which is 32.25% higher than the national average.

  • submarket area Schaumburg / Hoffman Submarket
  • avg rent $1,213
  • rent growth 6.68%
  • vacancy 3.40%
  • median income $79,740
  • population (2018) 73,509
  • population growth -0.97%
  • vs. nat'l avg 32.25%
  • zip codes 60159 60168 60173 60193 60194 60195 60196

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