1031 Exchange Shorewood, Illinois

 

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

Surrounding submarket Area

Shorewood, Illinois is a part of the Joliet Submarket submarket area, and contains zip code 60404.

Shorewood Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Shorewood, 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 Shorewood, IL was 6.80%.

The total population of the city of Shorewood, IL has grown 11.34% since 2010. As of 2018, the population was 17,385. The median household income of the Shorewood was $102,730, which is 70.38% higher than the national average.

  • submarket area Joliet Submarket
  • avg rent $1,122
  • rent growth 23.57%
  • vacancy 6.80%
  • median income $102,730
  • population (2018) 17,385
  • population growth 11.34%
  • vs. nat'l avg 70.38%
  • zip code 60404

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