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