1031 Exchange Skokie, Illinois

 

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

Surrounding submarket Area

Skokie, Illinois is a part of the Glenview/Evanston Submarket submarket area, and contains zip codes 60076 and 60077.

Skokie Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Skokie, IL submarket area was $1,560, which is 31.87% higher than 2014 average rent. This represents a compounded annual growth rate of 5.69%. 2019 vacancy in Skokie, IL was 6.30%.

The total population of the city of Skokie, IL has decreased 2.32% since 2010. As of 2018, the population was 63,280. The median household income of the Skokie was $74,272, which is 23.19% higher than the national average.

  • submarket area Glenview / Evanston Submarket
  • avg rent $1,560
  • rent growth 31.87%
  • vacancy 6.30%
  • median income $74,272
  • population (2018) 63,280
  • population growth -2.32%
  • vs. nat'l avg 23.19%
  • zip codes 60076 60077

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