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
