Rent, population, and median household income are important factors to consider for a 1031 exchange in Tinley Park due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Tinley Park, Illinois is a part of the Southwest Cook County Submarket submarket area, and contains zip codes 60477 and 60487.
Tinley Park Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Tinley Park, IL submarket area was $958, which is 9.11% higher than 2014 average rent. This represents a compounded annual growth rate of 1.76%. 2019 vacancy in Tinley Park, IL was 2.00%.
The total population of the city of Tinley Park, IL has decreased 0.88% since 2010. As of 2018, the population was 56,204. The median household income of the Tinley Park was $76,183, which is 26.35% higher than the national average.
- submarket area Southwest Cook County Submarket
- avg rent $958
- rent growth 9.11%
- vacancy 2.00%
- median income $76,183
- population (2018) 56,204
- population growth -0.88%
- vs. nat'l avg 26.35%
- zip codes 60477 60487