1031 Exchange University Park, Illinois


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

Surrounding submarket Area

University Park, Illinois is a part of the Southeast Cook County Submarket submarket area, and contains zip code 60484.

University Park Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the University Park, IL submarket area was $936, which is 8.33% lower than 2014 average rent. This represents a compounded annual growth rate of 1.61%. 2019 vacancy in University Park, IL was 2.90%.

The total population of the city of University Park, IL has decreased 2.40% since 2010. As of 2018, the population was 6,958. The median household income of the University Park was $53,929, which is 10.56% lower than the national average.

  • submarket area Southeast Cook County Submarket
  • avg rent $936
  • rent growth 8.33%
  • vacancy 2.90%
  • median income $53,929
  • population (2018) 6,958
  • population growth -2.40%
  • vs. nat'l avg 10.56%
  • zip code 60484

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