Rent, population, and median household income are important factors to consider for a 1031 exchange in West Chicago due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
West Chicago, Illinois is a part of the Glen Ellyn/Wheaton Submarket submarket area, and contains zip codes 60185 and 60186.
West Chicago Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the West Chicago, IL submarket area was $1,273, which is 17.87% higher than 2014 average rent. This represents a compounded annual growth rate of 3.34%. 2019 vacancy in West Chicago, IL was 3.90%.
The total population of the city of West Chicago, IL has decreased 0.15% since 2010. As of 2018, the population was 27,045. The median household income of the West Chicago was $71,268, which is 18.20% higher than the national average.
- submarket area Glen Ellyn / Wheaton Submarket
- avg rent $1,273
- rent growth 17.87%
- vacancy 3.90%
- median income $71,268
- population (2018) 27,045
- population growth -0.15%
- vs. nat'l avg 18.20%
- zip codes 60185 60186