Rent, population, and median household income are important factors to consider for a 1031 exchange in Wheaton due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Wheaton, Illinois is a part of the Glen Ellyn/Wheaton Submarket submarket area, and contains zip codes 60187 and 60189.
Wheaton Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Wheaton, 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 Wheaton, IL was 3.90%.
The total population of the city of Wheaton, IL has grown 0.48% since 2010. As of 2018, the population was 53,150. The median household income of the Wheaton was $98,544, which is 63.44% higher than the national average.
- submarket area Glen Ellyn / Wheaton Submarket
- avg rent $1,273
- rent growth 17.87%
- vacancy 3.90%
- median income $98,544
- population (2018) 53,150
- population growth 0.48%
- vs. nat'l avg 63.44%
- zip codes 60187 60189