Rent, population, and median household income are important factors to consider for a 1031 exchange in Wilmette due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Wilmette, Illinois is a part of the Glenview/Evanston Submarket submarket area, and contains zip code 60091.
Wilmette Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Wilmette, 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 Wilmette, IL was 6.30%.
The total population of the city of Wilmette, IL has grown 1.99% since 2010. As of 2018, the population was 27,625. The median household income of the Wilmette was $154,738, which is 156.64% higher than the national average.
- submarket area Glenview / Evanston Submarket
- avg rent $1,560
- rent growth 31.87%
- vacancy 6.30%
- median income $154,738
- population (2018) 27,625
- population growth 1.99%
- vs. nat'l avg 156.64%
- zip code 60091