Rent, population, and median household income are important factors to consider for a 1031 exchange in Woodridge due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Woodridge, Illinois is a part of the Downers Grove Submarket submarket area, and contains zip code 60517.
Woodridge Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Woodridge, IL submarket area was $1,211, which is 14.57% higher than 2014 average rent. This represents a compounded annual growth rate of 2.76%. 2019 vacancy in Woodridge, IL was 3.60%.
The total population of the city of Woodridge, IL has grown 1.80% since 2010. As of 2018, the population was 33,566. The median household income of the Woodridge was $85,192, which is 41.30% higher than the national average.
- submarket area Downers Grove Submarket
- avg rent $1,211
- rent growth 14.57%
- vacancy 3.60%
- median income $85,192
- population (2018) 33,566
- population growth 1.80%
- vs. nat'l avg 41.30%
- zip code 60517