Rent, population, and median household income are important factors to consider for a 1031 exchange in Zion due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Zion, Illinois is a part of the East Lake County Submarket submarket area, and contains zip code 60099.
Zion Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Zion, IL submarket area was $1,273, which is 22.29% lower than 2014 average rent. This represents a compounded annual growth rate of 4.11%. 2019 vacancy in Zion, IL was 5.00%.
The total population of the city of Zion, IL has decreased 2.90% since 2010. As of 2018, the population was 23,705. The median household income of the Zion was $51,039, which is 15.35% lower than the national average.
- submarket area East Lake County Submarket
- avg rent $1,273
- rent growth 22.29%
- vacancy 5.00%
- median income $51,039
- population (2018) 23,705
- population growth -2.90%
- vs. nat'l avg 15.35%
- zip code 60099