Real Estate Investing in Gurnee, Illinois (60031)
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Should you buy in 60031 (Gurnee, IL)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Gurnee, IL (60031)?
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Market Analysis: 60031 Gurnee
This part of Lake County is not an easy win. The 60031 ZIP reports softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Rent of $1,939/mo on a $381K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 60031 sits below the stated 0.0% once reality is priced in.
Regionally, 60031 sits on the difficult end of the IL spectrum. The an appealing option for read — for disciplined operators — is that pricing reflects the difficulty.
The demographic picture in 60031 includes headwinds that any investor should price in. Income distribution skews lower than Gurnee averages, and tenant stability requires active management.
New investors are better served looking at Gurnee's stable or hybrid ZIPs before stepping into 60031. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Gurnee:
Property Strategy for 60031
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $162,356 | $1,800 | 8.0% | +9.5% | $162,356 |
| 2BR | $239,332 | $2,030 | 6.1% | +9.8% | $119,666 |
| 3BR | $336,656 | $2,610 | 5.6% | +7.9% | $112,219 |
| 4BR | $460,606 | $3,020 | 4.7% | +7.8% | $115,151 |
| 5BR | $543,344 | — | — | +7.8% | $108,669 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60031 Compare?
| Metric | 60031 | Gurnee | Illinois |
|---|---|---|---|
| Home Value | $381,489 | $381,489 | $279,761 |
| 5-Year CAGR | 6.4% | 6.4% | 6.6% |
| Avg Rent | $1,939 | $1,939 | - |
| Cap Rate | 4.0% | 4.0% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 60031 (Gurnee, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $381,489 |
| Monthly Rent | $1,939 |
| Price-to-Rent | 16.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.1% |
| Cap Rate | 4.0% |
| 5-Year IRR | 10.4% |
📈 Home Appreciation
| 1-Year | +8.5% ▲ |
| 3-Year CAGR | +5.9% ▲ |
| 5-Year CAGR | +6.4% ▲ |
| 10-Year CAGR | +5.4% ▲ |
🏠 Rent Trends
| 1-Year | +2.3% ▲ |
| 3-Year CAGR | +4.6% ▲ |
| 5-Year CAGR | +5.2% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 60031
Population: 37,208
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 60031
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,032 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Are rents high in Gurnee, IL?
Gurnee, IL rentals go for roughly $1,939/mo a month. That puts gross yield in solid territory relative to $381K acquisition costs.
How strong is tenant demand in Gurnee, IL?
Gurnee, IL draws a reliable base of working renters. Demand at the $1,939/mo rent level is reasonable for standard single-family and small multi rentals.
What price range are homes in Gurnee, IL?
Median home price in Gurnee, IL is near $381K, with a 5-year CAGR of 0.0%. Prices have been consistent and supportive of buy-and-hold strategies.
Is Gurnee, IL landlord-friendly?
IL law landlord-friendly for landlords, and Gurnee inherits those rules. Investors should still review local ordinances for rental licensing.
Does a duplex house hack pencil in Gurnee, IL?
The a challenging house-hack environment in Gurnee, IL reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
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