Real Estate Investing in Island Lake, Illinois (60042)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60042 (Island Lake, 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 Island Lake, IL (60042)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60042 Island Lake
ZIP 60042 inside McHenry County looks affordable on the surface — median value of $309K — but the discount exists for reasons that a careful buyer should understand before committing.
For an experienced owner, 60042 can be a a viable market for hunting ground — but the discount at $309K reflects genuine risk that outside investors often underestimate.
ZIP 60042's metrics run below McHenry County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
The demographic picture in 60042 includes headwinds that any investor should price in. Income distribution skews lower than Island Lake averages, and tenant stability requires active management.
seems to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Island Lake:
Property Strategy for 60042
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $234,588 | $2,250 | 6.9% | +9.5% | $117,294 |
| 3BR | $294,940 | $2,900 | 7.1% | +9.2% | $98,313 |
| 4BR | $406,454 | $3,350 | 5.9% | +9.0% | $101,614 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60042 Compare?
| Metric | 60042 | Island Lake | Illinois |
|---|---|---|---|
| Home Value | $309,266 | $309,266 | $279,761 |
| 5-Year CAGR | 7.4% | 7.4% | 6.6% |
| Avg Rent | $1,873 | $1,873 | - |
| Cap Rate | 4.7% | 4.7% | - |
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 60042 (Island Lake, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $309,266 |
| Monthly Rent | $1,873 |
| Price-to-Rent | 13.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.3% |
| Cap Rate | 4.7% |
| 5-Year IRR | 12.1% |
📈 Home Appreciation
| 1-Year | +8.8% ▲ |
| 3-Year CAGR | +7.0% ▲ |
| 5-Year CAGR | +7.4% ▲ |
| 10-Year CAGR | +7.1% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.7%). 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 60042
Population: 8,630
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 60042
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 4,833 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What monthly rent should investors expect in Island Lake, IL?
Average rent in Island Lake, IL is approximately $1,873/mo per month. Against $309K home values that yields a reasonable rent-to-price ratio.
Is the tenant base reliable in Island Lake, IL?
Tenant demand in Island Lake, IL is solid. The local workforce $1,873/mo rents across most rental classes.
What is the investability score for Island Lake, IL?
Yes - Island Lake, IL a 3.0/5 investability score. With $309K home prices against $1,873/mo monthly rent, the market delivers a reasonable entry point for new investors.
What is the typical vacancy rate in Island Lake, IL?
Occupancy in Island Lake, IL runs predictable with elevated vacancy. Well-priced units at $1,873/mo lease on reasonable timelines.
Is Island Lake, IL good for house hacking?
House hacking in Island Lake, IL is a challenging. With home values around $309K and rents at $1,873/mo, owner-occupants can offset a meaningful share of PITI.
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