Real Estate Investing in Morton Grove, Illinois (60053)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60053 (Morton Grove, IL)? Our answer, based on the numbers below.
Strong fundamentals — affordable, appreciating, and stable. A confident pick for primary residence.
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 Morton Grove, IL (60053)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60053 Morton Grove
On balance, ZIP 60053 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $455K median. It rewards specialists, not generalists.
Distressed markets are won on execution, not on spreadsheets. ZIP 60053 comes in at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Within IL, ZIP 60053 trails on several market indicators that neighboring Cook County submarkets outperform. The gap is real and substantial enough to shape underwriting.
Resident income in 60053 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
appears 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 Morton Grove:
Property Strategy for 60053
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $181,419 | $2,370 | 9.4% | +7.0% | $181,419 |
| 2BR | $325,144 | $2,670 | 5.9% | +8.1% | $162,572 |
| 3BR | $413,529 | $3,440 | 6.0% | +7.4% | $137,843 |
| 4BR | $500,725 | $3,980 | 5.7% | +6.7% | $125,181 |
| 5BR | $672,329 | — | — | +7.2% | $134,466 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60053 Compare?
| Metric | 60053 | Morton Grove | Illinois |
|---|---|---|---|
| Home Value | $454,884 | $454,884 | $279,761 |
| 5-Year CAGR | 7.0% | 7.0% | 6.6% |
| Avg Rent | $2,497 | $2,497 | - |
| Cap Rate | 4.3% | 4.3% | - |
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 60053 (Morton Grove, IL). Anonymous, moderated, never written by AI.
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Property managers serving Cook County
Manage rentals here? List your business →American Property Management of Illinois, Inc. (Associa) provides comprehensive HOA and condominium management services in Chicago and surrounding areas. summary from their website
Blackhawk Realty Management, LLC provides professional property management and real estate services for its multifamily apartment portfolio, founded in 2004. summary from their website
Buckingham Property Management, Inc. offers apartment rentals and management services. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $454,884 |
| Monthly Rent | $2,497 |
| Price-to-Rent | 15.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.6% |
| Cap Rate | 4.3% |
| 5-Year IRR | 11.3% |
📈 Home Appreciation
| 1-Year | +11.4% ▲ |
| 3-Year CAGR | +8.0% ▲ |
| 5-Year CAGR | +7.0% ▲ |
| 10-Year CAGR | +5.4% ▲ |
🏠 Rent Trends
| 1-Year | -8.6% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.3%). 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 60053
Population: 24,687
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 60053
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Avoca West Elem School
Clarence E Culver School
Fairview South Elementary School
Glen Grove Elem School
Hoffman Elem School
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
Frequently Asked Questions
What price range are homes in Morton Grove, IL?
Median home price in Morton Grove, IL is near $455K, with a 5-year CAGR of 0.0%. Prices have been consistent and supportive of buy-and-hold strategies.
What is the tenant pool like in Morton Grove, IL?
The tenant pool in Morton Grove, IL is solid, supported by local employment and population fundamentals. Rents of $2,497/mo are well-absorbed by the market.
Does a duplex house hack pencil in Morton Grove, IL?
The a challenging house-hack environment in Morton Grove, IL reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
How high is vacancy risk in Morton Grove, IL?
Morton Grove, IL carries elevated vacancy risk. Expect predictable absorption at market rents of $2,497/mo.
How strict are landlord regulations in Morton Grove, IL?
Rental owners in Morton Grove, IL deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
You know 60053 now. You don’t know where it ranks.
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How 60053 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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