Real Estate Investing in Elgin, Illinois (60120)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60120 (Elgin, 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 Elgin, IL (60120)?
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Market Analysis: 60120 Elgin
Investors eyeing 60120 need to respect the fundamentals at play. Home values of $307K come alongside slower price movement and elevated management overhead.
The investment case in 60120 is solid only for operators who understand what they are buying. A $307K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Within IL, ZIP 60120 trails on several market indicators that neighboring Cook County submarkets outperform. The gap is real and substantial enough to shape underwriting.
Employment concentration in 60120 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
New investors are better served looking at Elgin's stable or hybrid ZIPs before stepping into 60120. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Elgin:
Property Strategy for 60120
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $178,221 | $1,460 | 5.9% | +10.5% | $178,221 |
| 2BR | $244,122 | $1,640 | 4.8% | +9.8% | $122,061 |
| 3BR | $298,893 | $2,110 | 5.1% | +8.1% | $99,631 |
| 4BR | $344,095 | $2,440 | 5.1% | +8.0% | $86,024 |
| 5BR | $353,291 | — | — | +8.0% | $70,658 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60120 Compare?
| Metric | 60120 | Elgin | Illinois |
|---|---|---|---|
| Home Value | $307,100 | $378,768 | $279,761 |
| 5-Year CAGR | 7.2% | 7.0% | 6.6% |
| Avg Rent | $1,624 | $1,855 | - |
| Cap Rate | 4.1% | 3.9% | - |
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 60120 (Elgin, 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 | $307,100 |
| Monthly Rent | $1,624 |
| Price-to-Rent | 15.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.3% |
| Cap Rate | 4.1% |
| 5-Year IRR | 11.3% |
📈 Home Appreciation
| 1-Year | +7.1% ▲ |
| 3-Year CAGR | +6.9% ▲ |
| 5-Year CAGR | +7.2% ▲ |
| 10-Year CAGR | +7.4% ▲ |
🏠 Rent Trends
| 1-Year | -1.7% ▼ |
| 3-Year CAGR | +3.0% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.1%). 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 60120
Population: 50,774
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 60120
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 4,404 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much is rent in Elgin, IL?
Elgin, IL rentals go for roughly $1,624/mo a month. That puts gross yield in solid territory relative to $307K acquisition costs.
How quickly do rentals get leased in Elgin, IL?
Elgin, IL carries elevated vacancy risk. Expect stable absorption at market rents of $1,624/mo.
How does Elgin, IL rate as a rental market?
Elgin, IL scores 3.0/5 for investability. Home values sit at $307K and rents near $1,624/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
What is the median home value in Elgin, IL?
Expect median prices around $307K in Elgin, IL. The market has run at a 0.0% 5-year CAGR, so entry costs have been steady.
How strong is tenant demand in Elgin, IL?
Elgin, IL draws a stable base of working renters. Demand at the $1,624/mo rent level is reasonable for standard single-family and small multi rentals.
You know 60120 now. You don’t know where it ranks.
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How 60120 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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