Real Estate Investing in Evanston, Illinois (60202)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60202 (Evanston, 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 Evanston, IL (60202)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60202 Evanston
The 60202 ZIP in Evanston, IL is a local-operator market. Outside capital chasing a $411K entry has to pair deep knowledge with the discount.
The 60202 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Looking more closely, 60202 offers a low basis, the region around Evanston has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Who lives in 60202 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The right play in 60202 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Evanston:
Property Strategy for 60202
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $209,528 | $1,930 | 6.6% | +6.2% | $209,528 |
| 2BR | $304,199 | $2,170 | 5.1% | +6.7% | $152,100 |
| 3BR | $448,740 | $2,790 | 4.5% | +6.2% | $149,580 |
| 4BR | $718,193 | $3,230 | 3.2% | +5.7% | $179,548 |
| 5BR | $1,216,038 | — | — | +6.4% | $243,208 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60202 Compare?
| Metric | 60202 | Evanston | Illinois |
|---|---|---|---|
| Home Value | $410,876 | $399,362 | $279,761 |
| 5-Year CAGR | 5.0% | 5.2% | 6.6% |
| Avg Rent | $2,184 | $2,359 | - |
| Cap Rate | 4.2% | 3.5% | - |
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 60202 (Evanston, 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 | $410,876 |
| Monthly Rent | $2,184 |
| Price-to-Rent | 15.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.4% |
| Cap Rate | 4.2% |
| 5-Year IRR | 9.2% |
📈 Home Appreciation
| 1-Year | +10.8% ▲ |
| 3-Year CAGR | +5.7% ▲ |
| 5-Year CAGR | +5.0% ▲ |
| 10-Year CAGR | +4.1% ▲ |
🏠 Rent Trends
| 1-Year | +17.3% ▲ |
| 3-Year CAGR | +9.2% ▲ |
| 5-Year CAGR | +8.9% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.2%). 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 60202
Population: 32,818
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 60202
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Dewey Elem School
Dr ML King Jr Literary&Fine Arts
East Prairie Elem School
Haven Middle School
Highland Elementary 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
Is Evanston in IL worth investing in?
Our data puts Evanston, IL at 3.0/5 for investability. Home prices of $411K and rents around $2,184/mo create a solid backdrop for investor activity.
What strategy should investors use in Evanston, IL?
Investors usually favor careful cash-flow rentals with hands-on management in Evanston, IL. With home values at $411K and rents near $2,184/mo, other strategies can work but produce even-keeled rather than outsized returns.
How high is vacancy risk in Evanston, IL?
Evanston, IL carries elevated vacancy risk. Expect stable absorption at market rents of $2,184/mo.
How strict are landlord regulations in Evanston, IL?
Rental owners in Evanston, IL deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
What kind of tenants rent in Evanston, IL?
Evanston, IL offers a reliable renter base at the $2,184/mo rent level. Tenant turnover is reasonable for well-managed properties.
You know 60202 now. You don’t know where it ranks.
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How 60202 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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