Real Estate Investing in Gardner, Illinois (60424)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60424 (Gardner, IL)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 12.6% of homes vacant — above national norms.
- Higher unemployment: 8.1% unemployment — tenant risk signal.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Gardner, IL (60424)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60424 Gardner
ZIP 60424 inside Grundy looks affordable on the surface — median value of $238K — but the discount exists for reasons that a careful buyer should understand before committing.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $238K asset, 60424 is the wrong submarket. If the plan prices in friction, the yield can still work.
ZIP 60424's metrics run below Grundy's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
A sturdy renter share of 25% in 60424 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Experienced landlords with local relationships tend to find 60424 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Gardner:
Market Trends
Home Value History (with trend line)
📊 How Does 60424 Compare?
| Metric | 60424 | Gardner | Illinois |
|---|---|---|---|
| Home Value | $238,323 | $238,323 | $279,761 |
| 5-Year CAGR | 4.7% | 4.7% | 6.6% |
| Avg Rent | $1,224 | $1,224 | - |
| 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 60424 (Gardner, IL). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 60424 (Gardner, IL)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $238,323 |
| Monthly Rent | $1,224 |
| Price-to-Rent | 16.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.2% |
| Cap Rate | 4.0% |
| 5-Year IRR | 8.7% |
📈 Home Appreciation
| 1-Year | +0.7% ▲ |
| 3-Year CAGR | +3.9% ▲ |
| 5-Year CAGR | +4.7% ▲ |
| 10-Year CAGR | +4.7% ▲ |
🏠 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 (4.0%). 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 60424
Population: 2,170
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 60424
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.
Frequently Asked Questions
What is the best play in Gardner, IL?
Gardner, IL investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($238K prices, $1,224/mo rents) make it a reasonable choice.
What monthly rent should investors expect in Gardner, IL?
Rental rates in Gardner, IL average $1,224/mo. Tenant demand and $238K home values make the yield look reasonable by investor standards.
What is the renter demographic in Gardner, IL?
Tenant quality in Gardner, IL ranks as solid. Landlords generally report even-keeled occupancy at market rents of $1,224/mo.
Does house hacking work in Gardner, IL?
House hacking in Gardner, IL is reasonable to execute. Prices around $238K and rents of $1,224/mo solid owner-occupant economics.
What is the rental occupancy rate in Gardner, IL?
Gardner, IL vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
You know 60424 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 60424 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
AI Market Advisor
Ask questions about investing in 60424 (Gardner)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 60424 (Gardner, IL).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.