Real Estate Investing in Lansing, Illinois (60438)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60438 (Lansing, 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.
- Higher unemployment: 7.0% unemployment — tenant risk signal.
What’s happening in Lansing, IL (60438)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60438 Lansing
On balance, ZIP 60438 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $201K median. It rewards specialists, not generalists.
Rent of $1,665/mo on a $201K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 60438 sits below the stated 0.0% once reality is priced in.
Within IL, ZIP 60438 trails on several market indicators that neighboring Cook County submarkets outperform. The gap is real and sturdy enough to shape underwriting.
Stepping back, 28,802 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Experienced landlords with local relationships tend to find 60438 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 Lansing:
Property Strategy for 60438
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $78,161 | $1,390 | 12.8% | +9.5% | $78,161 |
| 2BR | $136,799 | $1,570 | 8.3% | +9.6% | $68,400 |
| 3BR | $201,748 | $2,020 | 7.2% | +8.5% | $67,249 |
| 4BR | $252,462 | $2,340 | 6.7% | +7.6% | $63,116 |
| 5BR | $277,170 | — | — | +7.2% | $55,434 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60438 Compare?
| Metric | 60438 | Lansing | Illinois |
|---|---|---|---|
| Home Value | $200,593 | $200,593 | $279,761 |
| 5-Year CAGR | 5.2% | 5.2% | 6.6% |
| Avg Rent | $1,665 | $1,665 | - |
| Cap Rate | 6.5% | 6.5% | - |
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 60438 (Lansing, 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 | $200,593 |
| Monthly Rent | $1,665 |
| Price-to-Rent | 10.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 10.0% |
| Cap Rate | 6.5% |
| 5-Year IRR | 11.7% |
📈 Home Appreciation
| 1-Year | +3.1% ▲ |
| 3-Year CAGR | +2.9% ▲ |
| 5-Year CAGR | +5.2% ▲ |
| 10-Year CAGR | +7.8% ▲ |
🏠 Rent Trends
| 1-Year | +3.2% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) is close to the estimated cap rate (6.5%). Financing this market at current rates produces a cash-on-cash return near the cap rate. Appreciation and tax benefits may still support the investment.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 60438
Population: 28,802
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 60438
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Kenwood Elementary School
Frank O'Bannon Elementary School
Thomas Jefferson Elementary School
Wolcott School
Annie Burns-Hicks 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
Investor Insight: With 937 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Do rentals sit vacant long in Lansing, IL?
Vacancy in Lansing, IL is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,665/mo.
How much should I expect to pay for a home in Lansing, IL?
Median home price in Lansing, IL is near $201K, with a 5-year CAGR of 0.0%. Prices have been steady and supportive of buy-and-hold strategies.
Where do rents currently stand in Lansing, IL?
Rents in Lansing, IL run near $1,665/mo. Compared with median home prices of $201K that produces solid gross yields for typical rentals.
Is Lansing, IL landlord-friendly?
Rental owners in Lansing, IL deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
Does Lansing, IL make sense for an investment property?
Our data puts Lansing, IL at 3.0/5 for investability. Home prices of $201K and rents around $1,665/mo create a solid backdrop for investor activity.
You know 60438 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 60438 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.
How 60438 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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