Real Estate Investing in Chicago, Illinois (60631)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60631 (Chicago, IL)? Our answer, based on the numbers below.
Solid choice — stable market with a reasonable entry point and good rental backup if you ever need to move.
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 Chicago, IL (60631)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60631 Chicago
ZIP 60631 inside Cook County looks affordable on the surface — median value of $469K — 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 $469K asset, 60631 is the wrong submarket. If the plan prices in friction, the yield can still work.
Regionally, 60631 sits on the difficult end of the IL spectrum. The a credible choice for read — for disciplined operators — is that pricing reflects the difficulty.
A solid renter share of 26% in 60631 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 60631 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 Chicago:
Property Strategy for 60631
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $179,969 | $1,670 | 6.7% | +6.8% | $179,969 |
| 2BR | $325,030 | $1,880 | 4.2% | +5.8% | $162,515 |
| 3BR | $435,657 | $2,420 | 4.0% | +5.0% | $145,219 |
| 4BR | $550,434 | $2,800 | 3.7% | +4.6% | $137,609 |
| 5BR | $690,059 | — | — | +4.2% | $138,012 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60631 Compare?
| Metric | 60631 | Chicago | Illinois |
|---|---|---|---|
| Home Value | $469,236 | $345,093 | $279,761 |
| 5-Year CAGR | 5.0% | 2.6% | 6.6% |
| Avg Rent | $1,944 | $2,056 | - |
| Cap Rate | 3.2% | 5.1% | - |
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 60631 (Chicago, 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 | $469,236 |
| Monthly Rent | $1,944 |
| Price-to-Rent | 20.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.0% |
| Cap Rate | 3.2% |
| 5-Year IRR | 8.2% |
📈 Home Appreciation
| 1-Year | +11.5% ▲ |
| 3-Year CAGR | +7.2% ▲ |
| 5-Year CAGR | +5.0% ▲ |
| 10-Year CAGR | +4.4% ▲ |
🏠 Rent Trends
| 1-Year | +12.6% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.2%). 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 60631
Population: 30,308
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 60631
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Clarence E Culver School
Franklin Elementary School
George B Carpenter Elem School
Beard Elem School
Emerson Middle 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 1,316 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Does Chicago, IL make sense for an investment property?
The 3.0/5 investability rating in Chicago, IL reflects its $469K prices and $1,944/mo rents. Investors generally consider it a solid option within IL.
What investment strategy works best in Chicago, IL?
In Chicago, IL the healthy play is typically careful cash-flow rentals with hands-on management. The combination of $469K prices and $1,944/mo rents suits that approach.
What are rental rates like in Chicago, IL?
Average rent in Chicago, IL is approximately $1,944/mo per month. Against $469K home values that yields a reasonable rent-to-price ratio.
Should investors worry about vacancy in Chicago, IL?
Chicago, IL sees elevated vacancy, which is reasonable relative to the broader IL rental market.
Is Chicago, IL suited for a house hack?
For house hackers, Chicago, IL is a challenging. The $1,944/mo rent on a unit helps defray the mortgage on a $469K property.
You know 60631 now. You don’t know where it ranks.
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How 60631 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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