Real Estate Investing in Harwood Heights, Illinois (60706)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60706 (Harwood Heights, IL)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
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 Harwood Heights, IL (60706)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60706 Harwood Heights
Not every below-median market is a bargain. Harwood Heights's 60706 ZIP shows signals that favor experienced operators who can absorb the risk $414K pricing implies.
Rent of $1,983/mo on a $414K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 60706 sits below the stated 0.0% once reality is priced in.
The gap between 60706 and stronger Harwood Heights ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Demographically, 60706 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Strategy in 60706 is an operator game, not a passive one. Meanwhile, entry prices of $414K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Harwood Heights:
Property Strategy for 60706
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $185,271 | $1,400 | 5.4% | +6.3% | $185,271 |
| 2BR | $314,982 | $1,580 | 3.6% | +6.8% | $157,491 |
| 3BR | $387,581 | $2,030 | 3.8% | +6.5% | $129,194 |
| 4BR | $470,599 | $2,350 | 3.6% | +5.8% | $117,650 |
| 5BR | $597,928 | — | — | +6.2% | $119,586 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60706 Compare?
| Metric | 60706 | Harwood Heights | Illinois |
|---|---|---|---|
| Home Value | $413,725 | $413,725 | $279,761 |
| 5-Year CAGR | 6.0% | 6.0% | 6.6% |
| Avg Rent | $1,983 | $1,983 | - |
| Cap Rate | 3.7% | 3.7% | - |
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 60706 (Harwood Heights, 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 | $413,725 |
| Monthly Rent | $1,983 |
| Price-to-Rent | 17.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.8% |
| Cap Rate | 3.7% |
| 5-Year IRR | 9.7% |
📈 Home Appreciation
| 1-Year | +9.7% ▲ |
| 3-Year CAGR | +6.9% ▲ |
| 5-Year CAGR | +6.0% ▲ |
| 10-Year CAGR | +5.1% ▲ |
🏠 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 (3.7%). 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 60706
Population: 24,028
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 60706
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Chicago Academy High School
Edison Park Elem School
John F Kennedy Elem School
Rhodes Elem School
Sayre Elem Language Academy
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 4,029 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the typical home price in Harwood Heights, IL?
In Harwood Heights, IL the median home value sits at $414K. Against the broader IL market, that reads as reasonable for most investors.
What is it like being a landlord in Harwood Heights, IL?
IL ranks as a landlord-friendly state for landlord-tenant law. Harwood Heights generally follows the statewide framework, so landlords face reasonable operating rules.
How strong are rents in Harwood Heights, IL?
The typical rental in Harwood Heights, IL commands about $1,983/mo monthly. That rent profile measured cash flow against the $414K purchase basis.
What real estate strategy is ideal for Harwood Heights, IL?
Harwood Heights, IL investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($414K prices, $1,983/mo rents) make it a reasonable choice.
Is the tenant base reliable in Harwood Heights, IL?
Tenant demand in Harwood Heights, IL is solid. The local workforce $1,983/mo rents across most rental classes.
You know 60706 now. You don’t know where it ranks.
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How 60706 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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