Real Estate Investing in Chebanse, Illinois (60922)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60922 (Chebanse, 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.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Chebanse, IL (60922)?
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Market Analysis: 60922 Chebanse
The 60922 ZIP in Chebanse, IL is a local-operator market. Outside capital chasing a $223K entry has to pair deep knowledge with the discount.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $223K asset, 60922 is the wrong submarket. If the plan prices in friction, the yield can still work.
Within IL, ZIP 60922 trails on several market indicators that neighboring Kankakee submarkets outperform. The gap is real and impressive enough to shape underwriting.
A resilient renter share of 30% in 60922 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The 60922 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Chebanse:
Market Trends
Home Value History (with trend line)
📊 How Does 60922 Compare?
| Metric | 60922 | Chebanse | Illinois |
|---|---|---|---|
| Home Value | $223,332 | $223,332 | $279,761 |
| 5-Year CAGR | 6.0% | 6.0% | 6.6% |
| Avg Rent | $1,089 | $1,089 | - |
| Cap Rate | 3.8% | 3.8% | - |
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 60922 (Chebanse, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $223,332 |
| Monthly Rent | $1,089 |
| Price-to-Rent | 17.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.9% |
| Cap Rate | 3.8% |
| 5-Year IRR | 9.8% |
📈 Home Appreciation
| 1-Year | +7.8% ▲ |
| 3-Year CAGR | +5.9% ▲ |
| 5-Year CAGR | +6.0% ▲ |
| 10-Year CAGR | +5.7% ▲ |
🏠 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 (3.8%). 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 60922
Population: 2,443
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 60922
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.
🎓 Nearby Colleges & Universities
Investor Insight: With 605 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What type of investing works in Chebanse, IL?
A careful cash-flow rentals with hands-on management strategy Chebanse, IL best. The market produces even-keeled results for that approach at the $223K price point.
How deep is the rental pool in Chebanse, IL?
The tenant pool in Chebanse, IL is solid, supported by local employment and population fundamentals. Rents of $1,089/mo are well-absorbed by the market.
Are rents high in Chebanse, IL?
Chebanse, IL rentals go for roughly $1,089/mo a month. That puts gross yield in solid territory relative to $223K acquisition costs.
What is the typical vacancy rate in Chebanse, IL?
Occupancy in Chebanse, IL runs steady with elevated vacancy. Well-priced units at $1,089/mo lease on reasonable timelines.
What is the typical home price in Chebanse, IL?
In Chebanse, IL the median home value sits at $223K. Against the broader IL market, that reads as reasonable for most investors.
You know 60922 now. You don’t know where it ranks.
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