Real Estate Investing in Gilman, Illinois (60938)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60938 (Gilman, 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 cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 18.9% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Gilman, IL (60938)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60938 Gilman
Not every below-median market is a bargain. Gilman's 60938 ZIP records signals that favor experienced operators who can absorb the risk $135K pricing implies.
For an experienced owner, 60938 can be a worth a close look for hunting ground — but the discount at $135K reflects genuine risk that outside investors often underestimate.
ZIP 60938's metrics run below Iroquois County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
A durable renter share of 19% in 60938 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The 60938 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 Gilman:
Market Trends
Home Value History (with trend line)
📊 How Does 60938 Compare?
| Metric | 60938 | Gilman | Illinois |
|---|---|---|---|
| Home Value | $134,549 | $134,549 | $279,761 |
| 5-Year CAGR | 4.5% | 4.5% | 6.6% |
| Avg Rent | $828 | $828 | - |
| Cap Rate | 4.8% | 4.8% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 60938 (Gilman, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $134,549 |
| Monthly Rent | $828 |
| Price-to-Rent | 13.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.4% |
| Cap Rate | 4.8% |
| 5-Year IRR | 9.3% |
📈 Home Appreciation
| 1-Year | +2.1% ▲ |
| 3-Year CAGR | +4.9% ▲ |
| 5-Year CAGR | +4.5% ▲ |
| 10-Year CAGR | +4.4% ▲ |
🏠 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 (4.8%). 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 60938
Population: 1,973
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 60938
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
Is housing expensive in Gilman, IL?
Gilman, IL home values average about $135K. That price point suits investors targeting rentals with $828/mo in monthly income.
Does Gilman, IL favor landlords or tenants?
Rental owners in Gilman, IL deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
Are rents high in Gilman, IL?
Gilman, IL rentals go for roughly $828/mo a month. That puts gross yield in solid territory relative to $135K acquisition costs.
What real estate strategy is ideal for Gilman, IL?
Gilman, IL investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($135K prices, $828/mo rents) make it a reasonable choice.
What is the tenant pool like in Gilman, IL?
Expect a solid tenant pool in Gilman, IL. The rental market absorbs $828/mo rents without meaningful friction.
You know 60938 now. You don’t know where it ranks.
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