Real Estate Investing in Onarga, Illinois (60955)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60955 (Onarga, IL)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 13.9% 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 Onarga, IL (60955)?
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Market Analysis: 60955 Onarga
Investors eyeing 60955 need to respect the fundamentals at play. Home values of $154K come alongside slower price movement and elevated management overhead.
Rent of $828/mo on a $154K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 60955 sits below the stated 0.0% once reality is priced in.
Nearby ZIPs in Onarga have seen price recovery that 60955 has not matched. Iroquois County data supports the view that the spread is structural rather than temporary.
Resident income in 60955 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The right play in 60955 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Onarga:
Market Trends
Home Value History (with trend line)
📊 How Does 60955 Compare?
| Metric | 60955 | Onarga | Illinois |
|---|---|---|---|
| Home Value | $153,720 | $153,720 | $279,761 |
| 5-Year CAGR | 2.3% | 2.3% | 6.6% |
| Avg Rent | $828 | $828 | - |
| Cap Rate | 4.2% | 4.2% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 60955 (Onarga, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $153,720 |
| Monthly Rent | $828 |
| Price-to-Rent | 15.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.5% |
| Cap Rate | 4.2% |
| 5-Year IRR | 6.5% |
📈 Home Appreciation
| 1-Year | +5.4% ▲ |
| 3-Year CAGR | +4.3% ▲ |
| 5-Year CAGR | +2.3% ▲ |
| 10-Year CAGR | +3.9% ▲ |
🏠 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 (4.2%). 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 60955
Population: 1,981
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 60955
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
What does house hacking look like in Onarga, IL?
The a challenging house-hack environment in Onarga, IL reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
How do landlord-tenant laws work in Onarga, IL?
IL ranks as a landlord-friendly state for landlord-tenant law. Onarga generally follows the statewide framework, so landlords face reasonable operating rules.
Is the tenant base reliable in Onarga, IL?
Tenant demand in Onarga, IL is solid. The local workforce $828/mo rents across most rental classes.
How much do tenants pay in Onarga, IL?
Expect rents around $828/mo per month in Onarga, IL. With home values at $154K, the yield math works out to reasonable levels for rental investors.
Is Onarga, IL a good place for real estate investing?
Onarga, IL posts an investability rating of 3.0/5, with median home values near $154K and average rents around $828/mo. That combination puts it in the impressive tier for investor interest.
You know 60955 now. You don’t know where it ranks.
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