Real Estate Investing in Rankin, Illinois (60960)
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Should you buy in 60960 (Rankin, IL)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
Rare combination of both appreciation and cash flow. These markets don't last long — worth serious consideration.
- High vacancy: 15.5% of homes vacant — above national norms.
- Elevated poverty: 26.0% poverty rate — can affect rent collection.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Rankin, IL (60960)?
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Market Analysis: 60960 Rankin
ZIP 60960 in Rankin, IL carries a notable set of headwinds. Home values near $113K and rents of $882/mo sit inside a market where underwriting has to be tight.
The 60960 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Regionally, 60960 sits on the difficult end of the IL spectrum. The a strong candidate for read — for disciplined operators — is that pricing reflects the difficulty.
The demographic picture in 60960 includes headwinds that any investor should price in. Income distribution skews lower than Rankin averages, and tenant stability requires active management.
Distressed ZIPs reward experience. durable returns are possible in 60960, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Rankin:
Market Trends
Home Value History (with trend line)
📊 How Does 60960 Compare?
| Metric | 60960 | Rankin | Danville, IL | Illinois |
|---|---|---|---|---|
| Home Value | $112,828 | $112,828 | N/A | $279,761 |
| 5-Year CAGR | 8.3% | 8.3% | N/A | 6.6% |
| Avg Rent | $882 | $882 | N/A | - |
| Cap Rate | 6.1% | 6.1% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 60960 (Rankin, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $112,828 |
| Monthly Rent | $882 |
| Price-to-Rent | 10.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.4% |
| Cap Rate | 6.1% |
| 5-Year IRR | 14.4% |
📈 Home Appreciation
| 1-Year | +25.1% ▲ |
| 3-Year CAGR | +9.8% ▲ |
| 5-Year CAGR | +8.3% ▲ |
| 10-Year CAGR | +5.3% ▲ |
🏠 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 (6.1%). 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 60960
Population: 890
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
Frequently Asked Questions
What is the average monthly rent in Rankin, IL?
Rental rates in Rankin, IL average $882/mo. Tenant demand and $113K home values make the yield look reasonable by investor standards.
What approach is best for Rankin, IL real estate?
Most investors in Rankin, IL run a careful cash-flow rentals with hands-on management strategy. It aligns with the 4.0/5 investability profile and the market fundamentals.
How does Rankin, IL stack up for property investment?
Rankin, IL rates 4.0/5 for investability. With median values at $113K and rents near $882/mo, the market offers reasonable fundamentals for rental investors.
How tight is the rental market in Rankin, IL?
Rankin, IL vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
How viable is house hacking in Rankin, IL?
House hacking in Rankin, IL is reasonable to execute. Prices around $113K and rents of $882/mo solid owner-occupant economics.
You know 60960 now. You don’t know where it ranks.
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