Real Estate Investing in Reddick, Illinois (60961)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60961 (Reddick, IL)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 17.5% of homes vacant — above national norms.
- Higher unemployment: 10.1% unemployment — tenant risk signal.
• 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 Reddick, IL (60961)?
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Market Analysis: 60961 Reddick
From a cash-flow lens, ZIP 60961 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $263K median. It rewards specialists, not generalists.
In practical terms, the numbers look inviting — $263K purchase price, 0.0% nominal cap — the work to hit that pro forma in 60961 is substantial and deserves full respect.
Regionally, 60961 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 60961 ZIP's population of 928 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that sits at the need for careful underwriting.
Experienced landlords with local relationships tend to find 60961 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Reddick:
Market Trends
Home Value History (with trend line)
📊 How Does 60961 Compare?
| Metric | 60961 | Reddick | Kankakee, IL | Illinois |
|---|---|---|---|---|
| Home Value | $262,554 | $262,554 | N/A | $279,761 |
| 5-Year CAGR | 6.1% | 6.1% | N/A | 6.6% |
| Avg Rent | $1,404 | $1,404 | N/A | - |
| 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 60961 (Reddick, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $262,554 |
| Monthly Rent | $1,404 |
| Price-to-Rent | 15.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.4% |
| Cap Rate | 4.2% |
| 5-Year IRR | 10.2% |
📈 Home Appreciation
| 1-Year | +12.9% ▲ |
| 3-Year CAGR | +6.3% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +4.9% ▲ |
🏠 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 60961
Population: 928
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
Is Reddick, IL a smart market for rental property?
With a 3.0/5 investability score, Reddick, IL ranks as a solid market for rental property investors. Median prices of $263K and rents of $1,404/mo drive the underlying numbers.
What price range are homes in Reddick, IL?
Median home price in Reddick, IL is near $263K, with a 5-year CAGR of 0.0%. Prices have been stable and supportive of buy-and-hold strategies.
Are rents high in Reddick, IL?
Rents in Reddick, IL run near $1,404/mo. Compared with median home prices of $263K that produces solid gross yields for typical rentals.
What is the rental occupancy rate in Reddick, IL?
Occupancy in Reddick, IL runs steady with elevated vacancy. Well-priced units at $1,404/mo lease on reasonable timelines.
What is the best play in Reddick, IL?
For Reddick, IL, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
You know 60961 now. You don’t know where it ranks.
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How 60961 ranks in Kankakee, IL
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