Real Estate Investing in Hoopeston, Illinois (60942)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60942 (Hoopeston, 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: 16.8% 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 Hoopeston, IL (60942)?
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Market Analysis: 60942 Hoopeston
Investors scanning Hoopeston, IL for forced-equity plays often land on the 60942 ZIP. A a solid fit for entry near $89K pairs with rents of $909/mo to widen the renovation window.
In 60942, the deal is made on the buy and on the capex. sturdy entry prices of $89K leave room in the budget for light-to-medium renovation, with rent lift to match.
Comparing Hoopeston submarkets, ZIP 60942 offers an entry cost that most surrounding neighborhoods have moved past. The sturdy delta is the opportunity.
The 60942 ZIP's demographic trend has been one of stability with upside — population of 5,635, steady renter share, and an incoming cohort that is willing to pay for improved units.
ZIP 60942 fits investors who can swing a hammer — or pay someone to swing one well. BRRRR, fix-and-flip, and fix-and-hold all work when the rehab scope is matched to the rent lift.
Here's what matters if you're considering buying a home in Hoopeston:
Market Trends
Home Value History (with trend line)
📊 How Does 60942 Compare?
| Metric | 60942 | Hoopeston | Danville, IL | Illinois |
|---|---|---|---|---|
| Home Value | $88,928 | $88,928 | N/A | $279,761 |
| 5-Year CAGR | 4.9% | 4.9% | N/A | 6.6% |
| Avg Rent | $909 | $909 | N/A | - |
| Cap Rate | 8.0% | 8.0% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 60942 (Hoopeston, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $88,928 |
| Monthly Rent | $909 |
| Price-to-Rent | 8.2:1 |
| 1% Rule | ✓ Passes |
💰 Return Metrics
| Gross Yield | 12.3% |
| Cap Rate | 8.0% |
| 5-Year IRR | 12.9% |
📈 Home Appreciation
| 1-Year | +16.1% ▲ |
| 3-Year CAGR | +1.7% ▲ |
| 5-Year CAGR | +4.9% ▲ |
| 10-Year CAGR | +3.3% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The estimated cap rate (8.0%) exceeds the current 30-yr mortgage rate (6.8%). When borrowing costs less than a property yields, leverage can increase your cash-on-cash return above the cap rate.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 60942
Population: 5,635
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 60942
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 is the average monthly rent in Hoopeston, IL?
Rental rates in Hoopeston, IL average $909/mo. Tenant demand and $89K home values make the yield look reasonable by investor standards.
What strategy should investors use in Hoopeston, IL?
For Hoopeston, IL, value-add and BRRRR deals is the standard investor playbook. The market structure makes it a reasonable default approach.
Is housing expensive in Hoopeston, IL?
Homes in Hoopeston, IL typically sell near $89K. Prices have moved at a 0.0% 5-year CAGR, which measured long-term demand.
What does house hacking look like in Hoopeston, IL?
Hoopeston, IL offers an attractive house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $909/mo rent level.
Does rental property in Hoopeston, IL pass the 1% rule?
The 1% rule in Hoopeston, IL is reasonable to achieve. Rent-to-price at the median ($909/mo on $89K) lands around 1.02%.
You know 60942 now. You don’t know where it ranks.
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How 60942 ranks in Danville, IL
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