Real Estate Investing in Belvidere, Illinois (61008)
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Should you buy in 61008 (Belvidere, IL)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Belvidere, IL (61008)?
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Market Analysis: 61008 Belvidere
The 61008 ZIP in Belvidere, IL is a local-operator market. Outside capital chasing a $268K entry has to pair deep knowledge with the discount.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $268K asset, 61008 is the wrong submarket. If the plan prices in friction, the yield can still work.
Regionally, 61008 sits on the difficult end of the IL spectrum. The worth a close look for read — for disciplined operators — is that pricing reflects the difficulty.
Stepping back, 33,697 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategy in 61008 is an operator game, not a passive one. Meanwhile, entry prices of $268K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Belvidere:
Property Strategy for 61008
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $166,674 | $1,180 | 5.1% | +9.7% | $83,337 |
| 3BR | $239,709 | $1,560 | 4.7% | +9.0% | $79,903 |
| 4BR | $322,919 | $1,600 | 3.6% | +8.4% | $80,730 |
| 5BR | $388,419 | — | — | +7.9% | $77,684 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 61008 Compare?
| Metric | 61008 | Belvidere | Rockford, IL | Illinois |
|---|---|---|---|---|
| Home Value | $267,975 | $267,975 | N/A | $279,761 |
| 5-Year CAGR | 7.7% | 7.7% | N/A | 6.6% |
| Avg Rent | $1,673 | $1,673 | N/A | - |
| Cap Rate | 4.9% | 4.9% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 61008 (Belvidere, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $267,975 |
| Monthly Rent | $1,673 |
| Price-to-Rent | 13.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.5% |
| Cap Rate | 4.9% |
| 5-Year IRR | 12.6% |
📈 Home Appreciation
| 1-Year | +9.0% ▲ |
| 3-Year CAGR | +7.9% ▲ |
| 5-Year CAGR | +7.7% ▲ |
| 10-Year CAGR | +7.6% ▲ |
🏠 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 (4.9%). 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 61008
Population: 33,697
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 61008
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.
🎓 Nearby Colleges & Universities
Investor Insight: With 3,649 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the average home sale price in Belvidere, IL?
Median home price in Belvidere, IL is near $268K, with a 5-year CAGR of 0.0%. Prices have been predictable and supportive of buy-and-hold strategies.
How qualified is the tenant pool in Belvidere, IL?
Tenant quality in Belvidere, IL ranks as solid. Landlords generally report reliable occupancy at market rents of $1,673/mo.
What are rental rates like in Belvidere, IL?
Rent in Belvidere, IL is around $1,673/mo. The resulting rent-to-value relationship with $268K pricing is reasonable for most investor models.
Does house hacking work in Belvidere, IL?
House hacking in Belvidere, IL is a challenging. With home values around $268K and rents at $1,673/mo, owner-occupants can offset a meaningful share of PITI.
Is Belvidere, IL good for landlords?
The landlord environment in Belvidere, IL is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
You know 61008 now. You don’t know where it ranks.
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How 61008 ranks in Rockford, IL
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