Real Estate Investing in Freeport, Illinois (61032)
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Should you buy in 61032 (Freeport, IL)? Our answer, based on the numbers below.
Strong fundamentals — affordable, appreciating, and stable. A confident pick for primary residence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 8.6% vacancy may signal weakening demand.
What’s happening in Freeport, IL (61032)?
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Market Analysis: 61032 Freeport
Not every below-median market is a bargain. Freeport's 61032 ZIP comes in at signals that favor experienced operators who can absorb the risk $130K pricing implies.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $130K asset, 61032 is the wrong submarket. If the plan prices in friction, the yield can still work.
Regionally, 61032 sits on the difficult end of the IL spectrum. The a solid fit for read — for disciplined operators — is that pricing reflects the difficulty.
Resident income in 61032 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
looks to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Freeport:
Property Strategy for 61032
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $106,053 | $920 | 6.2% | +10.3% | $53,026 |
| 3BR | $160,121 | $1,130 | 5.1% | +9.9% | $53,374 |
| 4BR | $206,361 | $1,350 | 4.7% | +9.3% | $51,590 |
| 5BR | $245,394 | — | — | — | $49,079 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 61032 Compare?
| Metric | 61032 | Freeport | Freeport, IL | Illinois |
|---|---|---|---|---|
| Home Value | $129,770 | $129,770 | N/A | $279,761 |
| 5-Year CAGR | 7.8% | 7.8% | N/A | 6.6% |
| Avg Rent | $970 | $970 | N/A | - |
| Cap Rate | 5.8% | 5.8% | - | - |
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 61032 (Freeport, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $129,770 |
| Monthly Rent | $970 |
| Price-to-Rent | 11.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.0% |
| Cap Rate | 5.8% |
| 5-Year IRR | 13.6% |
📈 Home Appreciation
| 1-Year | +10.3% ▲ |
| 3-Year CAGR | +8.8% ▲ |
| 5-Year CAGR | +7.8% ▲ |
| 10-Year CAGR | +7.5% ▲ |
🏠 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 (5.8%). 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 61032
Population: 29,072
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 61032
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
Frequently Asked Questions
Is Freeport in IL worth investing in?
Freeport, IL rates 3.0/5 for investability. With median values at $130K and rents near $970/mo, the market offers reasonable fundamentals for rental investors.
What is the rental occupancy rate in Freeport, IL?
Expect elevated vacancy in Freeport, IL. Rents at $970/mo are absorbed by the tenant base without meaningful lag.
How much rent can I charge in Freeport, IL?
Rental rates in Freeport, IL average $970/mo. Tenant demand and $130K home values make the yield look reasonable by investor standards.
Does house hacking work in Freeport, IL?
The a challenging house-hack environment in Freeport, IL reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
Are landlord laws favorable in Freeport, IL?
For rental operators, Freeport, IL rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
You know 61032 now. You don’t know where it ranks.
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How 61032 ranks in Freeport, IL
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