Real Estate Investing in Franklin Grove, Illinois (61031)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 61031 (Franklin Grove, 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.
No major risk flags on the data we track.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Franklin Grove, IL (61031)?
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Market Analysis: 61031 Franklin Grove
Looking more closely, ZIP 61031 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $201K median. It rewards specialists, not generalists.
On the rental side, the numbers look inviting — $201K purchase price, 0.0% nominal cap — the work to hit that pro forma in 61031 is substantial and deserves full respect.
ZIP 61031's metrics run below Lee County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Demographically, 61031 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
leans 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 Franklin Grove:
Market Trends
Home Value History (with trend line)
📊 How Does 61031 Compare?
| Metric | 61031 | Franklin Grove | Dixon, IL | Illinois |
|---|---|---|---|---|
| Home Value | $201,034 | $201,034 | N/A | $279,761 |
| 5-Year CAGR | 8.0% | 8.0% | N/A | 6.6% |
| Avg Rent | $828 | $828 | N/A | - |
| Cap Rate | 3.2% | 3.2% | - | - |
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 61031 (Franklin Grove, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $201,034 |
| Monthly Rent | $828 |
| Price-to-Rent | 20.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.9% |
| Cap Rate | 3.2% |
| 5-Year IRR | 11.2% |
📈 Home Appreciation
| 1-Year | +18.9% ▲ |
| 3-Year CAGR | +11.4% ▲ |
| 5-Year CAGR | +8.0% ▲ |
| 10-Year CAGR | +11.3% ▲ |
🏠 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 (3.2%). 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 61031
Population: 1,615
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 61031
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
What monthly rent should investors expect in Franklin Grove, IL?
Average rent in Franklin Grove, IL is approximately $828/mo per month. Against $201K home values that yields a reasonable rent-to-price ratio.
How quickly do rentals get leased in Franklin Grove, IL?
Vacancy risk in Franklin Grove, IL is elevated. That supports stable cash flow for typical rental holds.
What is the best play in Franklin Grove, IL?
For Franklin Grove, IL, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
What is it like being a landlord in Franklin Grove, IL?
IL law landlord-friendly for landlords, and Franklin Grove inherits those rules. Investors should still review local ordinances for rental licensing.
How expensive is real estate in Franklin Grove, IL?
Median home price in Franklin Grove, IL is near $201K, with a 5-year CAGR of 0.0%. Prices have been reliable and supportive of buy-and-hold strategies.
You know 61031 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 61031 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 61031 ranks in Dixon, IL
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