Real Estate Investing in Rockford, Illinois (61104)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 61104 (Rockford, IL)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
Rare combination of both appreciation and cash flow. These markets don't last long — worth serious consideration.
- High vacancy: 14.8% of homes vacant — above national norms.
- Elevated poverty: 36.4% poverty rate — can affect rent collection.
- Higher unemployment: 8.7% unemployment — tenant risk signal.
- Lower household income: $29,594 median — tenant affordability is tighter.
What’s happening in Rockford, IL (61104)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 61104 Rockford
The 61104 ZIP covers a section of Rockford that demands careful diligence. Prices near $115K look accessible, but the work to make a deal cash flow is real.
From an investor standpoint, the numbers look inviting — $115K purchase price, 0.0% nominal cap — the work to hit that pro forma in 61104 is substantial and deserves full respect.
Turning to rents, 61104 offers a low basis, the region around Rockford has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Meanwhile, 17,584 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.
Strategically, 61104 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Rockford:
Property Strategy for 61104
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $89,730 | $1,070 | 8.6% | +15.9% | $44,865 |
| 3BR | $101,176 | $1,410 | 10.0% | +13.6% | $33,725 |
| 4BR | $106,758 | $1,450 | 9.8% | +12.6% | $26,689 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 61104 Compare?
| Metric | 61104 | Rockford | Rockford, IL | Illinois |
|---|---|---|---|---|
| Home Value | $114,812 | $87,812 | N/A | $279,761 |
| 5-Year CAGR | 13.5% | 10.9% | N/A | 6.6% |
| Avg Rent | $1,088 | $1,360 | N/A | - |
| Cap Rate | 7.4% | 6.4% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 61104 (Rockford, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $114,812 |
| Monthly Rent | $1,088 |
| Price-to-Rent | 8.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 11.4% |
| Cap Rate | 7.4% |
| 5-Year IRR | 20.9% |
📈 Home Appreciation
| 1-Year | +21.2% ▲ |
| 3-Year CAGR | +16.5% ▲ |
| 5-Year CAGR | +13.5% ▲ |
| 10-Year CAGR | +14.0% ▲ |
🏠 Rent Trends
| 1-Year | -2.3% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) is close to the estimated cap rate (7.4%). Financing this market at current rates produces a cash-on-cash return near the cap rate. Appreciation and tax benefits may still support the investment.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 61104
Population: 17,584
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 61104
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
Is Rockford, IL a smart market for rental property?
The 4.0/5 investability rating in Rockford, IL reflects its $115K prices and $1,088/mo rents. Investors generally consider it a solid option within IL.
What is the rental occupancy rate in Rockford, IL?
Occupancy in Rockford, IL runs even-keeled with elevated vacancy. Well-priced units at $1,088/mo lease on reasonable timelines.
How much is rent in Rockford, IL?
Rockford, IL rentals go for roughly $1,088/mo a month. That puts gross yield in solid territory relative to $115K acquisition costs.
Is Rockford, IL a good market for FHA house hackers?
Rockford, IL is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $115K price point reasonable to enter.
What is the smart move for investors in Rockford, IL?
In Rockford, IL the solid play is typically careful cash-flow rentals with hands-on management. The combination of $115K prices and $1,088/mo rents suits that approach.
You know 61104 now. You don’t know where it ranks.
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How 61104 ranks in Rockford, IL
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