Real Estate Investing in Benson, Illinois (61516)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 61516 (Benson, 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.
No major risk flags on the data we track.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Benson, IL (61516)?
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Market Analysis: 61516 Benson
This part of Woodford County is not an easy win. The 61516 ZIP records softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The investment case in 61516 is solid only for operators who understand what they are buying. A $167K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Nearby ZIPs in Benson have seen price recovery that 61516 has not matched. Woodford County data supports the view that the spread is structural rather than temporary.
On balance, 816 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.
New investors are better served looking at Benson's stable or hybrid ZIPs before stepping into 61516. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Benson:
Market Trends
Home Value History (with trend line)
📊 How Does 61516 Compare?
| Metric | 61516 | Benson | Peoria, IL | Illinois |
|---|---|---|---|---|
| Home Value | $167,274 | $167,274 | N/A | $279,761 |
| 5-Year CAGR | 4.0% | 4.0% | N/A | 6.6% |
| Avg Rent | $954 | $954 | N/A | - |
| Cap Rate | 4.5% | 4.5% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 61516 (Benson, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $167,274 |
| Monthly Rent | $954 |
| Price-to-Rent | 14.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.8% |
| Cap Rate | 4.5% |
| 5-Year IRR | 8.5% |
📈 Home Appreciation
| 1-Year | +7.9% ▲ |
| 3-Year CAGR | +5.0% ▲ |
| 5-Year CAGR | +4.0% ▲ |
| 10-Year CAGR | N/A |
🏠 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 (4.5%). 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 61516
Population: 816
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 61516
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
Are renters plentiful in Benson, IL?
Benson, IL draws a consistent base of working renters. Demand at the $954/mo rent level is reasonable for standard single-family and small multi rentals.
How strict are landlord regulations in Benson, IL?
Rental owners in Benson, IL deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
How much should I expect to pay for a home in Benson, IL?
Typical homes in Benson, IL go for around $167K. The 5-year CAGR of 0.0% reliable price movement.
What are vacancy rates like in Benson, IL?
Benson, IL sees elevated vacancy, which is reasonable relative to the broader IL rental market.
How much rent can I charge in Benson, IL?
Rents in Benson, IL run near $954/mo. Compared with median home prices of $167K that produces solid gross yields for typical rentals.
You know 61516 now. You don’t know where it ranks.
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How 61516 ranks in Peoria, IL
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