Real Estate Investing in Morton, Illinois (61550)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 61550 (Morton, 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.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Morton, IL (61550)?
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Market Analysis: 61550 Morton
The 61550 ZIP in Morton, IL is a local-operator market. Outside capital chasing a $292K entry has to pair deep knowledge with the discount.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $292K asset, 61550 is the wrong submarket. If the plan prices in friction, the yield can still work.
On the rental side, 61550 offers a low basis, the region around Morton has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Employment concentration in 61550 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Experienced landlords with local relationships tend to find 61550 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Morton:
Property Strategy for 61550
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $182,569 | $1,140 | 4.5% | +7.3% | $91,284 |
| 3BR | $248,643 | $1,480 | 4.3% | +7.2% | $82,881 |
| 4BR | $353,166 | $1,590 | 3.2% | +6.0% | $88,291 |
| 5BR | $456,059 | — | — | +5.9% | $91,212 |
Market Trends
Home Value History (with trend line)
📊 How Does 61550 Compare?
| Metric | 61550 | Morton | Peoria, IL | Illinois |
|---|---|---|---|---|
| Home Value | $291,605 | $291,605 | N/A | $279,761 |
| 5-Year CAGR | 6.3% | 6.3% | N/A | 6.6% |
| Avg Rent | $1,026 | $1,026 | N/A | - |
| Cap Rate | 2.7% | 2.7% | - | - |
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 61550 (Morton, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $291,605 |
| Monthly Rent | $1,026 |
| Price-to-Rent | 23.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.7% |
| 5-Year IRR | 9.1% |
📈 Home Appreciation
| 1-Year | +9.0% ▲ |
| 3-Year CAGR | +7.1% ▲ |
| 5-Year CAGR | +6.3% ▲ |
| 10-Year CAGR | +4.3% ▲ |
🏠 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 (2.7%). 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 61550
Population: 18,688
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 61550
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 4,842 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Morton, IL better for rentals, flips, or BRRRR?
In Morton, IL the impressive play is typically careful cash-flow rentals with hands-on management. The combination of $292K prices and $1,026/mo rents suits that approach.
Is Morton, IL a good market for FHA house hackers?
House hacking works a challenging in Morton, IL. Rents of $1,026/mo against $292K acquisition make the strategy solid for owner-occupants.
Where do home prices stand in Morton, IL?
The median home value in Morton, IL is roughly $292K. That puts it reasonable relative to the IL statewide average.
Is Morton, IL good for landlords?
IL ranks as a landlord-friendly state for landlord-tenant law. Morton generally follows the statewide framework, so landlords face reasonable operating rules.
What is the renter demographic in Morton, IL?
Morton, IL draws a even-keeled base of working renters. Demand at the $1,026/mo rent level is reasonable for standard single-family and small multi rentals.
You know 61550 now. You don’t know where it ranks.
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How 61550 ranks in Peoria, IL
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