Real Estate Investing in Hopedale, Illinois (61747)
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Should you buy in 61747 (Hopedale, 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 Hopedale, IL (61747)?
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Market Analysis: 61747 Hopedale
This part of Tazewell County is not an easy win. The 61747 ZIP shows softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The 61747 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Statewide comparisons place 61747 among IL's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 61747 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.
New investors are better served looking at Hopedale's stable or hybrid ZIPs before stepping into 61747. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Hopedale:
Market Trends
Home Value History (with trend line)
📊 How Does 61747 Compare?
| Metric | 61747 | Hopedale | Peoria, IL | Illinois |
|---|---|---|---|---|
| Home Value | $200,267 | $200,267 | N/A | $279,761 |
| 5-Year CAGR | 7.2% | 7.2% | N/A | 6.6% |
| Avg Rent | $900 | $900 | N/A | - |
| Cap Rate | 3.5% | 3.5% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 61747 (Hopedale, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $200,267 |
| Monthly Rent | $900 |
| Price-to-Rent | 18.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.4% |
| Cap Rate | 3.5% |
| 5-Year IRR | 10.7% |
📈 Home Appreciation
| 1-Year | +10.7% ▲ |
| 3-Year CAGR | +8.7% ▲ |
| 5-Year CAGR | +7.2% ▲ |
| 10-Year CAGR | +5.2% ▲ |
🏠 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 (3.5%). 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 61747
Population: 1,504
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
Frequently Asked Questions
Is Hopedale, IL a good place for real estate investing?
Hopedale, IL clocks in at an investability rating of 3.0/5, with median home values near $200K and average rents around $900/mo. That combination puts it in the significant tier for investor interest.
How do landlord-tenant laws work in Hopedale, IL?
IL ranks as a landlord-friendly state for landlord-tenant law. Hopedale generally follows the statewide framework, so landlords face reasonable operating rules.
Are there empty rentals in Hopedale, IL?
Vacancy in Hopedale, IL is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $900/mo.
Is Hopedale, IL better for rentals, flips, or BRRRR?
Hopedale, IL investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($200K prices, $900/mo rents) make it a reasonable choice.
What do rentals go for in Hopedale, IL?
Rental rates in Hopedale, IL average $900/mo. Tenant demand and $200K home values make the yield look reasonable by investor standards.
You know 61747 now. You don’t know where it ranks.
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How 61747 ranks in Peoria, IL
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