2024 · Illinois
Rental yield in Illinois
In 2024, the typical rental in Illinois produced a gross yield of 5.7% — $1,322/mo median rent against a $281K median home value, ranking 4th of 51 states.
5.7%
Gross rental yield
above the 4.9% U.S. median
$1,322/mo
Median gross rent
incl. utilities (ACS)
$281K
Median home value
owner-occupied (ACS)
Illinois metros by yield
Metropolitan areas in Illinois with at least 65,000 residents, ranked by gross rental yield.
| Metro | Gross yield | Median rent | Median value |
|---|---|---|---|
| Decatur, IL | 7.5% | $896/mo | $143K |
| Peoria, IL | 6.9% | $1,003/mo | $174K |
| Rockford, IL | 6.5% | $1,014/mo | $188K |
| Davenport-Moline-Rock Island, IA-IL | 6.4% | $971/mo | $182K |
| Springfield, IL | 6.4% | $1,047/mo | $198K |
| Kankakee, IL | 6.1% | $1,093/mo | $213K |
| Champaign-Urbana, IL | 6.1% | $1,103/mo | $217K |
| Paducah, KY-IL | 5.7% | $823/mo | $175K |
| Bloomington, IL | 5.4% | $1,034/mo | $232K |
| Chicago-Naperville-Elgin, IL-IN | 5.2% | $1,469/mo | $340K |
| St. Louis, MO-IL | 5.2% | $1,154/mo | $268K |
| Cape Girardeau, MO-IL | 4.9% | $890/mo | $220K |
Frequently asked questions
What is the gross rental yield in Illinois?
In 2024, Illinois had a gross rental yield of 5.7% — $1,322/mo median gross rent against a $281K median home value. That ranks 4th of 51 states (1 = highest yield). Nationally the figure was 4.9%.
Which Illinois metros have the best rental yield?
Among Illinois metros covered by the data, gross yield was highest in Decatur, IL (7.5%), Peoria, IL (6.9%), and Rockford, IL (6.5%).
Does this account for expenses or financing?
No. Gross yield is a top-line market screen — it excludes property taxes, insurance, vacancy, management, and financing. Use it to compare markets, then run a specific deal through a cap-rate or cash-flow calculator.
How investors finance deals in Illinois
Yield shows where the numbers work; our Investor Financing Report for Illinois shows the rate premium, denial rate, and DSCR lending investors face there.
Run a Illinois deal
Source: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Gross rental yield = (median gross rent × 12) ÷ median home value. A market screen, not a net return.