LTR & STR financial performance, market growth indicators, and school ratings.
LTR Financial Performance
Median Price
LTR Rent
$2,158
Monthly Cash Flow
-$206
Principal + Equity
$2,001
Annual Total Gain
$21,537
Cash on Cash
-3.16%
Net ROI %
Market Grades and Information
Best Places to Live Ranking
Public school quality, cost of living, commute, and lifestyle ratings.
B
Overall
Top-level market grade
Most Diverse Suburbs in Illinois
#8out of 362 markets
Most Diverse Places to Live in Illinois
#18out of 635 markets
Best Suburbs for Young Professionals in Illinois
#120out of 362 markets
B
Public School
Short-Term Rental (STR) Regulations
Local rules and guidelines for operating short-term rentals in Aurora, IL.
In Aurora, IL, Short Term Rentals (STRs) are regulated by the city's Zoning Ordinance. Here are some key regulations that an investor should be aware of before purchasing a property for STR purposes in Aurora:
1. Zoning Restrictions: Aurora has specific zoning regulations that dictate where STRs are allowed to operate within the city. Investors should check the city's Zoning Ordinance to ensure that the property they are considering purchasing is located in a zone that permits STRs.
2. Licensing and Permits: In Aurora, property owners are required to obtain a Short Term Rental License in order to operate an STR. The application process typically involves submitting documentation, paying a fee, and meeting certain requirements set by the city.
3. Occupancy Limits: Aurora has occupancy limits for STRs, which dictate the maximum number of guests that can stay in the property at any given time. Investors should ensure that the property they are considering purchasing complies with these occupancy limits.
4. Safety and Health Regulations: Aurora has safety and health regulations that STRs must adhere to, such as having working smoke detectors, carbon monoxide detectors, and fire extinguishers. Investors should ensure that the property they are considering purchasing meets these requirements.
5. Taxes: Property owners operating STRs in Aurora are required to collect and remit applicable taxes, such as the Hotel/Motel Tax. Investors should be aware of these tax obligations and factor them into their financial projections.
6. Noise and Nuisance Regulations: Aurora has regulations in place to address noise and nuisance issues related to STRs. Investors should familiarize themselves with these regulations and ensure that the property they are considering purchasing complies with them.
Overall, investors looking to purchase a property for Short Term Rental purposes in Aurora, IL should thoroughly research and understand the city's regulations and requirements for operating an STR. By doing so, investors can ensure compliance with the law and avoid potential legal issues down the road.
Market Trends Over Time
Explore 25 years of market data for Aurora, IL, including median property prices, long-term rental rates, and days on market — identify growth potential and gauge market stability.
Median Price
Median Rent
Days on Market
Nearest Markets
Explore nearby investment markets close to Aurora, IL.
The LTR Genie Score of Aurora, IL is 63 and the STR Genie Score is 55. The LTR Rentability is low, which could be impacting the overall LTR Genie Score. However, the LTR Net ROI is relatively high at 27.53%, indicating a potentially profitable long-term rental investment opportunity. On the other hand, the STR Net ROI is slightly lower at 19.39%, but the STR Revenue and occupancy rate are decent. The 1-Year Price Appreciation Forecast is also positive at 1.54%.
In comparison, the LTR Genie Score is higher than the STR Genie Score, suggesting that Aurora, IL may be more suitable for long-term rental investments rather than short-term rentals. The LTR Rent Growth Rate is positive, indicating potential for rental income growth over time.
Aurora, IL is a diverse city with a growing population and a strong economy. It is located in the Chicago metropolitan area, providing easy access to a variety of amenities and job opportunities. The real estate market in Aurora is stable, making it a potentially attractive location for real estate investors.
Overall, Aurora, IL appears to be a promising market for long-term rental investment due to the high LTR Genie Score and positive rental income potential. However, investors should carefully evaluate their investment goals and risk tolerance before making a decision.
LTR Genie Score 93
$155,000
🛏 2 Beds🛁 1.0000 Baths🏙 1,013 sqft.🏠 SINGLE FAMILY
