LTR & STR financial performance, market growth indicators, and school ratings.
LTR Financial Performance
Median Price
LTR Rent
$1,765
Monthly Cash Flow
-$558
Principal + Equity
$2,035
Annual Total Gain
$17,734
Cash on Cash
-8.27%
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
Best Cities to Raise a Family in America
#90out of 229 markets
Best Cities for Outdoor Activities in America
#78out of 229 markets
Cities with the Lowest Cost of Living in America
#88out of 229 markets
B-
Public School
Short-Term Rental (STR) Regulations
Local rules and guidelines for operating short-term rentals in Elgin, IL.
As of September 2021, Elgin, IL does not have specific regulations in place for short term rentals. However, it is important for investors to be aware of potential changes in regulations and to stay informed about any updates from the city government.
Investors should also be aware of any homeowner association rules or restrictions that may prohibit or limit short term rentals in certain neighborhoods or developments. It is important to thoroughly research and understand the rules and regulations that may affect your ability to operate a short term rental property in Elgin.
Additionally, investors should consider the potential impact of short term rentals on the local community, including issues such as noise, parking, and property maintenance. It is important to be a responsible and considerate host to ensure a positive experience for guests and neighbors alike.
Overall, investors should carefully consider the potential risks and rewards of investing in short term rentals in Elgin, IL and stay informed about any changes in regulations that may affect their investment.
Market Trends Over Time
Explore 25 years of market data for Elgin, 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 Elgin, IL.
The LTR Genie Score of Elgin, IL is 58 and STR Genie Score is 64, indicating a moderate to high potential for both long-term and short-term rental investments. The LTR Rentability is low, which may be attributed to a slightly below-average LTR Rent Growth Rate of 0.0593%. However, the LTR Net ROI of 21.92% and STR Net ROI of 25.12% suggest strong potential for returns in both rental strategies. The 1-Year Price Appreciation Forecast of 1.5% indicates a stable market with potential for modest growth. The STR Occupancy rate of 61.08% and STR Revenue of 2330 further support the attractiveness of short-term rental investments in Elgin, IL.
Elgin, IL is a diverse and growing city located in the Chicago metropolitan area. With a mix of urban amenities and suburban charm, Elgin offers a variety of housing options for residents and investors alike. The city's proximity to major highways and public transportation makes it a convenient location for commuters, while its historic downtown area and parks provide recreational opportunities for residents.
Overall, Elgin, IL presents a promising opportunity for real estate investors interested in both long-term and short-term rental properties. With strong ROI potential in both rental strategies and a stable market outlook, investors may consider diversifying their portfolio in this market. Additionally, the city's growing population and diverse housing options make it an attractive location for investors seeking to capitalize on the demand for rental properties.
