Rental market data · 2024 Census estimates

Chicago, IL-IN rental yield and cash flow

In the Chicago-Naperville-Elgin, IL-IN metro, the median owner-occupied home was valued at $339,700 and the median gross rent was $1,469 a month in 2024. That is a gross rent yield of 5.19%, rank 37 of the 100 largest metros we track.

$339,700Median home value (±$1,930)

$1,469Median gross rent / mo (±$13)

5.19%Gross rent yield

19.3Price-to-rent ratio

1.90%Median taxes ÷ median value

34%Renter-occupied homes

0.43%Monthly rent ÷ price (1% rule)

9.41MMetro population

Does the median home cash flow at today's rate?

We priced a hypothetical rental at the metro medians: $339,700 purchase, $1,469 rent, 25% down, a 30-year loan at 7.28% (Freddie Mac's 30-year average for the week of October 1, 2026), $6,461 in annual property taxes, insurance at 0.5% of price, and 5% vacancy, 10% repairs and 8% management.

At these assumptions the median-priced home runs about $1,292 a month short of covering its costs (DSCR 0.26). Rent would need to reach about $3,147, 114% above the median, to break even, or the price would need to be near $86,765 for a 1.25 DSCR. Net operating income is about $5,414 a year, a 1.59% cap rate, against $20,918 of annual debt service.

Investment-property loans usually price above the owner-occupant average this survey reports, and your insurance quote, tax bill and rent will differ from a metro median. Change any input below.

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How Chicago compares

Metros with the nearest gross yields among the 100 we track. * Cash flow uses the same assumptions as above.

Rank	Metro	Median value	Median rent	Gross yield	Price-to-rent	Cash flow / mo*
34	Allentown, PA-NJ	$332,700	$1,458	5.26%	19.0	-$1,115
35	Indianapolis, IN	$291,400	$1,273	5.24%	19.1	-$837
36	Jacksonville, FL	$375,200	$1,625	5.20%	19.2	-$1,064
37	Chicago, IL-IN	$339,700	$1,469	5.19%	19.3	-$1,292
38	Greensboro, NC	$271,000	$1,171	5.19%	19.3	-$766
39	St. Louis, MO-IL	$268,300	$1,154	5.16%	19.4	-$851
40	Louisville, KY-IN	$265,900	$1,140	5.14%	19.4	-$775

What these numbers leave out

Census gross rent includes utilities when the tenant pays them, so it can overstate what a landlord collects. Median value describes owner-occupied homes, not the rental stock, and a metro median hides wide neighborhood differences. Treat this page as a screen, then underwrite the specific property.

Sources

U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B25064 (median gross rent)
U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B25077 (median value, owner-occupied housing units)
U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B25103 (median real estate taxes paid)
U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B25003 (housing tenure)
U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B01003 (total population)
Freddie Mac Primary Mortgage Market Survey (30-year fixed average, week of October 1, 2026)

Data snapshot October 7, 2026. Methodology: all metros.