Updated 2026 · Based on median market data for Decatur, IL
The median monthly rent in Decatur, IL is $1,120, translating to $13,440 in annual gross rental income per unit. The rent-to-price ratio is 0.93% — below the 1% rule but within a range where deals can work with good financing.
Renters in Decatur spend approximately 22% of the local median household income ($62,333) on rent. This is well below the 30% threshold, suggesting significant headroom for rent increases. Tenants can afford to pay more, which is bullish for landlords.
The vacancy rate in Decatur is 5.9%. This is a healthy vacancy rate that indicates balanced supply and demand. You should be able to find quality tenants without extended vacancies, though expect normal turnover periods of 2-4 weeks between tenants. Population growth of 0.2% annually provides stable demand.
Decatur's GRM (price divided by annual rent) is 8.9x. A GRM under 12x is excellent — it means you're paying less than 12 years of gross rent for the property, suggesting strong income relative to price. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x.
At the median rent of $1,120/mo, a single-family rental in Decatur generates approximately $13,440 in gross annual income. After accounting for 5.9% vacancy ($793 lost), property taxes of $2,472, insurance (~$480), and maintenance (~$480), the estimated NOI is $9,215 per year, or $768/mo.
Decatur vs Illinois state average and national average across key investment metrics. Decatur outperforms both benchmarks on cap rate.