Updated 2026 · Based on median market data for Freeport, IL
The median monthly rent in Freeport, IL is $850, translating to $10,200 in annual gross rental income per unit. The rent-to-price ratio is 0.57% — well below the 1% rule, making pure cash flow investing challenging at median prices.
Renters in Freeport spend approximately 16% 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 Freeport 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.
Freeport's GRM (price divided by annual rent) is 14.7x. A GRM between 12-16x is moderate and typical of balanced markets. Deals can work but you need to keep expenses controlled. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x.
At the median rent of $850/mo, a single-family rental in Freeport generates approximately $10,200 in gross annual income. After accounting for 5.9% vacancy ($602 lost), property taxes of $3,090, insurance (~$600), and maintenance (~$600), the estimated NOI is $5,308 per year, or $442/mo.
Freeport vs Illinois state average and national average across key investment metrics. Freeport's cap rate is below both benchmarks — deal sourcing is critical here.