Updated 2026 · Based on median market data for Jacksonville, IL
Jacksonville sits in the Midwest with a population of 50,000 growing at 0.2% annually. The median home costs $125,000 while rents average $890/mo, producing an estimated cap rate of 5.18%. This is a moderate market that rewards careful deal sourcing.
Jacksonville works best for experienced investors with a clear strategy — Section 8, student housing, or deep value-add rehabs. The 5.18% cap rate at median prices is tight, so success depends on buying below market, forcing appreciation through renovation, or accessing above-market rent streams through niche tenant bases.
Target properties priced 15-25% below the $125,000 median — around $100,000 or less. At this price point with $890/mo rents, your cap rate improves to roughly 7.2%. Factor in 2.06% property taxes ($2,575/yr), budget 5% of gross rent for maintenance, and underwrite to a 5.9% vacancy rate. On a 20% down conventional loan at 7%, monthly PITI will run approximately $980.
Property taxes at 2.06% are notably high — this is a significant drag on NOI that some investors underestimate. Every deal should be evaluated individually using our calculator tools. Median data provides a starting point; actual returns depend on the specific property, financing, and your management approach.
Run the numbers on a specific Jacksonville property using our cap rate calculator (pre-filled with Jacksonville data). Compare Jacksonville against similar markets in the Midwest region. If you're considering a value-add approach, try our BRRRR calculator to model a rehab scenario.
Jacksonville vs Illinois state average and national average across key investment metrics. Jacksonville outperforms both benchmarks on cap rate.