Updated 2026 · Based on median market data for Jacksonville, IL
The median monthly rent in Jacksonville, IL is $890, translating to $10,680 in annual gross rental income per unit. The rent-to-price ratio is 0.71% — below the 1% rule but within a range where deals can work with good financing and disciplined expense management. For context, a 0.71% rent-to-price ratio means that for every $100,000 invested in property, you collect approximately $712/mo in gross rent. The gross rent multiplier of 11.7x means it takes 11.7 years of gross rent to equal the purchase price — an excellent ratio that signals strong income relative to cost.
Renters in Jacksonville spend approximately 17% of the local median household income ($62,333) on rent. This is well below the 30% threshold, suggesting significant headroom for rent increases. The 30% affordability ceiling puts maximum supportable rent at approximately $1,558/mo — a full $668/mo above the current median of $890. This gap represents real upside for landlords who invest in property upgrades that justify premium rents.
The vacancy rate in Jacksonville 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. Budget for one month of vacancy per year in your underwriting to be conservative. Population growth of 0.2% annually provides stable demand.
Jacksonville's GRM (price divided by annual rent) is 11.7x. A GRM under 12x is excellent — it means you are paying less than 12 years of gross rent for the property, suggesting strong income relative to price. Markets with GRMs this low typically attract institutional and out-of-state investors seeking yield, which can create competition for the best deals. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x. To beat Jacksonville's median GRM, target properties where you can achieve rents above $890 through renovations, better marketing, or targeting underserved tenant segments — or buy at a discount to the $125,000 median price. Every point lower on GRM translates to roughly 0.5-0.8% improvement in your cap rate.
At the median rent of $890/mo, a single-family rental in Jacksonville generates approximately $10,680 in gross annual income. After accounting for 5.9% vacancy ($630 lost), property taxes of $2,575, insurance (~$500), and maintenance (~$500), the estimated NOI is $6,475 per year, or $540/mo. Adding an 8% management fee ($854/yr) reduces investor cash flow further. Before debt service, you are looking at approximately $5,620/yr in landlord net income. Whether this is attractive depends on your total capital invested — at a $25,000 down payment, the unlevered yield on equity from NOI alone is 25.9%.
Rent growth in Jacksonville is driven by the interplay of population growth (0.2%), income growth, and housing supply constraints. With 0.2% population growth, organic rent growth will be slower — roughly 1.5% annually, taking rents from $890 to $959 over 5 years. The affordability headroom of $668/mo between current rents and the 30% income threshold provides substantial room for rent increases without pushing tenants into financial stress.
With a median income of $62,333 and affordable home prices ($125,000), many tenants in Jacksonville are working families and individuals who could buy but choose to rent — or are saving for a down payment. This creates a reliable tenant base that values stability and tends to stay longer, reducing turnover costs. In a smaller market of 50,000 residents, word-of-mouth and local listing platforms may be more effective than national sites for finding tenants.
Jacksonville is a smaller market where professional PM options may be limited. Fees can run 10-12% of rent, and the quality of available managers varies widely. At $890/mo, management costs roughly $98/mo. Self-management makes sense if you are local, have fewer than 5 units, and the rent level justifies your time — at $890/mo, management fees consume a large percentage of your cash flow — self-management may be necessary to maintain positive returns on smaller portfolios.
Jacksonville vs Illinois state average and national average across key investment metrics. Jacksonville outperforms both benchmarks on cap rate.