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The 5 best rental markets in Illinois for investors & property managers in 2025

Buildium

The state has experienced consistent net outmigration since 2015, particularly in small towns and rural areas, a trend that only accelerated during the pandemic. However, its affordability sets it apart—even in a region that tends to have a lower cost of living than much of the rest of the U.S.—and Multifamily Cap Rate (Q3-’24): 8.3%

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2015 Rental Market Analysis for Landlords – Second Quarter

Real Property Management Choice

The reasons include recent declines in vacancy rates, reductions in the single-family home month supply, gains in the employment rate, as well as continued declines in home ownership and supply of new and existing single-family homes. Census Bureau of Labor Statistics, April 17, 2015; 4.