Is Evanston, IL a good place to invest in rental property?

Evanston, IL has a median modeled monthly cash flow of $-1,261 and a median cap rate of 3.1%, on a median sold price of $450,000. Prices changed +1.6% year over year.

What is the average cap rate in Evanston, IL?

The median cap rate across recently sold homes in Evanston, IL is 3.1%, based on CashFlowRE's rent and expense modeling.

What is the median home price in Evanston, IL?

The median sold price in Evanston, IL is $450,000 (about $318 per square foot).

Investing in Evanston, IL Real Estate

A data-driven snapshot of the Evanston, IL rental-property market, built from recently sold homes and CashFlowRE's per-listing investment modeling — median price, cap rate, monthly cash flow, appreciation and inventory — so you can judge the market before you ever open a listing.

$450,000Median sold price

$318Median $/sqft

3.1%Median cap rate

$-1,261Modeled cash flow / mo

+1.6%Appreciation YoY

5.7Months of supply

380Active listings

802Sold (last 12 mo)

What the Evanston numbers say

In Evanston, IL, the median home sold for $450,000 (about $318 per square foot), and the typical deal models out to a 3.1% cap rate with a median $-1,261 of monthly cash flow. Sold prices moved +1.6% over the past year. Inventory sits at about 5.7 months of supply. These are medians across recorded sales; individual properties vary widely, which is exactly what CashFlowRE scores listing by listing.

Other Illinois markets to compare

See Evanston cash-flowing listings

CashFlowRE ranks every for-sale home in Evanston, IL by cap rate, cash-on-cash return, DSCR and monthly cash flow — so the best rental deals rise to the top. Create a free account to screen Evanston deals, or browse the national market data.