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

Evanston, IL has a median modeled monthly cash flow of $-1,277 and a median cap rate of 2.9%, on a median sold price of $455,000. Prices changed +5.0% year over year.

What is the average cap rate in Evanston, IL?

The median cap rate across recently sold homes in Evanston, IL is 2.9%, 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 $455,000 (about $324 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.

$455,000Median sold price

$324Median $/sqft

2.9%Median cap rate

$-1,277Modeled cash flow / mo

+5.0%Appreciation YoY

3.9Months of supply

261Active listings

813Sold (last 12 mo)

What the Evanston numbers say

In Evanston, IL, the median home sold for $455,000 (about $324 per square foot), and the typical deal models out to a 2.9% cap rate with a median $-1,277 of monthly cash flow. Sold prices moved +5.0% over the past year. Inventory sits at about 3.9 months of supply — a tight, seller-friendly market. 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.