Logan County

Logan County, Illinois posts a median home price of $145,436 with 7.1% year-over-year appreciation, an affordability index of 99 out of 100, and an appreciation score of 92. Those numbers tell a specific story: this is a market where prices are moving meaningfully but the entry point remains low enough that appreciation, not cash flow, is doing the heavy lifting. The dataset does not include a cap rate, gross rent multiplier, or estimated cash flow figure, which itself is informative. When a market scores a 0 on cash flow but a 92 on appreciation, the math is telling you that rents at current price levels are not generating meaningful spread after debt service at 6.85% interest. The 7.1% price gain, if it continues, is the return story here, not monthly income.

That profile makes Logan a fit for a specific type of buyer: the patient appreciation investor who can tolerate neutral or slightly negative monthly cash flow in exchange for price gains off a low base. At $145,436, the capital at risk is modest and the percentage gains compound off a small number, which is why the appreciation score ranks this county third in Illinois out of 102 and first nationally out of 1,000 counties in the dataset. A cash-flow buyer targeting a 8%+ gross yield has the wrong map for this territory. A value-add operator buying distressed assets below the $145K median, forcing equity through renovation, and then either refinancing or selling into the appreciation trend has a more viable path, provided they can source deals meaningfully below median and manage carry costs during the hold.

No economic anchors or employer data were provided for Logan County, so the underlying demand drivers for rental occupancy cannot be assessed from this dataset. Lincoln, the county seat, anchors a county of roughly 28,000 residents. A population of that size limits the depth of the rental market and means vacancy swings from even a small number of units coming online can move local rents materially. Investors accustomed to larger metros should underwrite accordingly: thin rental pools are not a dealbreaker, but they require tighter property selection and faster lease-up expectations.

The single most important line on your underwrite for Logan County is property taxes. Illinois carries a state-average effective property tax rate of 2.27%, which the data flags as very high, and that translates to $3,301 in annual taxes on the median-priced asset, or $275 per month. Add $33 per month in estimated insurance and you're looking at $308 per month in combined tax and insurance before touching principal, interest, maintenance, or vacancy. At a 6.85% rate on a $116,349 loan (80% LTV on $145,436), the mortgage payment alone adds another layer of fixed cost. The state-average rate carries the honest caveat that county and township rates in Illinois can differ substantially from the statewide figure, but in a state that consistently ranks among the highest property-tax states nationally, the directional risk is real and deserves its own line on every pro forma you build here.

The population of 28,027 is the most concrete risk flag the data surfaces. Concentrated, small-population counties face demand fragility: a single employer contraction, a school closure, or outmigration tied to statewide demographic trends can reduce rental demand faster than a larger market would absorb. Illinois has well-documented population loss at the state level, and smaller downstate counties are disproportionately exposed. The appreciation score of 92 is notable precisely because it runs against that broader trend, which suggests either a localized demand catalyst or a catch-up dynamic off a suppressed base. Without economic anchor data, the durability of that appreciation is harder to underwrite with confidence.

Against its neighbors, Logan compares well on score (82 overall versus neighbors ranging from 80 to 81) but not on all dimensions. Vermilion County is the most instructive comparison: a median home price of $93,310, a rent-to-price ratio of 10.49%, and a median rent of $815 make Vermilion a demonstrably stronger cash-flow market. An investor whose primary objective is gross yield and monthly income should be underwriting Vermilion ahead of Logan. Menard County, at a $198,736 median, reflects a higher entry cost that compresses yield further, making it harder to justify on either a cash-flow or risk-adjusted basis relative to Logan. Choose Logan over its neighbors when your thesis is appreciation off a low-cost basis with modest capital deployed, when you're comfortable with neutral cash flow for a multi-year hold, and when you've stress-tested the Illinois property tax load against your actual county rate before closing.