Marshall County

Marshall County prices in at a $143,081 median with 4.85% year-over-year appreciation, landing it in the 98th percentile nationally out of 1,000 counties tracked and 16th in Illinois out of 102. The affordability index of 99 out of 100 confirms this is genuinely cheap real estate in absolute terms. What the data does not show is a calculated cap rate or cash-on-cash return, because rent estimates are absent from the dataset. That gap is meaningful: without a confirmed rent figure, you cannot responsibly underwrite this as a cash-flow play from the desk. What you can read from the scores is that the system assigns a cash-flow score of 0 and an appreciation score of 86, which places Marshall squarely on the appreciation end of the spectrum. The price-to-rent ratio cannot be computed here, but the neighbor comparison offers a partial reference point: Peoria County, with a $154,382 median and a $1,168 median rent, carries a gross rent-to-price ratio of 9.08%, which is modest by cash-flow standards. Marshall is priced $11,000 cheaper than Peoria, but without its own rent data, you cannot assume it clears that same ratio.

For buyer type, Marshall fits an appreciation-oriented investor who is comfortable with a thin or unconfirmed cash-flow picture in exchange for low basis and price momentum. The 4.85% annual appreciation on a $143,081 asset means roughly $6,940 in equity gain per year before leverage, which is a reasonable return on a $28,616 down payment if the trend holds. A value-add operator who can establish rents through direct market research on the ground may find opportunity here precisely because the price floor is so low, but that operator needs to do the rent survey themselves before committing. A pure cash-flow buyer targeting a screened, confirmed yield should look elsewhere or treat this as a speculative add-on rather than a core position.

The dataset does not include economic anchors or employer data for Marshall County, so the local demand drivers and job base cannot be assessed from the figures provided. A county of 11,740 people with a stability score of 50 out of 100 signals a thin, potentially volatile market. Small population bases concentrate risk: one employer contraction, one demographic shift, or one agricultural cycle turning negative can move vacancy materially in a market this size. That stability score sitting at the midpoint is not alarming on its own, but paired with missing rent data and a small population, it reinforces that this market rewards investors who have local knowledge rather than those underwriting remotely.

The tax and insurance picture is a genuine headwind and deserves its own line on your underwrite. Illinois carries a state-average effective property tax rate of 2.27%, flagged here as very high, which translates to $3,248 per year on this asset, or $271 per month in tax alone. Add $32 per month for insurance and you are carrying $303 per month in tax and insurance before mortgage, maintenance, management, or vacancy. On a $143,081 purchase with a 20% down, your principal and interest at 6.85% runs approximately $753 per month, bringing the fixed carry to roughly $1,056 before any operating expenses. If market rents in this county are anywhere near the Peoria reference of $1,168, the margin is extremely thin. The 2.27% rate is a state-average estimate per Tax Foundation 2024 data, and the actual county or township levy may be higher or lower, so confirming the specific parcel tax bill before closing is not optional here, it is the underwrite.

The primary risks are concentration and demographic. A population of 11,740 is small enough that the rental pool is limited, which compresses your re-leasing options and lengthens vacancy periods when turnover happens. The stability score of 50 supports this concern. There is no vacancy or regulatory data in the dataset, so specific landlord-tenant or rent-control risk cannot be quantified, though Illinois as a state has historically been more tenant-favorable than many Midwest peers, which is worth researching at the county level before acquiring.

Against its neighbors, Marshall's $143,081 median sits below Peoria ($154,382), Iroquois ($149,561), and Bureau ($143,471), and above Edwards ($124,765) and Richland ($132,577). Its overall score of 79 ties Peoria and Edwards, and trails Richland's 80 by a single point. Peoria is the clearest alternative in this peer set: it has a confirmed rent of $1,168, a documented 9.08% gross rent-to-price ratio, a larger population base that supports liquidity, and a $154,382 median that is only $11,000 more. For an investor who needs a confirmed cash-flow baseline, Peoria is more underwriteable today. Marshall makes more sense than Peoria if you are buying purely on price momentum, want the lowest possible basis in central Illinois, and are willing to do primary rent research to close the data gap. Choose Marshall over its cheaper neighbors, Edwards and Richland, only if that 4.85% appreciation rate proves durable, since Edwards and Richland come in at lower prices but also lower scores.