Rockford, IL
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
affordable
Price to income
2.44×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Illinois
- 2.49×-0.04
- vs U.S.
- 3.43×-0.99
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
21.2%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs Illinois
- 20.6%
- vs U.S.
- 23.3%-2.1
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
deal-by-deal
Cap rate proxy
5.64%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Illinois
- 5.30%+0.33
- vs U.S.
- 4.35%+1.29
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
steady
Net migration
+0.06%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs Illinois
- -0.07%+0.13
- vs U.S.
- 0.03%+0.03
Benchmark
IRS net migration ÷ population
tight
Permit pipeline
1.07
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs Illinois
- 1.23
- vs U.S.
- 3.52
Benchmark
Census BPS permits TTM ÷ population × 1,000
softening
Unemployment
6.2%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs Illinois
- 5.3%
- vs U.S.
- 3.9%
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+67.4%
homeValues.yearOverYear
+7.1%
Median home value
$162,600
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $895 | $10,740 | 16.1% |
| 2 BR | $1,175 | $14,100 | 21.2% |
| 3 BR | $1,555 | $18,660 | 28.0% |
Labor market direction
Unemployment
6.2%
Median household income
$66,571
What's being built
Total TTM
361
+21.6% YoY
Single-family
347
2–4 unit
14
5+ unit
0
All 2 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Winnebago County | 284,591 | $155,100 | $64,363 | 297 | +16.5% |
| Boone County | 53,459 | $198,600 | $81,638 | 64 | +45.5% |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Rockford | 338,050 | $66,571 | 2.44× | 5.64% | +67.4% | 1.07 | 6.2% |
| Clarksville, TN-KY | 322,949 | $66,210 | — | — | +61.4% | — | 3.7% |
| South Bend-Mishawaka, IN-MI | 323,992 | $65,385 | — | — | +58.4% | — | 3.2% |
| Spartanburg, SC | 330,119 | $62,440 | — | — | +65.4% | — | 4.9% |
| Roanoke, VA | 314,708 | $67,447 | — | — | +60.9% | — | 3.3% |
| Evansville, IN-KY | 313,961 | $67,671 | — | — | +46.5% | — | 2.6% |
Where people are moving in from
Net migration
+187
+0.06% of population
| Origin county | Tax returns |
|---|---|
| Cook County, IL | 872 |
| Boone County, IL | 627 |
| Winnebago County, IL | 505 |
| Rock County, WI | 446 |
| Kane County, IL | 409 |
| McHenry County, IL | 406 |
Who lives in Rockford
- Median age
- 40
- Bachelor's+
- 24.4%
- Owner-occupancy
- 67.8%
- Vacancy rate
- 7.3%
- Rent burdened (30%+)
- 45.9%
- Median household income
- $66,571
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.