Invest In Apartment Buildings In Kendall County, IL

Who Rents In Kendall County

Rental demand in Kendall County comes from 7,247 renter households, which is 16% of occupied housing (ACS 2020–2024). The renter count rose 8.4% from the 2015–2019 survey, roughly in step with population (up 9.2%).

The typical Kendall County household earns $111,601 a year, 15.6% more than in the 2015–2019 survey. The number of employed residents rose 11% over the same period, and unemployment stood at 4.3%. Because rent (26%) outpaced income (15.6%), affordability is tighter than it was five years ago. That favors buildings priced below brand-new product.

Most households in Kendall County own their homes, so the renter pool is smaller. Good apartment buildings can still lease well here, but there are fewer of them to buy and fewer recent sales to price against.

Kendall County Rent Trends And Supply

Median gross rent in Kendall County, IL is $1,781 a month, up 26% from $1,414 in the 2015–2019 survey (U.S. Census ACS 2020–2024). That pace was well above long-run norms. We treat it as history, not as a forecast, when we underwrite a building.

The rental vacancy rate is just 2.8%, a tight market by most standards. 52.4% of renters spend 30% or more of their income on housing. That limits how hard rents can be pushed, so renewals and retention matter more than big increases.

About 5.9% of homes in Kendall County are in buildings with 5 or more units, roughly 2,726 homes. It grew 5.7% over five years, a moderate amount of new supply. The median home was built in 2001, so the housing stock is relatively new. Value-add plans here lean more on management and amenities than on heavy renovation. For comparison, HUD's fiscal year 2027 Fair Market Rent for a two-bedroom unit in the Kendall County, IL HUD Metro FMR Area is $2,341 a month.

Where Kendall County Stands Among Its Peers

We track 11 Illinois counties. Kendall County places 1st for median gross rent, 11th for renter share and 5th for five-year rent growth. That puts its rents near the top of the group, so tenants here are already paying more than in most nearby markets. Put in counts rather than percentages, that is roughly 11,621 more residents, 562 more renter households and 147 more homes in buildings with 5 or more units than five years earlier. Renter households grew by about 3.8 for every new home in a larger apartment building. Not every renter lives in an apartment, but demand has clearly kept ahead of new multifamily supply.

Cities In Kendall County At A Glance

We follow 3 cities in Kendall County. The largest is Plainfield, with a median gross rent of $2,119 a month.

Kendall County Compared With Illinois

Kendall County's median gross rent of $1,781 is above the Illinois median of $1,274.

Can Tenants Afford Kendall County Rents?

At $1,781 a month, the median Kendall County rent adds up to $21,372 a year, or roughly 19.2% of what the median household earns. Under the common 30% guideline, a household needs about $71,200 a year to cover that rent comfortably. That's close to the Illinois figure of 18.3%. Renters usually earn less than the all-household median, so the real burden for tenants is higher than this simple ratio shows.

In dollars, Kendall County rent climbed $367 a month over five years and household income climbed $15,060 a year. Rent has outpaced income, so we are careful about how much further a business plan pushes rents on renewal. HUD's FY2027 Fair Market Rent for a two-bedroom unit, $2,341, is 31.4% above the median gross rent for all unit sizes. That gap matters for buildings that accept Housing Choice Vouchers, since local housing authorities base voucher payment standards on it.

Kendall County Rental Market In Numbers

If you only read one part of this page, read this list. Every figure is from the Census Bureau's ACS 5-year estimates.

• Kendall County, IL has 137,675 residents, up 9.2% from the 2015–2019 survey (U.S. Census ACS 2020–2024).
• Median household income in Kendall County, IL is $111,601, up 15.6% over five years (U.S. Census ACS 2020–2024).
• Median gross rent in Kendall County, IL is $1,781 a month, up 26% over five years (U.S. Census ACS 2020–2024).
• 16% of households in Kendall County, IL rent, about 7,247 renter households (U.S. Census ACS 2020–2024).
• 5.9% of homes in Kendall County, IL are in buildings with 5 or more units (U.S. Census ACS 2020–2024).
• The rental vacancy rate in Kendall County, IL is 2.8%, and 52.4% of renters spend 30% or more of income on rent (U.S. Census ACS 2020–2024).
• The median home in Kendall County, IL was built in 2001 (U.S. Census ACS 2020–2024).

What We Look For In Kendall County

Our buy box in Kendall County is the same one we use nationwide: 5+ unit apartment buildings, stabilized or in need of work, priced on today's rents. Then we test the property against the local data on this page and a full inspection of its major systems.

Property taxes are a big line item for any Illinois apartment building. We underwrite the tax bill after purchase, not the seller's current bill, since a sale often resets the assessment. Illinois has no statewide rent control law, though local rules on notices, fees and deposits still apply. Insurance quotes in Illinois reflect winter storm and frozen-pipe claims, so we get a quote before we make an offer.

After a stretch of fast rent growth, we keep rent assumptions modest and leave room for concessions if new supply opens nearby.

Due Diligence For Apartment Syndications In Kendall County

Before you invest in an apartment syndication in Kendall County, with us or anyone else, the local data points to a few questions worth asking.

• What vacancy does the plan assume? Rental vacancy in Kendall County is 2.8%. A plan that assumes much lower vacancy than the market should explain why.
• What rent growth is underwritten? Rents here rose 26% over five years. Ask whether the plan assumes that pace continues, and what happens to the deal if rents stay flat.
• How was the property tax bill estimated? A sale often triggers a reassessment, so the bill after purchase can be well above what the seller pays today.
• How big is the repair reserve? The median home in Kendall County was built in 2001, and even newer buildings need money set aside for roofs, HVAC and appliances.
• How and when does capital come back? Ask what the plan is for a refinance or sale, and what happens if that takes longer than expected.

How Passive Investing In A Kendall County Apartment Syndication Works

Here's the short version. The general partner, in this case Skyline, finds an apartment building in Kendall County, buys it with a loan and investor capital, and runs it. Limited partners supply part of that capital and hold an ownership share, without landlord duties or personal liability for the loan.

Expect your money to be tied up for years, with no easy way to sell your share early, and remember that any investment can lose money. Most deals are open only to accredited investors under Rule 506(b) or 506(c). See investing with Skyline Capital for how we work with limited partners.

Getting Started

The first step is the investor network. It's free, and it's how we share market notes and get to know investors. If we buy in Kendall County or elsewhere and you're eligible, we'll reach out privately with the details.