Invest In Apartment Buildings In Moline, IL

What Drives Rental Demand In Moline

About 32.7% of households in Moline, IL rent their home. That's 5,983 renter households, according to the Census Bureau's ACS 2020–2024 estimates. Renter households dropped 4% between the 2015–2019 and 2020–2024 surveys. We treat that as a caution flag and look closely at occupancy in any building we consider here.

The typical Moline household earns $67,701 a year, 24.4% more than in the 2015–2019 survey. The number of employed residents held about flat over the same period, and unemployment stood at 6.8%. Incomes grew faster than rent (24.4% versus 16.9%), which leaves tenants a little more room in their budgets than five years ago.

Moline leans toward ownership. Apartment buildings compete with single-family rentals for tenants, so we look closely at how a property's rents compare with nearby rental houses.

Moline Rent Trends And Supply

Median gross rent in Moline, IL is $900 a month, up 16.9% from $770 in the 2015–2019 survey (U.S. Census ACS 2020–2024). It's a healthy increase, without the spike some fast-growing metros saw.

Rental vacancy is 4.9%, within the normal range for a balanced market. Census vacancy estimates for smaller places carry wide margins of error, so we check them against current local listings. 46% of renters spend 30% or more of their income on housing. That is close to the national picture, where roughly half of renters do, so rent increases need to track local wage growth.

About 17% of homes in Moline are in buildings with 5 or more units, roughly 3,315 homes. That count was down 2.7% over five years, so new apartment supply has been limited. The median home was built in 1956. Much of the stock is old enough that roofs, plumbing and electrical systems need a close look, and older buildings are where value-add renovation plans start. For comparison, HUD's fiscal year 2027 Fair Market Rent for a two-bedroom unit in the Davenport-Moline-Rock Island, IA-IL MSA is $1,056 a month.

Moline By The Numbers

Among the 88 Illinois cities we track, Moline ranks 80th for median gross rent, 30th for renter share and 70th for five-year rent growth. Its rents sit near the bottom of the group, which keeps it affordable for tenants but also caps what renovations can earn. Put in counts rather than percentages, that is roughly 277 more residents, 249 fewer renter households and 92 fewer homes in buildings with 5 or more units than five years earlier. With fewer renter households than before, a building has to win tenants from competitors rather than from new demand.

How Moline Compares With Nearby Markets

Moline's median gross rent of $900 is below the Illinois median of $1,274, and its renter share is 32.7% compared with 32.9% statewide.

Moline Rent Affordability In Dollars

The median rent in Moline works out to $10,800 a year, about 16% of the median household income of $67,701. Under the common 30% guideline, a household needs about $36,000 a year to cover that rent comfortably. That's a lighter load than the Illinois average 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.

Since the 2015–2019 survey, the median rent rose $130 a month ($1,560 a year), while median household income rose $13,279 a year. Income has outpaced rent, which means tenants have a bit more room in their budgets than they did five years ago. HUD's FY2027 Fair Market Rent for a two-bedroom unit, $1,056, is 17.3% 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.

Quick Facts: Moline Rental Market

These are the core numbers for Moline, IL, each from the Census Bureau's American Community Survey.

• Moline, IL has 42,197 residents, up 0.7% from the 2015–2019 survey (U.S. Census ACS 2020–2024).
• Median household income in Moline, IL is $67,701, up 24.4% over five years (U.S. Census ACS 2020–2024).
• Median gross rent in Moline, IL is $900 a month, up 16.9% over five years (U.S. Census ACS 2020–2024).
• 32.7% of households in Moline, IL rent, about 5,983 renter households (U.S. Census ACS 2020–2024).
• 17% of homes in Moline, IL are in buildings with 5 or more units (U.S. Census ACS 2020–2024).
• The rental vacancy rate in Moline, IL is 4.9%, and 46% of renters spend 30% or more of income on rent (U.S. Census ACS 2020–2024).
• The median home in Moline, IL was built in 1956 (U.S. Census ACS 2020–2024).

What We Look For In A Moline Apartment Building

Our buy box in Moline 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.

We use modest rent growth assumptions, realistic repair budgets and financing that can carry the property through a slower year.

Evaluating Apartment Syndications In Moline

Whoever the sponsor is, these are the questions we would want answered about any apartment syndication in Moline, based on the local numbers above.

• What vacancy does the plan assume? Rental vacancy in Moline is 4.9%. A plan that assumes much lower vacancy than the market should explain why.
• What rent growth is underwritten? Rents here rose 16.9% 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.
• What capital work is budgeted? The median home in Moline was built in 1956, so roofs, plumbing and electrical systems deserve their own line items.
• How will the building hold occupancy? Renter households in Moline fell 4%, so the plan should show how it keeps units full.
• 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 Moline Apartment Syndication Works

Here's the short version. The general partner, in this case Skyline, finds an apartment building in Moline, 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.

Syndications are long-term and illiquid, and capital usually stays committed for several years. Results are never certain. Most offerings are limited to accredited investors, and the rules depend on whether a deal uses Rule 506(b) or Rule 506(c). See investing with Skyline Capital for how we work with limited partners.

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