STR vs LTR calculator — Illinois
Illinois deals frequently hinge on property tax clarity and local economic trends. Default rent inputs reflect HUD FMR data—pair the calculator with counsel and local pros on legal and tax questions. Same math as the national STR vs LTR calculator; numbers are educational—not lender instructions.
Frequently asked questions
- How do STR platform fees affect returns?
- Platform fees reduce gross booking revenue before operating expenses. This calculator applies your fee percentage to gross nightly revenue after occupancy.
- What occupancy makes short-term rental worth it vs long-term?
- It depends on nightly rate, fees, and expenses. Raise occupancy or nightly rate until STR cash flow and NOI beat your long-term rent scenario on the same financing.
- How should I compare STR vs LTR in Illinois?
- Use realistic occupancy and fee assumptions for STR, then compare against a long-term baseline near about $1,200/month. Include cleaner turnover, management, and regulation-related costs before deciding.
Real estate investing in Illinois
Real estate investing in Illinois
Cook County and other jurisdictions have distinct assessment and appeal dynamics. Your modeled taxes should reflect what you expect after exemptions and appeals, not a single listing line item.
- Typical 2BR rent
- ~$1,200/mo
- Effective property tax
- ~1.79% of home value
- State income tax
- 4.95% flat
Rent: HUD FMR 2025 · Property tax: Tax Foundation 2022 · Adjust all calculator inputs to match your specific deal.
Other calculators for Illinois: BRRRR Calculator · Fix and Flip Calculator. All calculators · Investment property calculator