Investing in McLean County
McLean County covers 2 rental markets we actively finance in Illinois — Bloomington, Normal. Across those markets the median investment basis averages $215,000, a long-term lease averages $1,625/month, and the average all-in PITIA on a DSCR loan at the minimum down payment is $1,661. That produces a county-wide average DSCR ratio near 0.98x.
Basis varies more inside McLean County than the average suggests. Bloomington is the lowest entry point at roughly $215,000, while Bloomington currently models the strongest coverage ratio in the county at 0.98x. When two towns in the same county ratio differently, it is almost always the rent-to-price relationship rather than the rate — the same loan pricing applies county-wide, so the deal is won on which submarket you buy in.