Irving, IL

  • Overview
  • Performance
  • Listings
  • Buy Box

Key Performance Metrics

Market snapshot

Performance indicators for the Irving short-term rental market based on reliable data.

Listings

108 / 199

Reliable / Active

Cap Rate

21%

Middle-Earners Gross Yield

Revenue

$31,876

Middle-Earners Revenue

Occupancy

72%

Middle-Earners Occupancy

Home Value

$153,074

Median Home Sale Price

Top Earners

$52,214

Top-Earners Revenue

Irving

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Irving.

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C

Challenging to Investors

Irving Regulations

STRs are allowed but heavily regulated under Chicago law, with a $500 per‑unit license, mandatory inspections, $1M insurance and no single‑night stays; zoning caps can limit licenses and violations carry $5,000‑$10,000 fines.

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About Irving

Irving is a small village in Montgomery County, Illinois, situated in the rural prairie of central Illinois along the Interstate 55 corridor. With a population of approximately 700 residents, the community has a quiet, agricultural character and serves as a modest waypoint for travelers moving between larger regional hubs. The surrounding landscape is a mix of corn and soybean fields, scattered woodlands, and small creeks, giving the area a classic Midwestern rural feel. It lies roughly 50 miles south of Springfield, the state capital, and about 65 miles northeast of St. Louis, positioning it within easy driving distance of both metropolitan areas for day trips.

Just a short drive west of Irving, Lake Lou Yaeger is a sizeable reservoir that offers fishing, boating, and lakeside picnicking in a wooded setting. The lake, formed by a dam on the West Fork of Shoal Creek, is a popular local spot for outdoor recreation and is roughly 15 minutes from the village by car. Campgrounds and day-use areas around the shoreline make it a convenient escape for guests looking to enjoy the water without a long journey.

The nearest town of meaningful size is Litchfield, about 10 miles to the west, which provides restaurants, shopping, and a small-town downtown. Litchfield is also a recognized stop along historic Route 66, hosting heritage attractions dedicated to the Mother Road and drawing nostalgia-minded road-trippers who travel the old highway corridor. The Route 66 connection brings a steady stream of vintage-car enthusiasts and history buffs to the region, particularly during the warmer months.

A drive of roughly an hour north brings visitors to Springfield, the state capital, where the Abraham Lincoln Presidential Library and Museum and the Lincoln Home National Historic Site offer rich insight into the life of the 16th president. To the southwest, the St. Louis region—about 75 to 90 minutes by car—offers marquee draws like the Gateway Arch and a major urban cultural scene along the Mississippi River.

With its quiet rural setting, central location along a major interstate, and proximity to both prairie recreation and two significant metropolitan areas, Irving offers a peaceful and affordable base for visitors exploring the breadth of central and southern Illinois. Its position makes it particularly appealing for travelers seeking a slower pace while remaining within reach of major destinations, and for road-trippers tracing the historic Route 66 corridor.

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