Real Estate Investing in Waynesville, Illinois (61778)
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Should you buy in 61778 (Waynesville, IL)? Our answer, based on the numbers below.
Mixed — values have been flat. OK for long-horizon buyers, less attractive if you may need to sell soon.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 16.2% of homes vacant — above national norms.
- Higher unemployment: 7.6% unemployment — tenant risk signal.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Waynesville, IL (61778)?
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Market Analysis: 61778 Waynesville
ZIP 61778 inside Dewitt County looks affordable on the surface — median value of $127K — but the discount exists for reasons that a careful buyer should understand before committing.
The investment case in 61778 is healthy only for operators who understand what they are buying. A $127K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Nearby ZIPs in Waynesville have seen price recovery that 61778 has not matched. Dewitt County data supports the view that the spread is structural rather than temporary.
The demographic picture in 61778 includes headwinds that any investor should price in. Income distribution skews lower than Waynesville averages, and tenant stability requires active management.
trends toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Waynesville:
Market Trends
Home Value History (with trend line)
📊 How Does 61778 Compare?
| Metric | 61778 | Waynesville | Illinois |
|---|---|---|---|
| Home Value | $126,941 | $126,941 | $279,761 |
| 5-Year CAGR | N/A | N/A | 6.6% |
| Avg Rent | $1,062 | $1,062 | - |
| Cap Rate | 6.5% | 6.5% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 61778 (Waynesville, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $126,941 |
| Monthly Rent | $1,062 |
| Price-to-Rent | 10.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 10.0% |
| Cap Rate | 6.5% |
| 5-Year IRR | 11.9% |
📈 Home Appreciation
| 1-Year | +5.4% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
| 10-Year CAGR | N/A |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) is close to the estimated cap rate (6.5%). Financing this market at current rates produces a cash-on-cash return near the cap rate. Appreciation and tax benefits may still support the investment.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 61778
Population: 461
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Nearby Colleges & Universities
Frequently Asked Questions
How much is rent in Waynesville, IL?
Rents in Waynesville, IL run near $1,062/mo. Compared with median home prices of $127K that produces solid gross yields for typical rentals.
How high is vacancy risk in Waynesville, IL?
Vacancy risk in Waynesville, IL is elevated. That supports steady cash flow for typical rental holds.
What is the investability score for Waynesville, IL?
Yes - Waynesville, IL a 3.0/5 investability score. With $127K home prices against $1,062/mo monthly rent, the market delivers a reasonable entry point for new investors.
Is it easy to find good tenants in Waynesville, IL?
The renter base in Waynesville, IL is reasonable for the $1,062/mo price point. Screening well and pricing to market typically yields predictable tenants.
Which investment style suits Waynesville, IL?
A careful cash-flow rentals with hands-on management strategy Waynesville, IL best. The market produces reliable results for that approach at the $127K price point.
You know 61778 now. You don’t know where it ranks.
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