Real Estate Investing in Charleston, Illinois (61920)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 61920 (Charleston, IL)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 12.8% of homes vacant — above national norms.
What’s happening in Charleston, IL (61920)?
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Market Analysis: 61920 Charleston
ZIP 61920 inside Coles County looks affordable on the surface — median value of $170K — but the discount exists for reasons that a careful buyer should understand before committing.
Looking more closely, the numbers look inviting — $170K purchase price, 0.0% nominal cap — the work to hit that pro forma in 61920 is substantial and deserves full respect.
Stepping back, 61920 offers a low basis, the region around Charleston has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Employment concentration in 61920 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategically, 61920 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Charleston:
Property Strategy for 61920
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $92,415 | $1,000 | 7.8% | +7.8% | $46,208 |
| 3BR | $164,621 | $1,310 | 5.7% | +7.0% | $54,874 |
| 4BR | $221,240 | $1,400 | 4.6% | +7.2% | $55,310 |
| 5BR | $208,136 | — | — | +6.9% | $41,627 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 61920 Compare?
| Metric | 61920 | Charleston | Charleston-Mattoon, IL | Illinois |
|---|---|---|---|---|
| Home Value | $169,852 | $169,852 | N/A | $279,761 |
| 5-Year CAGR | 6.8% | 6.8% | N/A | 6.6% |
| Avg Rent | $732 | $732 | N/A | - |
| Cap Rate | 3.4% | 3.4% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 61920 (Charleston, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $169,852 |
| Monthly Rent | $732 |
| Price-to-Rent | 19.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.2% |
| Cap Rate | 3.4% |
| 5-Year IRR | 10.2% |
📈 Home Appreciation
| 1-Year | +10.6% ▲ |
| 3-Year CAGR | +7.8% ▲ |
| 5-Year CAGR | +6.8% ▲ |
| 10-Year CAGR | +4.8% ▲ |
🏠 Rent Trends
| 1-Year | -0.8% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.4%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 61920
Population: 20,703
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
🎓 Schools in 61920
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 2,054 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the rental occupancy rate in Charleston, IL?
Occupancy in Charleston, IL runs reliable with elevated vacancy. Well-priced units at $732/mo lease on reasonable timelines.
What do landlords charge for rent in Charleston, IL?
Rent in Charleston, IL is around $732/mo. The resulting rent-to-value relationship with $170K pricing is reasonable for most investor models.
Are homes affordable in Charleston, IL?
Charleston, IL home values average about $170K. That price point suits investors targeting rentals with $732/mo in monthly income.
How do experienced investors play Charleston, IL?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Charleston, IL. The numbers - $170K homes against $732/mo rents - support that play.
Does Charleston, IL make sense for an investment property?
The 3.0/5 investability rating in Charleston, IL reflects its $170K prices and $732/mo rents. Investors generally consider it a solid option within IL.
You know 61920 now. You don’t know where it ranks.
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How 61920 ranks in Charleston-Mattoon, IL
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