Real Estate Investing in Oakland, Illinois (61943)
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Should you buy in 61943 (Oakland, IL)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 11.3% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Oakland, IL (61943)?
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Market Analysis: 61943 Oakland
This part of Coles County is not an easy win. The 61943 ZIP records softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The investment case in 61943 is impressive only for operators who understand what they are buying. A $139K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Statewide comparisons place 61943 among IL's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 61943 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
The right play in 61943 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Oakland:
Market Trends
Home Value History (with trend line)
📊 How Does 61943 Compare?
| Metric | 61943 | Oakland | Charleston-Mattoon, IL | Illinois |
|---|---|---|---|---|
| Home Value | $139,276 | $165,942 | N/A | $279,761 |
| 5-Year CAGR | 5.7% | 6.6% | N/A | 6.6% |
| Avg Rent | $828 | $828 | N/A | - |
| Cap Rate | 4.6% | 4.0% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 61943 (Oakland, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $139,276 |
| Monthly Rent | $828 |
| Price-to-Rent | 14.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.1% |
| Cap Rate | 4.6% |
| 5-Year IRR | 10.4% |
📈 Home Appreciation
| 1-Year | +10.7% ▲ |
| 3-Year CAGR | +8.5% ▲ |
| 5-Year CAGR | +5.7% ▲ |
| 10-Year CAGR | +5.4% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.6%). 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 61943
Population: 1,495
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 61943
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
Frequently Asked Questions
How much does a house cost in Oakland, IL?
Oakland, IL median home values land near $139K. That is reasonable territory for investors looking at $828/mo-per-month rentals.
How do experienced investors play Oakland, IL?
Most investors in Oakland, IL run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
How much is rent in Oakland, IL?
The typical rental in Oakland, IL commands about $828/mo monthly. That rent profile reliable cash flow against the $139K purchase basis.
Is Oakland in IL worth investing in?
With a 3.0/5 investability score, Oakland, IL ranks as a solid market for rental property investors. Median prices of $139K and rents of $828/mo drive the underlying numbers.
How deep is the rental pool in Oakland, IL?
Oakland, IL offers a even-keeled renter base at the $828/mo rent level. Tenant turnover is reasonable for well-managed properties.
You know 61943 now. You don’t know where it ranks.
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How 61943 ranks in Charleston-Mattoon, IL
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