Real Estate Investing in Greenfield, Illinois (62044)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62044 (Greenfield, IL)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 14.8% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Greenfield, IL (62044)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 62044 Greenfield
The 62044 ZIP covers a section of Greenfield that demands careful diligence. Prices near $133K look accessible, but the work to make a deal cash flow is real.
Stepping back, the numbers look inviting — $133K purchase price, 0.0% nominal cap — the work to hit that pro forma in 62044 is substantial and deserves full respect.
Within IL, ZIP 62044 trails on several market indicators that neighboring Greene County submarkets outperform. The gap is real and notable enough to shape underwriting.
Resident income in 62044 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategically, 62044 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 Greenfield:
Market Trends
Home Value History (with trend line)
📊 How Does 62044 Compare?
| Metric | 62044 | Greenfield | St. Louis, MO-IL | Illinois |
|---|---|---|---|---|
| Home Value | $133,446 | $133,446 | N/A | $279,761 |
| 5-Year CAGR | N/A | N/A | N/A | 6.6% |
| Avg Rent | $954 | $954 | N/A | - |
| Cap Rate | 5.6% | 5.6% | - | - |
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 62044 (Greenfield, IL). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 62044 (Greenfield, IL)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $133,446 |
| Monthly Rent | $954 |
| Price-to-Rent | 11.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.6% |
| Cap Rate | 5.6% |
| 5-Year IRR | 16.5% |
📈 Home Appreciation
| 1-Year | +10.9% ▲ |
| 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%) exceeds the estimated cap rate (5.6%). 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 62044
Population: 2,086
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 62044
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.
Frequently Asked Questions
Is housing expensive in Greenfield, IL?
Greenfield, IL home values average about $133K. That price point suits investors targeting rentals with $954/mo in monthly income.
What is it like being a landlord in Greenfield, IL?
IL ranks as a landlord-friendly state for landlord-tenant law. Greenfield generally follows the statewide framework, so landlords face reasonable operating rules.
Is vacancy a concern in Greenfield, IL?
Rental vacancy in Greenfield, IL is elevated. Investors should budget normal turnover but not chronic empty units.
What is the average monthly rent in Greenfield, IL?
Expect rents around $954/mo per month in Greenfield, IL. With home values at $133K, the yield math works out to reasonable levels for rental investors.
Does house hacking work in Greenfield, IL?
House hacking in Greenfield, IL is reasonable to execute. Prices around $133K and rents of $954/mo solid owner-occupant economics.
You know 62044 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 62044 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 62044 ranks in St. Louis, MO-IL
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 62044 (Greenfield)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 62044 (Greenfield, IL).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.