Real Estate Investing in Chester, Illinois (62233)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62233 (Chester, 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.
- High vacancy: 13.8% 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 Chester, IL (62233)?
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Market Analysis: 62233 Chester
This part of Randolph County is not an easy win. The 62233 ZIP reports softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The investment case in 62233 is healthy only for operators who understand what they are buying. A $134K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Regionally, 62233 sits on the difficult end of the IL spectrum. The a viable market for read — for disciplined operators — is that pricing reflects the difficulty.
A impressive renter share of 24% in 62233 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The right play in 62233 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 Chester:
Market Trends
Home Value History (with trend line)
📊 How Does 62233 Compare?
| Metric | 62233 | Chester | Illinois |
|---|---|---|---|
| Home Value | $134,016 | $134,016 | $279,761 |
| 5-Year CAGR | 6.1% | 6.1% | 6.6% |
| Avg Rent | $846 | $846 | - |
| Cap Rate | 4.9% | 4.9% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62233 (Chester, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $134,016 |
| Monthly Rent | $846 |
| Price-to-Rent | 13.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.6% |
| Cap Rate | 4.9% |
| 5-Year IRR | 11.1% |
📈 Home Appreciation
| 1-Year | +6.4% ▲ |
| 3-Year CAGR | +5.5% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +5.0% ▲ |
🏠 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 (4.9%). 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 62233
Population: 8,233
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 62233
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
Are rents high in Chester, IL?
Chester, IL rentals go for roughly $846/mo a month. That puts gross yield in solid territory relative to $134K acquisition costs.
Are homes affordable in Chester, IL?
Chester, IL median home values land near $134K. That is reasonable territory for investors looking at $846/mo-per-month rentals.
How does Chester, IL rate as a rental market?
Chester, IL rates 3.0/5 for investability. With median values at $134K and rents near $846/mo, the market offers reasonable fundamentals for rental investors.
What real estate strategy is ideal for Chester, IL?
Chester, IL investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($134K prices, $846/mo rents) make it a reasonable choice.
What are vacancy rates like in Chester, IL?
Vacancy in Chester, IL is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $846/mo.
You know 62233 now. You don’t know where it ranks.
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