Real Estate Investing in Smithboro, Illinois (62284)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62284 (Smithboro, IL)? Our answer, based on the numbers below.
Solid choice — stable market with a reasonable entry point and good rental backup if you ever need to move.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
No major risk flags on the data we track.
• 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 Smithboro, IL (62284)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 62284 Smithboro
Not every below-median market is a bargain. Smithboro's 62284 ZIP posts signals that favor experienced operators who can absorb the risk $163K pricing implies.
The 62284 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Statewide comparisons place 62284 among IL's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
A substantial renter share of 13% in 62284 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The 62284 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Smithboro:
Market Trends
Home Value History (with trend line)
📊 How Does 62284 Compare?
| Metric | 62284 | Smithboro | St. Louis, MO-IL | Illinois |
|---|---|---|---|---|
| Home Value | $162,634 | $162,634 | N/A | $279,761 |
| 5-Year CAGR | 3.6% | 3.6% | N/A | 6.6% |
| Avg Rent | $846 | $846 | N/A | - |
| Cap Rate | 4.1% | 4.1% | - | - |
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 62284 (Smithboro, IL). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 62284 (Smithboro, IL)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $162,634 |
| Monthly Rent | $846 |
| Price-to-Rent | 16.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.2% |
| Cap Rate | 4.1% |
| 5-Year IRR | 7.6% |
📈 Home Appreciation
| 1-Year | +16.7% ▲ |
| 3-Year CAGR | +5.9% ▲ |
| 5-Year CAGR | +3.6% ▲ |
| 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 (4.1%). 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 62284
Population: 629
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
What approach is best for Smithboro, IL real estate?
The best-fit strategy in Smithboro, IL is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
Are homes affordable in Smithboro, IL?
Smithboro, IL median home values land near $163K. That is reasonable territory for investors looking at $846/mo-per-month rentals.
Should investors worry about vacancy in Smithboro, IL?
Vacancy in Smithboro, IL is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $846/mo.
Are eviction rules reasonable in Smithboro, IL?
For rental operators, Smithboro, IL rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
Are rents high in Smithboro, IL?
Smithboro, IL rentals go for roughly $846/mo a month. That puts gross yield in solid territory relative to $163K acquisition costs.
You know 62284 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 62284 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 62284 ranks in St. Louis, MO-IL
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 62284 (Smithboro)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 62284 (Smithboro, IL).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.