Real Estate Investing in Steeleville, Illinois (62288)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62288 (Steeleville, 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: 8.6% 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 Steeleville, IL (62288)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 62288 Steeleville
ZIP 62288 inside Randolph County looks affordable on the surface — median value of $173K — but the discount exists for reasons that a careful buyer should understand before committing.
The investment case in 62288 is solid only for operators who understand what they are buying. A $173K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
In the broader IL picture, 62288 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
The demographic picture in 62288 includes headwinds that any investor should price in. Income distribution skews lower than Steeleville averages, and tenant stability requires active management.
Experienced landlords with local relationships tend to find 62288 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Steeleville:
Market Trends
Home Value History (with trend line)
📊 How Does 62288 Compare?
| Metric | 62288 | Steeleville | Illinois |
|---|---|---|---|
| Home Value | $173,203 | $173,203 | $279,761 |
| 5-Year CAGR | 6.1% | 6.1% | 6.6% |
| Avg Rent | $828 | $828 | - |
| Cap Rate | 3.7% | 3.7% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62288 (Steeleville, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $173,203 |
| Monthly Rent | $828 |
| Price-to-Rent | 17.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.7% |
| Cap Rate | 3.7% |
| 5-Year IRR | 9.8% |
📈 Home Appreciation
| 1-Year | +13.3% ▲ |
| 3-Year CAGR | +6.6% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +5.6% ▲ |
🏠 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 (3.7%). 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 62288
Population: 2,592
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 62288
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
Where do home prices stand in Steeleville, IL?
Steeleville, IL median home values land near $173K. That is reasonable territory for investors looking at $828/mo-per-month rentals.
How do landlord-tenant laws work in Steeleville, IL?
IL law landlord-friendly for landlords, and Steeleville inherits those rules. Investors should still review local ordinances for rental licensing.
What is the tenant pool like in Steeleville, IL?
The tenant pool in Steeleville, IL is solid, supported by local employment and population fundamentals. Rents of $828/mo are well-absorbed by the market.
What strategy should investors use in Steeleville, IL?
A careful cash-flow rentals with hands-on management strategy Steeleville, IL best. The market produces reliable results for that approach at the $173K price point.
Is Steeleville in IL worth investing in?
Investors tracking Steeleville, IL will find a 3.0/5 rating supported by $173K median home values and $828/mo rents. That profile suits long-term holders targeting even-keeled returns.
You know 62288 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 62288 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.
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