Real Estate Investing in Troy, Illinois (62294)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62294 (Troy, 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.
No major risk flags on the data we track.
What’s happening in Troy, IL (62294)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 62294 Troy
The 62294 ZIP in Troy, IL is a local-operator market. Outside capital chasing a $335K entry has to pair deep knowledge with the discount.
Rent of $1,317/mo on a $335K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 62294 sits below the stated 0.0% once reality is priced in.
The gap between 62294 and stronger Troy ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
The demographic picture in 62294 includes headwinds that any investor should price in. Income distribution skews lower than Troy averages, and tenant stability requires active management.
The 62294 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 Troy:
Property Strategy for 62294
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $417,447 | $960 | 1.7% | +6.1% | $417,447 |
| 2BR | $194,599 | $1,180 | 4.4% | +5.6% | $97,300 |
| 3BR | $277,615 | $1,520 | 3.9% | +7.4% | $92,538 |
| 4BR | $354,790 | $1,760 | 3.6% | +7.3% | $88,698 |
| 5BR | $422,809 | — | — | +7.5% | $84,562 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 62294 Compare?
| Metric | 62294 | Troy | St. Louis, MO-IL | Illinois |
|---|---|---|---|---|
| Home Value | $334,671 | $334,671 | N/A | $279,761 |
| 5-Year CAGR | 6.3% | 6.3% | N/A | 6.6% |
| Avg Rent | $1,317 | $1,317 | N/A | - |
| Cap Rate | 3.1% | 3.1% | - | - |
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 62294 (Troy, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $334,671 |
| Monthly Rent | $1,317 |
| Price-to-Rent | 21.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.7% |
| Cap Rate | 3.1% |
| 5-Year IRR | 9.3% |
📈 Home Appreciation
| 1-Year | +7.8% ▲ |
| 3-Year CAGR | +6.2% ▲ |
| 5-Year CAGR | +6.3% ▲ |
| 10-Year CAGR | +6.1% ▲ |
🏠 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 (3.1%). 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 62294
Population: 15,246
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 62294
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
Investor Insight: With 5,374 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What do landlords charge for rent in Troy, IL?
Rent in Troy, IL is around $1,317/mo. The resulting rent-to-value relationship with $335K pricing is reasonable for most investor models.
What kind of tenants rent in Troy, IL?
Tenant quality in Troy, IL ranks as solid. Landlords generally report measured occupancy at market rents of $1,317/mo.
How do home values compare in Troy, IL?
In Troy, IL the median home value sits at $335K. Against the broader IL market, that reads as reasonable for most investors.
How should investors approach Troy, IL?
Most investors in Troy, 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.
What is it like being a landlord in Troy, IL?
IL ranks as a landlord-friendly state for landlord-tenant law. Troy generally follows the statewide framework, so landlords face reasonable operating rules.
You know 62294 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 62294 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 62294 ranks in St. Louis, MO-IL
Every ZIP in this metro, ranked. Free.
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