Real Estate Investing in Waterloo, Illinois (62298)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62298 (Waterloo, IL)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High price-to-rent: Price-to-rent ratio 29.5 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Waterloo, IL (62298)?
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Market Analysis: 62298 Waterloo
ZIP 62298 in Waterloo, IL carries a substantial set of headwinds. Home values near $334K and rents of $945/mo sit inside a market where underwriting has to be tight.
For an experienced owner, 62298 can be a a solid fit for hunting ground — but the discount at $334K reflects genuine risk that outside investors often underestimate.
Statewide comparisons place 62298 among IL's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Employment concentration in 62298 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategically, 62298 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 Waterloo:
Property Strategy for 62298
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $183,549 | $860 | 3.4% | — | $183,549 |
| 2BR | $228,837 | $1,050 | 3.3% | +8.0% | $114,419 |
| 3BR | $328,586 | $1,350 | 3.0% | +7.3% | $109,529 |
| 4BR | $386,331 | $1,560 | 2.9% | +6.3% | $96,583 |
| 5BR | $457,611 | — | — | +7.1% | $91,522 |
Market Trends
Home Value History (with trend line)
📊 How Does 62298 Compare?
| Metric | 62298 | Waterloo | St. Louis, MO-IL | Illinois |
|---|---|---|---|---|
| Home Value | $334,210 | $334,210 | N/A | $279,761 |
| 5-Year CAGR | 5.5% | 5.5% | N/A | 6.6% |
| Avg Rent | $945 | $945 | N/A | - |
| Cap Rate | 2.2% | 2.2% | - | - |
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 62298 (Waterloo, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $334,210 |
| Monthly Rent | $945 |
| Price-to-Rent | 29.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.4% |
| Cap Rate | 2.2% |
| 5-Year IRR | 7.7% |
📈 Home Appreciation
| 1-Year | +5.1% ▲ |
| 3-Year CAGR | +5.9% ▲ |
| 5-Year CAGR | +5.5% ▲ |
| 10-Year CAGR | +5.4% ▲ |
🏠 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 (2.2%). 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 62298
Population: 17,907
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 62298
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
Frequently Asked Questions
Is Waterloo, IL a smart market for rental property?
With a 3.0/5 investability score, Waterloo, IL ranks as a solid market for rental property investors. Median prices of $334K and rents of $945/mo drive the underlying numbers.
Do landlords face vacancy issues in Waterloo, IL?
Expect elevated vacancy in Waterloo, IL. Rents at $945/mo are absorbed by the tenant base without meaningful lag.
How much does a house cost in Waterloo, IL?
In Waterloo, IL the median home value sits at $334K. Against the broader IL market, that reads as reasonable for most investors.
How deep is the rental pool in Waterloo, IL?
The tenant pool in Waterloo, IL is solid, supported by local employment and population fundamentals. Rents of $945/mo are well-absorbed by the market.
How much do tenants pay in Waterloo, IL?
Expect rents around $945/mo per month in Waterloo, IL. With home values at $334K, the yield math works out to reasonable levels for rental investors.
You know 62298 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 62298 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 62298 ranks in St. Louis, MO-IL
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