Real Estate Investing in Carthage, Illinois (62321)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62321 (Carthage, IL)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 14.0% 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 Carthage, IL (62321)?
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Market Analysis: 62321 Carthage
On balance, ZIP 62321 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $126K median. It rewards specialists, not generalists.
For an experienced owner, 62321 can be a a credible choice for hunting ground — but the discount at $126K reflects genuine risk that outside investors often underestimate.
Regionally, 62321 sits on the difficult end of the IL spectrum. The an appealing option for read — for disciplined operators — is that pricing reflects the difficulty.
A notable renter share of 19% in 62321 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Experienced landlords with local relationships tend to find 62321 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 Carthage:
Market Trends
Home Value History (with trend line)
📊 How Does 62321 Compare?
| Metric | 62321 | Carthage | Illinois |
|---|---|---|---|
| Home Value | $125,756 | $125,756 | $279,761 |
| 5-Year CAGR | 3.0% | 3.0% | 6.6% |
| Avg Rent | $828 | $828 | - |
| Cap Rate | 5.1% | 5.1% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62321 (Carthage, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $125,756 |
| Monthly Rent | $828 |
| Price-to-Rent | 12.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.9% |
| Cap Rate | 5.1% |
| 5-Year IRR | 8.1% |
📈 Home Appreciation
| 1-Year | +8.0% ▲ |
| 3-Year CAGR | +5.2% ▲ |
| 5-Year CAGR | +3.0% ▲ |
| 10-Year CAGR | +2.2% ▲ |
🏠 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 (5.1%). 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 62321
Population: 3,682
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 62321
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
What is the typical rental rate in Carthage, IL?
The typical rental in Carthage, IL commands about $828/mo monthly. That rent profile stable cash flow against the $126K purchase basis.
Are tenants stable in Carthage, IL?
Carthage, IL draws a stable base of working renters. Demand at the $828/mo rent level is reasonable for standard single-family and small multi rentals.
Are homes affordable in Carthage, IL?
Carthage, IL home values average about $126K. That price point suits investors targeting rentals with $828/mo in monthly income.
How strong is Carthage, IL for real estate investors?
Carthage, IL rates 3.0/5 for investability. With median values at $126K and rents near $828/mo, the market offers reasonable fundamentals for rental investors.
How strict are landlord regulations in Carthage, IL?
Rental owners in Carthage, IL deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
You know 62321 now. You don’t know where it ranks.
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How 62321 ranks in Fort Madison-Keokuk, IA-IL-MO
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