Real Estate Investing in Fowler, Illinois (62338)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62338 (Fowler, 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.
- High vacancy: 19.6% 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 Fowler, IL (62338)?
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Market Analysis: 62338 Fowler
Investors eyeing 62338 need to respect the fundamentals at play. Home values of $247K come alongside slower price movement and elevated management overhead.
For an experienced owner, 62338 can be a a credible choice for hunting ground — but the discount at $247K reflects genuine risk that outside investors often underestimate.
Within IL, ZIP 62338 trails on several market indicators that neighboring Adams County submarkets outperform. The gap is real and significant enough to shape underwriting.
Who lives in 62338 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The right play in 62338 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Fowler:
Market Trends
Home Value History (with trend line)
📊 How Does 62338 Compare?
| Metric | 62338 | Fowler | Quincy, IL-MO | Illinois |
|---|---|---|---|---|
| Home Value | $246,764 | $246,764 | N/A | $279,761 |
| 5-Year CAGR | 8.3% | 8.3% | N/A | 6.6% |
| Avg Rent | $1,044 | $1,044 | N/A | - |
| Cap Rate | 3.3% | 3.3% | - | - |
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 62338 (Fowler, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $246,764 |
| Monthly Rent | $1,044 |
| Price-to-Rent | 19.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.1% |
| Cap Rate | 3.3% |
| 5-Year IRR | 11.6% |
📈 Home Appreciation
| 1-Year | +16.2% ▲ |
| 3-Year CAGR | +5.8% ▲ |
| 5-Year CAGR | +8.3% ▲ |
| 10-Year CAGR | +6.0% ▲ |
🏠 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 (3.3%). 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 62338
Population: 1,109
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
Investor Insight: With 837 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Fowler in IL worth investing in?
Investors tracking Fowler, IL will find a 3.0/5 rating supported by $247K median home values and $1,044/mo rents. That profile suits long-term holders targeting predictable returns.
How much rent can I charge in Fowler, IL?
Rents in Fowler, IL run near $1,044/mo. Compared with median home prices of $247K that produces solid gross yields for typical rentals.
What is the typical renter like in Fowler, IL?
Tenant quality in Fowler, IL ranks as solid. Landlords generally report even-keeled occupancy at market rents of $1,044/mo.
What are vacancy rates like in Fowler, IL?
Vacancy in Fowler, IL is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,044/mo.
What is the median home value in Fowler, IL?
Expect median prices around $247K in Fowler, IL. The market has run at a 0.0% 5-year CAGR, so entry costs have been measured.
You know 62338 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 62338 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 62338 ranks in Quincy, IL-MO
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