Real Estate Investing in Casey, Illinois (62420)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62420 (Casey, 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: 13.4% 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 Casey, IL (62420)?
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Market Analysis: 62420 Casey
The 62420 ZIP in Casey, IL is a local-operator market. Outside capital chasing a $135K entry has to pair deep knowledge with the discount.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $135K asset, 62420 is the wrong submarket. If the plan prices in friction, the yield can still work.
In the broader IL picture, 62420 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Demographically, 62420 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Strategy in 62420 is an operator game, not a passive one. In practical terms, entry prices of $135K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Casey:
Market Trends
Home Value History (with trend line)
📊 How Does 62420 Compare?
| Metric | 62420 | Casey | Charleston-Mattoon, IL | Illinois |
|---|---|---|---|---|
| Home Value | $134,611 | $134,611 | N/A | $279,761 |
| 5-Year CAGR | 6.4% | 6.4% | N/A | 6.6% |
| Avg Rent | $873 | $873 | N/A | - |
| 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 62420 (Casey, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $134,611 |
| Monthly Rent | $873 |
| Price-to-Rent | 12.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.8% |
| Cap Rate | 5.1% |
| 5-Year IRR | 11.5% |
📈 Home Appreciation
| 1-Year | +15.7% ▲ |
| 3-Year CAGR | +7.3% ▲ |
| 5-Year CAGR | +6.4% ▲ |
| 10-Year CAGR | +5.5% ▲ |
🏠 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 62420
Population: 4,361
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 62420
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 price range are homes in Casey, IL?
The median home value in Casey, IL is roughly $135K. That puts it reasonable relative to the IL statewide average.
How deep is the rental pool in Casey, IL?
The tenant pool in Casey, IL is solid, supported by local employment and population fundamentals. Rents of $873/mo are well-absorbed by the market.
Are eviction rules reasonable in Casey, IL?
Casey, IL falls under IL landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
Can I house hack in Casey, IL?
Casey, IL offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $873/mo rent level.
What is the best play in Casey, IL?
Casey, IL investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($135K prices, $873/mo rents) make it a reasonable choice.
You know 62420 now. You don’t know where it ranks.
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How 62420 ranks in Charleston-Mattoon, IL
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