Real Estate Investing in Westfield, Illinois (62474)
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Should you buy in 62474 (Westfield, IL)? Our answer, based on the numbers below.
Solid choice — stable market with a reasonable entry point and good rental backup if you ever need to move.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- Declining values: -0.8% 5-year CAGR — values have moved lower.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Westfield, IL (62474)?
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Market Analysis: 62474 Westfield
ZIP 62474 in Westfield, IL carries a notable set of headwinds. Home values near $107K and rents of $945/mo sit inside a market where underwriting has to be tight.
The investment case in 62474 is substantial only for operators who understand what they are buying. A $107K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Statewide comparisons place 62474 among IL's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Who lives in 62474 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Distressed ZIPs reward experience. durable returns are possible in 62474, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Westfield:
Market Trends
Home Value History (with trend line)
📊 How Does 62474 Compare?
| Metric | 62474 | Westfield | Charleston-Mattoon, IL | Illinois |
|---|---|---|---|---|
| Home Value | $107,282 | $107,282 | N/A | $279,761 |
| 5-Year CAGR | N/A | N/A | N/A | 6.6% |
| Avg Rent | $945 | $945 | N/A | - |
| Cap Rate | 6.9% | 6.9% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62474 (Westfield, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $107,282 |
| Monthly Rent | $945 |
| Price-to-Rent | 9.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 10.6% |
| Cap Rate | 6.9% |
| 5-Year IRR | 6.1% |
📈 Home Appreciation
| 1-Year | +10.0% ▲ |
| 3-Year CAGR | +0.7% ▲ |
| 5-Year CAGR | -0.8% ▼ |
| 10-Year CAGR | N/A |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) is close to the estimated cap rate (6.9%). Financing this market at current rates produces a cash-on-cash return near the cap rate. Appreciation and tax benefits may still support the investment.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 62474
Population: 651
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
Frequently Asked Questions
What is the investability score for Westfield, IL?
Westfield, IL shows an investability rating of 3.0/5, with median home values near $107K and average rents around $945/mo. That combination puts it in the notable tier for investor interest.
What is it like being a landlord in Westfield, IL?
IL ranks as a landlord-friendly state for landlord-tenant law. Westfield generally follows the statewide framework, so landlords face reasonable operating rules.
How much rent can I charge in Westfield, IL?
Rents in Westfield, IL run near $945/mo. Compared with median home prices of $107K that produces solid gross yields for typical rentals.
Do landlords face vacancy issues in Westfield, IL?
Rental vacancy in Westfield, IL is elevated. Investors should budget normal turnover but not chronic empty units.
How strong is tenant demand in Westfield, IL?
Westfield, IL draws a measured base of working renters. Demand at the $945/mo rent level is reasonable for standard single-family and small multi rentals.
You know 62474 now. You don’t know where it ranks.
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How 62474 ranks in Charleston-Mattoon, IL
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