Real Estate Investing in Oblong, Illinois (62449)
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Should you buy in 62449 (Oblong, 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.
No major risk flags on the data we track.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Oblong, IL (62449)?
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Market Analysis: 62449 Oblong
This part of Crawford County is not an easy win. The 62449 ZIP reflects softness in key indicators, and the playbook that works in cleaner markets often stalls here.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $130K asset, 62449 is the wrong submarket. If the plan prices in friction, the yield can still work.
On the rental side, 62449 offers a low basis, the region around Oblong has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Who lives in 62449 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 62449 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 Oblong:
Market Trends
Home Value History (with trend line)
📊 How Does 62449 Compare?
| Metric | 62449 | Oblong | Illinois |
|---|---|---|---|
| Home Value | $130,433 | $130,433 | $279,761 |
| 5-Year CAGR | 1.7% | 1.7% | 6.6% |
| Avg Rent | $828 | $828 | - |
| Cap Rate | 5.0% | 5.0% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62449 (Oblong, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $130,433 |
| Monthly Rent | $828 |
| Price-to-Rent | 13.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.6% |
| Cap Rate | 5.0% |
| 5-Year IRR | 6.6% |
📈 Home Appreciation
| 1-Year | +8.3% ▲ |
| 3-Year CAGR | +3.3% ▲ |
| 5-Year CAGR | +1.7% ▲ |
| 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%) exceeds the estimated cap rate (5.0%). 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 62449
Population: 2,883
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 62449
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
What is the average monthly rent in Oblong, IL?
Rent in Oblong, IL is around $828/mo. The resulting rent-to-value relationship with $130K pricing is reasonable for most investor models.
Is rental property easy to operate in Oblong, IL?
Landlord-friendliness in Oblong, IL is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
What is the average home sale price in Oblong, IL?
Expect median prices around $130K in Oblong, IL. The market has run at a 0.0% 5-year CAGR, so entry costs have been consistent.
What real estate strategy is ideal for Oblong, IL?
Oblong, IL investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($130K prices, $828/mo rents) make it a reasonable choice.
How deep is the rental pool in Oblong, IL?
Expect a solid tenant pool in Oblong, IL. The rental market absorbs $828/mo rents without meaningful friction.
You know 62449 now. You don’t know where it ranks.
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