Real Estate Investing in Elkhart, Illinois (62634)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62634 (Elkhart, 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 middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
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 Elkhart, IL (62634)?
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Market Analysis: 62634 Elkhart
Investors eyeing 62634 need to respect the fundamentals at play. Home values of $173K come alongside slower price movement and elevated management overhead.
Rent of $837/mo on a $173K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 62634 sits below the stated 0.0% once reality is priced in.
Nearby ZIPs in Elkhart have seen price recovery that 62634 has not matched. Logan data supports the view that the spread is structural rather than temporary.
A substantial renter share of 16% in 62634 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The right play in 62634 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 Elkhart:
Market Trends
Home Value History (with trend line)
📊 How Does 62634 Compare?
| Metric | 62634 | Elkhart | Illinois |
|---|---|---|---|
| Home Value | $172,915 | $172,915 | $279,761 |
| 5-Year CAGR | 4.9% | 4.9% | 6.6% |
| Avg Rent | $837 | $837 | - |
| Cap Rate | 3.8% | 3.8% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62634 (Elkhart, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $172,915 |
| Monthly Rent | $837 |
| Price-to-Rent | 17.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.8% |
| Cap Rate | 3.8% |
| 5-Year IRR | 8.7% |
📈 Home Appreciation
| 1-Year | +9.9% ▲ |
| 3-Year CAGR | +6.6% ▲ |
| 5-Year CAGR | +4.9% ▲ |
| 10-Year CAGR | +4.4% ▲ |
🏠 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 (3.8%). 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 62634
Population: 1,141
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
How expensive is real estate in Elkhart, IL?
The median home value in Elkhart, IL is roughly $173K. That puts it reasonable relative to the IL statewide average.
How high is vacancy risk in Elkhart, IL?
Vacancy risk in Elkhart, IL is elevated. That supports even-keeled cash flow for typical rental holds.
How viable is house hacking in Elkhart, IL?
The house hack math a challenging in Elkhart, IL. Owner-occupant buyers benefit from the $837/mo rents and $173K home values.
What are rental rates like in Elkhart, IL?
Rental rates in Elkhart, IL average $837/mo. Tenant demand and $173K home values make the yield look reasonable by investor standards.
What is the renter demographic in Elkhart, IL?
Elkhart, IL offers a even-keeled renter base at the $837/mo rent level. Tenant turnover is reasonable for well-managed properties.
You know 62634 now. You don’t know where it ranks.
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