Real Estate Investing in Chapin, Illinois (62628)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62628 (Chapin, 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.
- Elevated vacancy: 11.6% vacancy may signal weakening demand.
• 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 Chapin, IL (62628)?
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Market Analysis: 62628 Chapin
ZIP 62628 inside Morgan County looks affordable on the surface — median value of $111K — but the discount exists for reasons that a careful buyer should understand before committing.
For an experienced owner, 62628 can be a a viable market for hunting ground — but the discount at $111K reflects genuine risk that outside investors often underestimate.
Stepping back, 62628 offers a low basis, the region around Chapin has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Resident income in 62628 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
looks to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Chapin:
Market Trends
Home Value History (with trend line)
📊 How Does 62628 Compare?
| Metric | 62628 | Chapin | Jacksonville, IL | Illinois |
|---|---|---|---|---|
| Home Value | $111,366 | $111,366 | N/A | $279,761 |
| 5-Year CAGR | 4.7% | 4.7% | N/A | 6.6% |
| Avg Rent | $1,008 | $1,008 | N/A | - |
| Cap Rate | 7.1% | 7.1% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62628 (Chapin, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $111,366 |
| Monthly Rent | $1,008 |
| Price-to-Rent | 9.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 10.9% |
| Cap Rate | 7.1% |
| 5-Year IRR | 11.7% |
📈 Home Appreciation
| 1-Year | +18.8% ▲ |
| 3-Year CAGR | +5.2% ▲ |
| 5-Year CAGR | +4.7% ▲ |
| 10-Year CAGR | +3.9% ▲ |
🏠 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 (7.1%). 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 62628
Population: 871
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 much do tenants pay in Chapin, IL?
Rent in Chapin, IL is around $1,008/mo. The resulting rent-to-value relationship with $111K pricing is reasonable for most investor models.
Are tenants stable in Chapin, IL?
Working renters make up the core of the Chapin, IL tenant base. The pool is reasonable for investors targeting long-term holds.
Is housing expensive in Chapin, IL?
Chapin, IL home values average about $111K. That price point suits investors targeting rentals with $1,008/mo in monthly income.
Is Chapin, IL landlord-friendly?
IL ranks as a landlord-friendly state for landlord-tenant law. Chapin generally follows the statewide framework, so landlords face reasonable operating rules.
Is Chapin, IL a good market for buy-and-hold investors?
Our data puts Chapin, IL at 3.0/5 for investability. Home prices of $111K and rents around $1,008/mo create a solid backdrop for investor activity.
You know 62628 now. You don’t know where it ranks.
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How 62628 ranks in Jacksonville, IL
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