Real Estate Investing in Palmyra, Illinois (62674)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62674 (Palmyra, IL)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 25.4% 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 Palmyra, IL (62674)?
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Market Analysis: 62674 Palmyra
The 62674 ZIP covers a section of Palmyra that demands careful diligence. Prices near $135K look accessible, but the work to make a deal cash flow is real.
Distressed markets are won on execution, not on spreadsheets. ZIP 62674 reflects the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
The gap between 62674 and stronger Palmyra ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Employment concentration in 62674 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategically, 62674 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Palmyra:
Market Trends
Home Value History (with trend line)
📊 How Does 62674 Compare?
| Metric | 62674 | Palmyra | St. Louis, MO-IL | Illinois |
|---|---|---|---|---|
| Home Value | $134,560 | $134,560 | N/A | $279,761 |
| 5-Year CAGR | 2.3% | 2.3% | N/A | 6.6% |
| Avg Rent | $828 | $828 | N/A | - |
| Cap Rate | 4.8% | 4.8% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62674 (Palmyra, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $134,560 |
| Monthly Rent | $828 |
| Price-to-Rent | 13.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.4% |
| Cap Rate | 4.8% |
| 5-Year IRR | 7.1% |
📈 Home Appreciation
| 1-Year | +8.1% ▲ |
| 3-Year CAGR | +2.6% ▲ |
| 5-Year CAGR | +2.3% ▲ |
| 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 (4.8%). 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 62674
Population: 1,319
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 62674
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 does house hacking look like in Palmyra, IL?
Palmyra, IL offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $828/mo rent level.
How strong is Palmyra, IL for real estate investors?
Palmyra, IL records an investability rating of 3.0/5, with median home values near $135K and average rents around $828/mo. That combination puts it in the significant tier for investor interest.
What is the renter demographic in Palmyra, IL?
Expect a solid tenant pool in Palmyra, IL. The rental market absorbs $828/mo rents without meaningful friction.
Is IL a landlord-friendly state?
For rental operators, Palmyra, IL rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
How high is vacancy risk in Palmyra, IL?
Occupancy in Palmyra, IL runs steady with elevated vacancy. Well-priced units at $828/mo lease on reasonable timelines.
You know 62674 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 62674 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 62674 ranks in St. Louis, MO-IL
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