Real Estate Investing in Petersburg, Illinois (62688)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62688 (Petersburg, 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.
- Flat appreciation: Values have barely moved over 5 years (0.6% CAGR).
- Higher unemployment: 7.0% unemployment — tenant risk signal.
• 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 Petersburg, IL (62688)?
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Market Analysis: 62688 Petersburg
Stepping back, ZIP 62688 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $160K median. It rewards specialists, not generalists.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $160K asset, 62688 is the wrong submarket. If the plan prices in friction, the yield can still work.
Statewide comparisons place 62688 among IL's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 62688 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
seems 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 Petersburg:
Market Trends
Home Value History (with trend line)
📊 How Does 62688 Compare?
| Metric | 62688 | Petersburg | Springfield, IL | Illinois |
|---|---|---|---|---|
| Home Value | $160,303 | $194,923 | N/A | $279,761 |
| 5-Year CAGR | 0.6% | 2.6% | N/A | 6.6% |
| Avg Rent | $999 | $986 | N/A | - |
| Cap Rate | 4.9% | 4.1% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62688 (Petersburg, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $160,303 |
| Monthly Rent | $999 |
| Price-to-Rent | 13.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.5% |
| Cap Rate | 4.9% |
| 5-Year IRR | 5.5% |
📈 Home Appreciation
| 1-Year | +12.6% ▲ |
| 3-Year CAGR | +4.5% ▲ |
| 5-Year CAGR | +0.6% ▲ |
| 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 (4.9%). 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 62688
Population: 783
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
Frequently Asked Questions
How strong are rents in Petersburg, IL?
Investors in Petersburg, IL typically see rents near $999/mo per month against $160K home values - a solid setup for rental cash flow.
What approach is best for Petersburg, IL real estate?
The best-fit strategy in Petersburg, IL is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
How does Petersburg, IL stack up for property investment?
Yes - Petersburg, IL a 3.0/5 investability score. With $160K home prices against $999/mo monthly rent, the market delivers a reasonable entry point for new investors.
What kind of vacancy should I budget for in Petersburg, IL?
Occupancy in Petersburg, IL runs measured with elevated vacancy. Well-priced units at $999/mo lease on reasonable timelines.
Is Petersburg, IL good for house hacking?
House hacking in Petersburg, IL is a challenging. With home values around $160K and rents at $999/mo, owner-occupants can offset a meaningful share of PITI.
You know 62688 now. You don’t know where it ranks.
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