Real Estate Investing in Waverly, Illinois (62692)
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Should you buy in 62692 (Waverly, IL)? Our answer, based on the numbers below.
Strong fundamentals — affordable, appreciating, and stable. A confident pick for primary residence.
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 Waverly, IL (62692)?
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Market Analysis: 62692 Waverly
ZIP 62692 inside Morgan County looks affordable on the surface — median value of $120K — but the discount exists for reasons that a careful buyer should understand before committing.
For an experienced owner, 62692 can be a a credible choice for hunting ground — but the discount at $120K reflects genuine risk that outside investors often underestimate.
Regionally, 62692 sits on the difficult end of the IL spectrum. The an appealing option for read — for disciplined operators — is that pricing reflects the difficulty.
Demographically, 62692 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 Waverly:
Market Trends
Home Value History (with trend line)
📊 How Does 62692 Compare?
| Metric | 62692 | Waverly | Jacksonville, IL | Illinois |
|---|---|---|---|---|
| Home Value | $120,273 | $120,273 | N/A | $279,761 |
| 5-Year CAGR | 4.1% | 4.1% | N/A | 6.6% |
| Avg Rent | $918 | $918 | N/A | - |
| Cap Rate | 6.0% | 6.0% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62692 (Waverly, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $120,273 |
| Monthly Rent | $918 |
| Price-to-Rent | 10.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.2% |
| Cap Rate | 6.0% |
| 5-Year IRR | 10.0% |
📈 Home Appreciation
| 1-Year | +17.2% ▲ |
| 3-Year CAGR | +4.4% ▲ |
| 5-Year CAGR | +4.1% ▲ |
| 10-Year CAGR | +2.8% ▲ |
🏠 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 (6.0%). 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 62692
Population: 2,128
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 62692
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.
Frequently Asked Questions
Where do home prices stand in Waverly, IL?
Waverly, IL home values average about $120K. That price point suits investors targeting rentals with $918/mo in monthly income.
Is house hacking profitable in Waverly, IL?
House hacking in Waverly, IL is reasonable to execute. Prices around $120K and rents of $918/mo solid owner-occupant economics.
What kind of tenants rent in Waverly, IL?
Waverly, IL offers a consistent renter base at the $918/mo rent level. Tenant turnover is reasonable for well-managed properties.
Is Waverly, IL landlord-friendly?
IL ranks as a landlord-friendly state for landlord-tenant law. Waverly generally follows the statewide framework, so landlords face reasonable operating rules.
Which real estate strategy fits Waverly, IL?
The best-fit strategy in Waverly, IL is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
You know 62692 now. You don’t know where it ranks.
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How 62692 ranks in Jacksonville, IL
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