Real Estate Investing in Springfield, Illinois (62707)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62707 (Springfield, IL)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
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 Springfield, IL (62707)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 62707 Springfield
On balance, ZIP 62707 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $239K median. It rewards specialists, not generalists.
Rent of $1,035/mo on a $239K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 62707 sits below the stated 0.0% once reality is priced in.
In the broader IL picture, 62707 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
The 62707 ZIP's population of 8,168 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that clocks in at the need for careful underwriting.
appears 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 Springfield:
Market Trends
Home Value History (with trend line)
📊 How Does 62707 Compare?
| Metric | 62707 | Springfield | Springfield, IL | Illinois |
|---|---|---|---|---|
| Home Value | $238,751 | $61,376 | N/A | $279,761 |
| 5-Year CAGR | 5.7% | 6.3% | N/A | 6.6% |
| Avg Rent | $1,035 | $1,288 | N/A | - |
| Cap Rate | 3.4% | 5.4% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62707 (Springfield, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $238,751 |
| Monthly Rent | $1,035 |
| Price-to-Rent | 19.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.2% |
| Cap Rate | 3.4% |
| 5-Year IRR | 9.1% |
📈 Home Appreciation
| 1-Year | +11.6% ▲ |
| 3-Year CAGR | +6.7% ▲ |
| 5-Year CAGR | +5.7% ▲ |
| 10-Year CAGR | +4.0% ▲ |
🏠 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 (3.4%). 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 62707
Population: 8,168
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 62707
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
McClernand Elem School
Enos Elem School
Fairview Elem School
Jane Addams Elem School
Ridgely Elem School
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
Investor Insight: With 1,796 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much should I expect to pay for a home in Springfield, IL?
Typical homes in Springfield, IL go for around $239K. The 5-year CAGR of 0.0% predictable price movement.
How deep is the rental pool in Springfield, IL?
Expect a solid tenant pool in Springfield, IL. The rental market absorbs $1,035/mo rents without meaningful friction.
Is real estate in Springfield, IL a good investment right now?
Springfield, IL scores 3.0/5 for investability. Home values sit at $239K and rents near $1,035/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Is IL a landlord-friendly state?
The landlord environment in Springfield, IL is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
What are vacancy rates like in Springfield, IL?
Vacancy in Springfield, IL is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,035/mo.
You know 62707 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 62707 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 62707 ranks in Springfield, IL
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