Real Estate Investing in Mount Carmel, Illinois (62863)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62863 (Mount Carmel, 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: 12.3% 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 Mount Carmel, IL (62863)?
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Market Analysis: 62863 Mount Carmel
ZIP 62863 in Mount Carmel, IL carries a healthy set of headwinds. Home values near $131K and rents of $828/mo sit inside a market where underwriting has to be tight.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 62863 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
ZIP 62863's metrics run below Wabash's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Turning to rents, 9,438 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Distressed ZIPs reward experience. notable returns are possible in 62863, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Mount Carmel:
Market Trends
Home Value History (with trend line)
📊 How Does 62863 Compare?
| Metric | 62863 | Mount Carmel | Illinois |
|---|---|---|---|
| Home Value | $130,872 | $130,872 | $279,761 |
| 5-Year CAGR | 3.0% | 3.0% | 6.6% |
| Avg Rent | $828 | $828 | - |
| Cap Rate | 4.9% | 4.9% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62863 (Mount Carmel, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $130,872 |
| Monthly Rent | $828 |
| Price-to-Rent | 13.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.6% |
| Cap Rate | 4.9% |
| 5-Year IRR | 7.9% |
📈 Home Appreciation
| 1-Year | +9.1% ▲ |
| 3-Year CAGR | +0.7% ▲ |
| 5-Year CAGR | +3.0% ▲ |
| 10-Year CAGR | +1.6% ▲ |
🏠 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 62863
Population: 9,438
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 62863
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
How deep is the rental pool in Mount Carmel, IL?
Tenant quality in Mount Carmel, IL ranks as solid. Landlords generally report reliable occupancy at market rents of $828/mo.
Do rentals sit vacant long in Mount Carmel, IL?
Vacancy in Mount Carmel, IL is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $828/mo.
How much does a house cost in Mount Carmel, IL?
Mount Carmel, IL median home values land near $131K. That is reasonable territory for investors looking at $828/mo-per-month rentals.
Which investment style suits Mount Carmel, IL?
For Mount Carmel, IL, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
Are landlord laws favorable in Mount Carmel, IL?
IL law landlord-friendly for landlords, and Mount Carmel inherits those rules. Investors should still review local ordinances for rental licensing.
You know 62863 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 62863 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.
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