Real Estate Investing in Mount Vernon, Illinois (62864)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62864 (Mount Vernon, 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.
- High vacancy: 12.8% of homes vacant — above national norms.
What’s happening in Mount Vernon, IL (62864)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 62864 Mount Vernon
Investors eyeing 62864 need to respect the fundamentals at play. Home values of $138K come alongside slower price movement and elevated management overhead.
Distressed markets are won on execution, not on spreadsheets. ZIP 62864 shows the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Within IL, ZIP 62864 trails on several market indicators that neighboring Jefferson County submarkets outperform. The gap is real and resilient enough to shape underwriting.
A significant renter share of 34% in 62864 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The 62864 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Mount Vernon:
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 62864 Compare?
| Metric | 62864 | Mount Vernon | Mount Vernon, IL | Illinois |
|---|---|---|---|---|
| Home Value | $137,642 | $137,642 | N/A | $279,761 |
| 5-Year CAGR | 6.1% | 6.1% | N/A | 6.6% |
| Avg Rent | $918 | $918 | N/A | - |
| Cap Rate | 5.2% | 5.2% | - | - |
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 62864 (Mount Vernon, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $137,642 |
| Monthly Rent | $918 |
| Price-to-Rent | 12.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.0% |
| Cap Rate | 5.2% |
| 5-Year IRR | 11.3% |
📈 Home Appreciation
| 1-Year | +15.7% ▲ |
| 3-Year CAGR | +7.0% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +0.1% ▲ |
🏠 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 (5.2%). 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 62864
Population: 23,061
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 62864
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
Investor Insight: With 709 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What approach is best for Mount Vernon, IL real estate?
Most investors in Mount Vernon, IL run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
How strong is the working-renter base in Mount Vernon, IL?
Working renters make up the core of the Mount Vernon, IL tenant base. The pool is reasonable for investors targeting long-term holds.
Where do rents currently stand in Mount Vernon, IL?
Rents in Mount Vernon, IL run near $918/mo. Compared with median home prices of $138K that produces solid gross yields for typical rentals.
Does Mount Vernon, IL favor landlords or tenants?
IL law landlord-friendly for landlords, and Mount Vernon inherits those rules. Investors should still review local ordinances for rental licensing.
How do home values compare in Mount Vernon, IL?
Mount Vernon, IL home values average about $138K. That price point suits investors targeting rentals with $918/mo in monthly income.
You know 62864 now. You don’t know where it ranks.
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