Real Estate Investing in Clay City, Illinois (62824)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62824 (Clay City, 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.
- High vacancy: 12.8% 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 Clay City, IL (62824)?
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Market Analysis: 62824 Clay City
Not every below-median market is a bargain. Clay City's 62824 ZIP posts signals that favor experienced operators who can absorb the risk $102K pricing implies.
For an experienced owner, 62824 can be a a strong candidate for hunting ground — but the discount at $102K reflects genuine risk that outside investors often underestimate.
In the broader IL picture, 62824 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Who lives in 62824 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The 62824 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 Clay City:
Market Trends
Home Value History (with trend line)
📊 How Does 62824 Compare?
| Metric | 62824 | Clay City | Illinois |
|---|---|---|---|
| Home Value | $101,529 | $101,529 | $279,761 |
| 5-Year CAGR | 4.9% | 4.9% | 6.6% |
| Avg Rent | $828 | $828 | - |
| Cap Rate | 6.4% | 6.4% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62824 (Clay City, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $101,529 |
| Monthly Rent | $828 |
| Price-to-Rent | 10.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.8% |
| Cap Rate | 6.4% |
| 5-Year IRR | 11.3% |
📈 Home Appreciation
| 1-Year | +18.5% ▲ |
| 3-Year CAGR | +6.9% ▲ |
| 5-Year CAGR | +4.9% ▲ |
| 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%) is close to the estimated cap rate (6.4%). Financing this market at current rates produces a cash-on-cash return near the cap rate. Appreciation and tax benefits may still support the investment.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 62824
Population: 1,595
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 62824
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
What is the median home value in Clay City, IL?
Expect median prices around $102K in Clay City, IL. The market has run at a 0.0% 5-year CAGR, so entry costs have been stable.
Are renters plentiful in Clay City, IL?
Working renters make up the core of the Clay City, IL tenant base. The pool is reasonable for investors targeting long-term holds.
How much rent can I charge in Clay City, IL?
Clay City, IL rentals go for roughly $828/mo a month. That puts gross yield in solid territory relative to $102K acquisition costs.
What is the smart move for investors in Clay City, IL?
Most investors in Clay City, 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.
What does house hacking look like in Clay City, IL?
The a challenging house-hack environment in Clay City, IL reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
You know 62824 now. You don’t know where it ranks.
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