Real Estate Investing in Farina, Illinois (62838)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62838 (Farina, 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: 13.7% 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 Farina, IL (62838)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 62838 Farina
ZIP 62838 inside Fayette looks affordable on the surface — median value of $138K — but the discount exists for reasons that a careful buyer should understand before committing.
The 62838 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
The gap between 62838 and stronger Farina ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
A solid renter share of 21% in 62838 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
leans 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 Farina:
Market Trends
Home Value History (with trend line)
📊 How Does 62838 Compare?
| Metric | 62838 | Farina | Illinois |
|---|---|---|---|
| Home Value | $137,610 | $137,610 | $279,761 |
| 5-Year CAGR | 4.3% | 4.3% | 6.6% |
| Avg Rent | $828 | $828 | - |
| Cap Rate | 4.7% | 4.7% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62838 (Farina, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $137,610 |
| Monthly Rent | $828 |
| Price-to-Rent | 13.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.2% |
| Cap Rate | 4.7% |
| 5-Year IRR | 9.0% |
📈 Home Appreciation
| 1-Year | +11.6% ▲ |
| 3-Year CAGR | +1.6% ▲ |
| 5-Year CAGR | +4.3% ▲ |
| 10-Year CAGR | +1.9% ▲ |
🏠 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 (4.7%). 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 62838
Population: 1,555
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 62838
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
Is the tenant base reliable in Farina, IL?
Tenant demand in Farina, IL is solid. The local workforce $828/mo rents across most rental classes.
How does Farina, IL rate as a rental market?
Farina, IL rates 3.0/5 for investability. With median values at $138K and rents near $828/mo, the market offers reasonable fundamentals for rental investors.
Is vacancy a concern in Farina, IL?
Expect elevated vacancy in Farina, IL. Rents at $828/mo are absorbed by the tenant base without meaningful lag.
Is rental property easy to operate in Farina, IL?
The landlord environment in Farina, IL is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
What is the average home sale price in Farina, IL?
Expect median prices around $138K in Farina, IL. The market has run at a 0.0% 5-year CAGR, so entry costs have been predictable.
You know 62838 now. You don’t know where it ranks.
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