Real Estate Investing in Carbondale, Illinois (62902)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62902 (Carbondale, 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: 15.7% 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 Carbondale, IL (62902)?
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Market Analysis: 62902 Carbondale
Investors eyeing 62902 need to respect the fundamentals at play. Home values of $201K come alongside slower price movement and elevated management overhead.
The investment case in 62902 is resilient only for operators who understand what they are buying. A $201K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Within IL, ZIP 62902 trails on several market indicators that neighboring Williamson County submarkets outperform. The gap is real and healthy enough to shape underwriting.
Employment concentration in 62902 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
The right play in 62902 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Carbondale:
Market Trends
Home Value History (with trend line)
📊 How Does 62902 Compare?
| Metric | 62902 | Carbondale | Carbondale-Marion, IL | Illinois |
|---|---|---|---|---|
| Home Value | $200,820 | $178,181 | N/A | $279,761 |
| 5-Year CAGR | 9.0% | 8.9% | N/A | 6.6% |
| Avg Rent | $846 | $787 | N/A | - |
| Cap Rate | 3.3% | 3.5% | - | - |
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 62902 (Carbondale, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $200,820 |
| Monthly Rent | $846 |
| Price-to-Rent | 19.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.1% |
| Cap Rate | 3.3% |
| 5-Year IRR | 12.3% |
📈 Home Appreciation
| 1-Year | +13.2% ▲ |
| 3-Year CAGR | +9.0% ▲ |
| 5-Year CAGR | +9.0% ▲ |
| 10-Year CAGR | +5.0% ▲ |
🏠 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 (3.3%). 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 62902
Population: 4,217
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 62902
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 974 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How should investors approach Carbondale, IL?
In Carbondale, IL the healthy play is typically careful cash-flow rentals with hands-on management. The combination of $201K prices and $846/mo rents suits that approach.
Should investors consider Carbondale, IL?
The 3.0/5 investability rating in Carbondale, IL reflects its $201K prices and $846/mo rents. Investors generally consider it a solid option within IL.
How qualified is the tenant pool in Carbondale, IL?
The tenant pool in Carbondale, IL is solid, supported by local employment and population fundamentals. Rents of $846/mo are well-absorbed by the market.
How do landlord-tenant laws work in Carbondale, IL?
IL ranks as a landlord-friendly state for landlord-tenant law. Carbondale generally follows the statewide framework, so landlords face reasonable operating rules.
What does house hacking look like in Carbondale, IL?
The a challenging house-hack environment in Carbondale, IL reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
You know 62902 now. You don’t know where it ranks.
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How 62902 ranks in Carbondale-Marion, IL
Every ZIP in this metro, ranked. Free.
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