Real Estate Investing in Elkville, Illinois (62932)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62932 (Elkville, 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: 16.4% 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 Elkville, IL (62932)?
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Market Analysis: 62932 Elkville
This part of Jackson County is not an easy win. The 62932 ZIP posts softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Rent of $828/mo on a $107K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 62932 sits below the stated 0.0% once reality is priced in.
Nearby ZIPs in Elkville have seen price recovery that 62932 has not matched. Jackson County data supports the view that the spread is structural rather than temporary.
The 62932 ZIP's population of 1,178 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that clocks in at the need for careful underwriting.
New investors are better served looking at Elkville's stable or hybrid ZIPs before stepping into 62932. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Elkville:
Market Trends
Home Value History (with trend line)
📊 How Does 62932 Compare?
| Metric | 62932 | Elkville | Carbondale-Marion, IL | Illinois |
|---|---|---|---|---|
| Home Value | $106,828 | $106,828 | N/A | $279,761 |
| 5-Year CAGR | 4.6% | 4.6% | N/A | 6.6% |
| Avg Rent | $828 | $828 | N/A | - |
| Cap Rate | 6.1% | 6.1% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62932 (Elkville, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $106,828 |
| Monthly Rent | $828 |
| Price-to-Rent | 10.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.3% |
| Cap Rate | 6.1% |
| 5-Year IRR | 10.6% |
📈 Home Appreciation
| 1-Year | +24.1% ▲ |
| 3-Year CAGR | +5.1% ▲ |
| 5-Year CAGR | +4.6% ▲ |
| 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%) exceeds the estimated cap rate (6.1%). 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 62932
Population: 1,178
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 62932
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
Is real estate in Elkville, IL a good investment right now?
Our data puts Elkville, IL at 3.0/5 for investability. Home prices of $107K and rents around $828/mo create a solid backdrop for investor activity.
How much does a house cost in Elkville, IL?
Median home price in Elkville, IL is near $107K, with a 5-year CAGR of 0.0%. Prices have been predictable and supportive of buy-and-hold strategies.
How should investors approach Elkville, IL?
Investors usually favor careful cash-flow rentals with hands-on management in Elkville, IL. With home values at $107K and rents near $828/mo, other strategies can work but produce predictable rather than outsized returns.
How strong is tenant demand in Elkville, IL?
The tenant pool in Elkville, IL is solid, supported by local employment and population fundamentals. Rents of $828/mo are well-absorbed by the market.
How quickly do rentals get leased in Elkville, IL?
Vacancy in Elkville, IL is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $828/mo.
You know 62932 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 62932 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.
How 62932 ranks in Carbondale-Marion, IL
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