Real Estate Investing in Herod, Illinois (62947)
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Should you buy in 62947 (Herod, IL)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 29.7% of homes vacant — above national norms.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Herod, IL (62947)?
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Market Analysis: 62947 Herod
Investors eyeing 62947 need to respect the fundamentals at play. Home values of $178K come alongside slower price movement and elevated management overhead.
Turning to rents, the numbers look inviting — $178K purchase price, 0.0% nominal cap — the work to hit that pro forma in 62947 is substantial and deserves full respect.
ZIP 62947's metrics run below Pope County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Demographically, 62947 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
The right play in 62947 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 Herod:
Market Trends
Home Value History (with trend line)
📊 How Does 62947 Compare?
| Metric | 62947 | Herod | Illinois |
|---|---|---|---|
| Home Value | $177,929 | $177,929 | $279,761 |
| 5-Year CAGR | 4.2% | 4.2% | 6.6% |
| Avg Rent | $828 | $828 | - |
| Cap Rate | 3.6% | 3.6% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62947 (Herod, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $177,929 |
| Monthly Rent | $828 |
| Price-to-Rent | 17.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.6% |
| Cap Rate | 3.6% |
| 5-Year IRR | 7.8% |
📈 Home Appreciation
| 1-Year | +16.7% ▲ |
| 3-Year CAGR | +3.7% ▲ |
| 5-Year CAGR | +4.2% ▲ |
| 10-Year CAGR | +3.5% ▲ |
🏠 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 (3.6%). 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 62947
Population: 478
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
🎓 Nearby Colleges & Universities
Investor Insight: With 524 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the average monthly rent in Herod, IL?
Expect rents around $828/mo per month in Herod, IL. With home values at $178K, the yield math works out to reasonable levels for rental investors.
Where do home prices stand in Herod, IL?
Herod, IL median home values land near $178K. That is reasonable territory for investors looking at $828/mo-per-month rentals.
What investment strategy works best in Herod, IL?
Most investors in Herod, 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.
Is Herod, IL good for landlords?
For rental operators, Herod, IL rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
Is Herod, IL a good place for real estate investing?
Yes - Herod, IL a 3.0/5 investability score. With $178K home prices against $828/mo monthly rent, the market delivers a reasonable entry point for new investors.
You know 62947 now. You don’t know where it ranks.
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