Real Estate Investing in Raleigh, Illinois (62977)
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Should you buy in 62977 (Raleigh, 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: 20.2% 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 Raleigh, IL (62977)?
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Market Analysis: 62977 Raleigh
This part of Saline County is not an easy win. The 62977 ZIP reports softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Looking more closely, the numbers look inviting — $149K purchase price, 0.0% nominal cap — the work to hit that pro forma in 62977 is substantial and deserves full respect.
Stepping back, 62977 offers a low basis, the region around Raleigh has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Employment concentration in 62977 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 62977 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 Raleigh:
Market Trends
Home Value History (with trend line)
📊 How Does 62977 Compare?
| Metric | 62977 | Raleigh | Illinois |
|---|---|---|---|
| Home Value | $148,748 | $148,748 | $279,761 |
| 5-Year CAGR | 7.0% | 7.0% | 6.6% |
| Avg Rent | $882 | $882 | - |
| Cap Rate | 4.6% | 4.6% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62977 (Raleigh, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $148,748 |
| Monthly Rent | $882 |
| Price-to-Rent | 14.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.1% |
| Cap Rate | 4.6% |
| 5-Year IRR | 11.7% |
📈 Home Appreciation
| 1-Year | +10.9% ▲ |
| 3-Year CAGR | +3.8% ▲ |
| 5-Year CAGR | +7.0% ▲ |
| 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 (4.6%). 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 62977
Population: 520
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
How qualified is the tenant pool in Raleigh, IL?
Expect a solid tenant pool in Raleigh, IL. The rental market absorbs $882/mo rents without meaningful friction.
Is real estate in Raleigh, IL a good investment right now?
Raleigh, IL scores 3.0/5 for investability. Home values sit at $149K and rents near $882/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
What is the typical home price in Raleigh, IL?
In Raleigh, IL the median home value sits at $149K. Against the broader IL market, that reads as reasonable for most investors.
How viable is house hacking in Raleigh, IL?
House hacking in Raleigh, IL is a challenging. With home values around $149K and rents at $882/mo, owner-occupants can offset a meaningful share of PITI.
Do rentals sit vacant long in Raleigh, IL?
Expect elevated vacancy in Raleigh, IL. Rents at $882/mo are absorbed by the tenant base without meaningful lag.
You know 62977 now. You don’t know where it ranks.
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