The story of this market
The typical home in ZIP 62538 sells for about $144,164, or $73 per square foot.
Prices are up +9.3% from a year ago, so sellers still have some momentum. Homes take about 87 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $759 a month.
ZIP 62538 — Harvel
The housing market in 62538 is characterized by low inventory and slow turnover typical of a small rural community. Home values have seen modest appreciation over the past year, driven by limited supply rather than high demand. The market remains stable with minimal new development activity.
This ZIP is best suited for individuals or families seeking a quiet, rural lifestyle with a lower cost of living compared to larger Illinois metropolitan areas.
Median prices moved up 9.3% year over year.
Homes spend a median of 87 days on market with 6.0 months of supply — a balanced-paced market.
25% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 0.0% · poverty 14.0% — a stable, low-distress profile.
versus the prior ACS vintage
ZCTA 62538, Montgomery County IL
The area is a small rural community in Montgomery County with limited large-scale industrial or commercial development.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Illinois) — Property Tax Assessment (Fair Cash Value): Property is assessed at 33 1/3% of its fair cash value. The tax bill is calculated by multiplying the equalized assessed value (EAV) by the aggregate tax rate of the local taxing districts.
Residents typically rely on personal vehicles for commuting to nearby employment hubs in the Taylorville micro area.
Local recreation is primarily rural-focused with limited immediate access to major urban parks or shopping districts.
The rental market is limited in depth due to the small population size and low density of multi-family housing.
The local economy is primarily driven by agriculture and small-scale local services within the Montgomery County region.
Transportation is entirely dependent on regional highway access; there is no public transit infrastructure.
No major commercial or residential developments are currently reported for this rural ZIP code.
The Montgomery County Supervisor of Assessments manages the appraisal process for all residential properties in the county.
Parcels are subject to local school district and county-level property tax levies.
Property insurance premiums in this region are influenced by standard Midwestern weather risks, including wind and storm exposure.
Illinois is a judicial foreclosure state requiring court intervention for the foreclosure process.
Illinois law requires sellers to provide a Residential Real Property Disclosure Report detailing the condition of the property.
Data retrieved from Census Reporter and ACS 2024 profiles.
- Lake Williamson Christian Center4.618.6 mi
- Nesty's Burger Joint4.517.1 mi
- Lake Lou Yaeger4.612.7 mi
- Lake Lou Yaeger4.612.7 mi
- Lake Taylorville Marina4.417.7 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area ranked by popularity within the radius shown.
Local community green space.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.