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These days, finding an affordable place to live in the 60016 area can be challenging. Home prices in 60016 are now at a median cost of $306,735, higher than the Illinois average of $300,242.
The average cost of rent is $1,638/mo in 60016, primarily driven by the current value of real estate in the 60016 area. In 60016, 32.91% of households rent, and 45.25% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 60016 is $7,442 per month. Households that rent pay about 22.01% of their income on rent here. 60016’s most expensive areas are in the northern regions, while the cheapest areas are in the northeastern parts of the zip.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Zip Codes
- 60018, IL: equally priced homes
- 60056, IL: higher priced homes
- 60068, IL: higher priced homes
- 60714, IL: higher priced homes
- 60026, IL: higher priced homes
- 60025, IL: higher priced homes
- 60070, IL: equally priced homes
- 60053, IL: higher priced homes
- 60005, IL: higher priced homes
- 60029, IL: higher priced homes
Zip Codes with Similar Populations
- 91343, CA: higher priced homes
- 27703, NC: higher priced homes
- 28215, NC: equally priced homes
- 29483, SC: higher priced homes
- 30101, GA: higher priced homes
- 30253, GA: equally priced homes
- 33064, FL: higher priced homes
- 46227, IN: less expensive homes
- 60073, IL: less expensive homes
- 90660, CA: higher priced homes
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