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These days, finding an affordable place to live in the 60416 area can be challenging. Home prices in 60416 are now at a median cost of $242,669, lower than the Illinois average of $300,242.
The average cost of rent is $1,225/mo in 60416, primarily driven by the current value of real estate in the 60416 area. In 60416, 23.39% of households rent, and 46.47% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 60416 is $6,788 per month. Households that rent pay about 18.05% of their income on rent here. 60416’s most expensive areas are in the northwestern regions, while the cheapest areas are in the northern 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
- 60408, IL: less expensive homes
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- 60474, IL: less expensive homes
- 60935, IL: less expensive homes
- 60450, IL: higher priced homes
- 60961, IL: less expensive homes
- 60479, IL: equally priced homes
Zip Codes with Similar Populations
- 00653, PR: less expensive homes
- 48074, MI: less expensive homes
- 48062, MI: higher priced homes
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- 45107, OH: less expensive homes
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- 39525, MS: equally priced homes
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- 39154, MS: equally priced homes
- 39114, MS: less expensive homes
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