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These days, finding an affordable place to live in the 60516 area can be challenging. Home prices in 60516 are now at a median cost of $416,218, higher than the Illinois average of $300,242.
The average cost of rent is $1,728/mo in 60516, primarily driven by the current value of real estate in the 60516 area. In 60516, 22.18% of households rent, and 38.56% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 60516 is $10,528 per month. Households that rent pay about 16.41% of their income on rent here. 60516’s most expensive areas are in the northern regions, while the cheapest areas are in the southeastern 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
- 60517, IL: less expensive homes
- 60561, IL: equally priced homes
- 60559, IL: equally priced homes
- 60515, IL: higher priced homes
- 60514, IL: higher priced homes
- 60527, IL: equally priced homes
- 60532, IL: less expensive homes
- 60521, IL: higher priced homes
- 60440, IL: less expensive homes
- 60523, IL: higher priced homes
Zip Codes with Similar Populations
- 02176, MA: higher priced homes
- 98685, WA: higher priced homes
- 98466, WA: higher priced homes
- 97008, OR: higher priced homes
- 94585, CA: higher priced homes
- 94131, CA: higher priced homes
- 92653, CA: higher priced homes
- 92173, CA: higher priced homes
- 91324, CA: higher priced homes
- 85641, AZ: equally priced homes
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