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Affordable
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These days, finding an affordable place to live in the 61016 area can be challenging. Home prices in 61016 are now at a median cost of $231,695, lower than the Illinois average of $300,242.
The average cost of rent is $814/mo in 61016, primarily driven by the current value of real estate in the 61016 area. In 61016, 9.41% of households rent, and 42.77% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 61016 is $7,876 per month. Households that rent pay about 10.34% of their income on rent here. 61016’s most expensive areas are in the northeastern regions, while the cheapest areas are in the eastern 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
- 61112, IL: less expensive homes
- 61108, IL: less expensive homes
- 61109, IL: less expensive homes
- 61107, IL: less expensive homes
- 61104, IL: less expensive homes
- 61114, IL: equally priced homes
- 61008, IL: less expensive homes
- 61111, IL: less expensive homes
- 61103, IL: less expensive homes
- 61052, IL: less expensive homes
Zip Codes with Similar Populations
- 02322, MA: higher priced homes
- 04250, ME: equally priced homes
- 54106, WI: higher priced homes
- 46148, IN: less expensive homes
- 46347, IN: higher priced homes
- 46562, IN: less expensive homes
- 46710, IN: equally priced homes
- 46741, IN: higher priced homes
- 46914, IN: less expensive homes
- 47106, IN: equally priced homes
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