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These days, finding an affordable place to live in the 61516 area can be challenging. Home prices in 61516 are now at a median cost of $108,440, lower than the Illinois average of $242,002.
The average cost of rent is $881/mo in 61516, primarily driven by the current value of real estate in the 61516 area. While nearly 34.13% of residents own their homes outright in 61516, 5.13% rent.
Housing affordability isn’t just about home prices, though. The average household income in 61516 is $6,282 per month. Households that rent pay about 14.02% of their income on rent here. 61516's most expensive areas are in the central regions, while the cheapest areas are in the western parts of the zip.
Nearby Zip Codes
- 61561, IL: higher priced homes
- 61760, IL: equally priced homes
- 61738, IL: higher priced homes
- 61358, IL: equally priced homes
- 61771, IL: higher priced homes
- 61570, IL: equally priced homes
- 61541, IL: higher priced homes
- 61321, IL: less expensive homes
- 61545, IL: higher priced homes
- 61530, IL: higher priced homes
Zip Codes with Similar Populations
- 27847, NC: less expensive homes
- 41555, KY: less expensive homes
- 38943, MS: less expensive homes
- 38543, TN: higher priced homes
- 36916, AL: less expensive homes
- 35544, AL: less expensive homes
- 33521, FL: higher priced homes
- 29424, SC: higher priced homes
- 28646, NC: higher priced homes
- 27917, NC: higher priced homes
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