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These days, finding an affordable place to live in the 62016 area can be challenging. Home prices in 62016 are now at a median cost of $113,476, lower than the Illinois average of $300,242.
The average cost of rent is $843/mo in 62016, primarily driven by the current value of real estate in the 62016 area. In 62016, 29.20% of households rent, and 55.69% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 62016 is $5,127 per month. Households that rent pay about 16.45% of their income on rent here. 62016’s most expensive areas are in the southwestern 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
- 62027, IL: equally priced homes
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Zip Codes with Similar Populations
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