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Affordable
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These days, finding an affordable place to live in the 62316 area can be challenging. Home prices in 62316 are now at a median cost of $73,173, lower than the Illinois average of $300,242.
The average cost of rent is $712/mo in 62316, primarily driven by the current value of real estate in the 62316 area. In 62316, 15.23% of households rent, and 63.86% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 62316 is $5,154 per month. Households that rent pay about 13.81% of their income on rent here. 62316’s most expensive areas are in the northwestern 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
- 62311, IL: higher priced homes
- 62380, IL: higher priced homes
- 62346, IL: higher priced homes
- 62339, IL: higher priced homes
- 62349, IL: higher priced homes
- 62313, IL: higher priced homes
- 62367, IL: higher priced homes
- 62344, IL: higher priced homes
- 62334, IL: higher priced homes
- 62373, IL: higher priced homes
Zip Codes with Similar Populations
- 26293, WV: higher priced homes
- 93526, CA: higher priced homes
- 89310, NV: higher priced homes
- 88341, NM: higher priced homes
- 87823, NM: higher priced homes
- 86508, AZ: less expensive homes
- 32437, FL: higher priced homes
- 27531, NC: higher priced homes
- 26411, WV: higher priced homes
- 93529, CA: higher priced homes
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