ZIP Code 60123 — Elgin city, IL Demographics & Data

ZIP code 60123 covers Elgin, IL in Kane County with a population of about 48,821.

At a glance, the area shows median age of 39.7 (near the U.S. median).

It sits in telephone area codes 224, 847; U.S. House district IL-8; the CHICAGO media market.

Elgin, IL sits in a university / college context (near elgin community college (1.6 mi)). Expect stronger interest in student housing, rentals, walkability, transit, and a younger adult age mix versus typical suburban ZIPs.

Median household income in ZIP 60123 is about $86,762 — about 15% above the U.S. median ($75,149).

On socioeconomic markers, US5 shows a poverty rate of 10.9%; unemployment rate near 5.5%; 24.0% of adults with a bachelor’s degree or higher (about 9.7 points below the national share (33.7%)).

Labor and commute patterns include leading industry context around Manufacturing, Healthcare, and Retail trade; about 11.2% of workers reporting work-from-home (about 4.0 points below the U.S. share (15.2%)); a mean commute of about 180.0 minutes (U.S. average near 26.8).

Median home value is about $242,200 — about 30% below the U.S. median home value ($348,079).

Housing tenure and rents show median gross rent around $1,069 (about 8% below the U.S. median rent ($1,163)), and owner-occupancy near 71.4% (about 6.0 points above the national owner-occupancy rate (65.4%)).

To comfortably buy a median-priced home in ZIP 60123 in Elgin, IL, a household would need roughly $67,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,556. That sits below the local median household income ($86,762), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

FEMA’s National Risk Index rates natural-hazard risk for Elgin city, IL as Relatively High (composite score 94.6), which is among the highest nationally. The strongest component scores on US5 are flood (95.5) and wildfire (32.7). These scores are county-linked NRI values published for planning context — all ZIP codes in the same county share the same composite score on US5. Useful when comparing insurance and disaster exposure across areas, not a substitute for a parcel-level flood or fire determination.

Climate normals for Elgin city, IL show little to no average snow and around 39.9 inches of annual precipitation.

IRS migration statistics show a net inflow of about 2,718 for ZIP 60123 (Elgin city, IL) on US5’s published series — a signal of people/tax filers moving in relative to those leaving. Inflows often track job growth, housing demand, or lifestyle migration; treat the figure as a directional indicator rather than a precise headcount.