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Elgin city, IL

ZIP 60123 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 60123

Median Home Value
$242,200
Median Rent
$1,069
Affordability Snapshot
$67,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,556/mo PITI).

15%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

2.8x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

18.9 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 60123 in Elgin city, 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.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
71.4%+9% vs US avg
x
Vacancy Rate
3.6%-65% vs US avg
x
Broadband Access
91.0%+5% vs US avg
x
4+ Bedrooms
3.0%-80% vs US avg
x
Built Pre-1939
4.6%-64% vs US avg
x
Built Post-2014
0.3%-96% vs US avg
x
Rent Burden >30%
24.6%-51% vs US avg
x
Mortgage-Free
31.5%-18% vs US avg
x
$242,200
Home Value
$1,069
Rent
1973
Year Built
2012
Moved In

Residents have lived here since ~2012 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached58.7%
  • 1-unit attached11.5%
  • 2-9 units16.1%
  • 10+ units8.7%
  • Mobile home & other5.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$242,200
Median rent$1,069
Owner-occupied71.4%
Vacant3.6%
Price-to-income2.8x
Est. income to buy$67,000