ZIP Code 60124 — Elgin city, IL Demographics & Data

ZIP code 60124 covers Elgin, IL in Kane County with a population of about 24,400.

At a glance, the area shows median age of 42.5 versus a U.S. median of about 38.9.

It sits in telephone area codes 224, 847; U.S. House district IL-11; the CHICAGO media market.

Median household income in ZIP 60124 is about $135,350 — about 80% above the U.S. median ($75,149).

On socioeconomic markers, US5 shows a poverty rate of 2.2%; unemployment rate near 3.8%; 49.9% of adults with a bachelor’s degree or higher (about 16.2 points above the national share (33.7%)).

Labor and commute patterns include leading industry context around Professional services, Healthcare, and Wholesale trade; about 28.3% of workers reporting work-from-home (about 13.1 points above 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 $403,300 — about 16% above the U.S. median home value ($348,079).

Housing tenure and rents show median gross rent around $1,792 (about 54% above the U.S. median rent ($1,163)), and owner-occupancy near 93.9% (about 28.5 points above the national owner-occupancy rate (65.4%)).

To comfortably buy a median-priced home in ZIP 60124 in Elgin, IL, a household would need roughly $111,000 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 $2,591. That sits below the local median household income ($135,350), 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 1,358 for ZIP 60124 (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.