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Waterman village, IL

ZIP 60556 — 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 60556

Median Home Value
$242,900
Median Rent
$830
Affordability Snapshot
$67,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,560/mo PITI).

11%
Rent-to-Income Ratio

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

2.6x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

24.4 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 60556 in Waterman village, 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 $1,560. That sits below the local median household income ($94,625), 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

Mostly owner-occupied, low vacancy — stable housing market.

Heating Fuel
Housing Metrics
Owner Occupied
83.5%+28% vs US avg
x
Vacancy Rate
3.5%-66% vs US avg
x
Broadband Access
95.1%+9% vs US avg
x
4+ Bedrooms
6.7%-55% vs US avg
x
Built Pre-1939
6.7%-48% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
9.7%-81% vs US avg
x
Mortgage-Free
29.5%-23% vs US avg
x
$242,900
Home Value
$830
Rent
1950
Year Built
2010
Moved In

Residents have lived here since ~2010 on average

Housing Structure

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

  • 1-unit detached85.0%
  • 1-unit attached2.4%
  • 2-9 units6.1%
  • 10+ units3.3%
  • Mobile home & other3.1%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$242,900
Median rent$830
Owner-occupied83.5%
Vacant3.5%
Price-to-income2.6x
Est. income to buy$67,000