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Chicago city, IL

ZIP 60623 — Housing & Real Estate

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

Working ClassLarge CommunityLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 60623

Median Home Value
$221,400
Median Rent
$857
Affordability Snapshot
$61,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,422/mo PITI).

23%
Rent-to-Income Ratio

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

5.0x
Home Price-to-Income Ratio

Well above the 3-5x guideline — challenging for first-time buyers.

21.5 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 60623 in Chicago city, IL, a household would need roughly $61,000 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 $1,422. That is about 39% above the local median household income ($44,040), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 12% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
38.4%-41% vs US avg
x
Vacancy Rate
12.3%+19% vs US avg
x
Broadband Access
79.1%-9% vs US avg
x
4+ Bedrooms
3.2%-78% vs US avg
x
Built Pre-1939
7.7%-40% vs US avg
x
Built Post-2014
0.1%-99% vs US avg
x
Rent Burden >30%
27.4%-45% vs US avg
x
Mortgage-Free
50.5%+32% vs US avg
x
$221,400
Home Value
$857
Rent
1938
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 detached19.5%
  • 1-unit attached1.9%
  • 2-9 units72.2%
  • 10+ units5.2%
  • Mobile home & other1.1%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$221,400
Median rent$857
Owner-occupied38.4%
Vacant12.3%
Price-to-income5.0x
Est. income to buy$61,000