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Chicago city, IL

ZIP 60640 — Housing & Real Estate

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

Middle ClassLarge CommunityLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 60640

Median Home Value
$363,300
Median Rent
$1,303
Affordability Snapshot
$100,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$2,334/mo PITI).

22%
Rent-to-Income Ratio

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

5.1x
Home Price-to-Income Ratio

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

23.2 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 60640 in Chicago city, IL, a household would need roughly $100,000 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 $2,334. That is about 41% above the local median household income ($71,030), 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

Diverse housing tenure.

Heating Fuel
Housing Metrics
Owner Occupied
31.3%-52% vs US avg
x
Vacancy Rate
7.7%-26% vs US avg
x
Broadband Access
88.4%+2% vs US avg
x
4+ Bedrooms
1.5%-90% vs US avg
x
Built Pre-1939
7.1%-45% vs US avg
x
Built Post-2014
0.7%-90% vs US avg
x
Rent Burden >30%
21.9%-56% vs US avg
x
Mortgage-Free
29.5%-23% vs US avg
x
$363,300
Home Value
$1,303
Rent
1944
Year Built
2017
Moved In

Residents have lived here since ~2017 on average

Housing Structure

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

  • 1-unit detached5.8%
  • 1-unit attached1.6%
  • 2-9 units33.0%
  • 10+ units59.5%
  • Mobile home & other0.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$363,300
Median rent$1,303
Owner-occupied31.3%
Vacant7.7%
Price-to-income5.1x
Est. income to buy$100,000