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Chicago city, IL

ZIP 60647 — Housing & Real Estate

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

Upper Middle ClassLarge CommunityLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 60647

Median Home Value
$557,300
Median Rent
$1,561
Affordability Snapshot
$153,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$3,580/mo PITI).

18%
Rent-to-Income Ratio

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

5.4x
Home Price-to-Income Ratio

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

29.8 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 60647 in Chicago city, IL, a household would need roughly $153,000 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 $3,580. That is about 49% above the local median household income ($102,851), 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
38.3%-41% vs US avg
x
Vacancy Rate
8.4%-18% vs US avg
x
Broadband Access
92.8%+7% vs US avg
x
4+ Bedrooms
3.0%-80% vs US avg
x
Built Pre-1939
3.8%-71% vs US avg
x
Built Post-2014
0.8%-89% vs US avg
x
Rent Burden >30%
15.0%-70% vs US avg
x
Mortgage-Free
21.1%-45% vs US avg
x
$557,300
Home Value
$1,561
Rent
1938
Year Built
2018
Moved In

Residents have lived here since ~2018 on average

Housing Structure

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

  • 1-unit detached15.1%
  • 1-unit attached2.8%
  • 2-9 units59.6%
  • 10+ units22.4%
  • Mobile home & other0.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$557,300
Median rent$1,561
Owner-occupied38.3%
Vacant8.4%
Price-to-income5.4x
Est. income to buy$153,000