US5.com
  1. Home
  2. States
  3. Illinois
  4. ZIP 60940
  5. Housing & Real Estate
Grant Park village, IL

ZIP 60940 — 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 60940

Median Home Value
$244,800
Median Rent
$866
Affordability Snapshot
$67,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,573/mo PITI).

11%
Rent-to-Income Ratio

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

2.5x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

23.6 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 60940 in Grant Park 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 $1,573. That sits below the local median household income ($97,778), 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
82.5%+26% vs US avg
x
Vacancy Rate
2.0%-81% vs US avg
x
Broadband Access
88.3%+2% vs US avg
x
4+ Bedrooms
7.9%-46% vs US avg
x
Built Pre-1939
2.8%-78% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
27.4%-45% vs US avg
x
Mortgage-Free
36.8%-4% vs US avg
x
$244,800
Home Value
$866
Rent
1974
Year Built
2009
Moved In

Residents have lived here since ~2009 on average

Housing Structure

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

  • 1-unit detached88.6%
  • 1-unit attached4.5%
  • 2-9 units6.2%
  • 10+ units0.0%
  • Mobile home & other0.7%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$244,800
Median rent$866
Owner-occupied82.5%
Vacant2.0%
Price-to-income2.5x
Est. income to buy$67,000