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Madison city, IL

ZIP 62060 — Housing & Real Estate

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

Working ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 62060

Median Home Value
$53,600
Median Rent
$691
Affordability Snapshot
$15,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$344/mo PITI).

21%
Rent-to-Income Ratio

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

1.3x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

6.5 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 62060 in Madison city, IL, a household would need roughly $15,000 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 $344. That sits below the local median household income ($40,139), 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

Vacancy rate 20% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
46.4%-29% vs US avg
x
Vacancy Rate
19.8%+92% vs US avg
x
Broadband Access
78.9%-9% vs US avg
x
4+ Bedrooms
1.2%-92% vs US avg
x
Built Pre-1939
14.4%+13% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
35.6%-28% vs US avg
x
Mortgage-Free
63.1%+65% vs US avg
x
$53,600
Home Value
$691
Rent
1957
Year Built
2011
Moved In

Residents have lived here since ~2011 on average

Housing Structure

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

  • 1-unit detached78.6%
  • 1-unit attached1.2%
  • 2-9 units14.1%
  • 10+ units2.0%
  • Mobile home & other4.2%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$53,600
Median rent$691
Owner-occupied46.4%
Vacant19.8%
Price-to-income1.3x
Est. income to buy$15,000