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Washington Park village, IL

ZIP 62204 — 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 62204

Median Home Value
$48,200
Median Rent
$532
Affordability Snapshot
$13,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$310/mo PITI).

17%
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.

7.6 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 62204 in Washington Park village, IL, a household would need roughly $13,000 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 $310. That sits below the local median household income ($36,789), 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 40% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
68.9%+5% vs US avg
x
Vacancy Rate
40.3%+291% vs US avg
x
Broadband Access
61.0%-30% vs US avg
x
4+ Bedrooms
5.3%-64% vs US avg
x
Built Pre-1939
9.5%-25% vs US avg
x
Built Post-2014
0.7%-90% vs US avg
x
Rent Burden >30%
22.6%-55% vs US avg
x
Mortgage-Free
61.6%+61% vs US avg
x
$48,200
Home Value
$532
Rent
1956
Year Built
2004
Moved In

Residents have lived here since ~2004 on average

Housing Structure

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

  • 1-unit detached70.4%
  • 1-unit attached1.9%
  • 2-9 units11.3%
  • 10+ units13.8%
  • Mobile home & other2.6%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$48,200
Median rent$532
Owner-occupied68.9%
Vacant40.3%
Price-to-income1.3x
Est. income to buy$13,000