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Bowen village, IL

ZIP 62316 — 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 62316

Median Home Value
$76,000
Median Rent
N/A
Affordability Snapshot
$21,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$488/mo PITI).

1.1x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

To comfortably buy a median-priced home in ZIP 62316 in Bowen village, IL, a household would need roughly $21,000 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 $488. That sits below the local median household income ($67,946), 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
81.9%+25% vs US avg
x
Vacancy Rate
2.2%-78% vs US avg
x
Broadband Access
81.5%-6% vs US avg
x
4+ Bedrooms
0.6%-96% vs US avg
x
Built Pre-1939
10.1%-21% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
1.8%-96% vs US avg
x
Mortgage-Free
42.7%+12% vs US avg
x
$76,000
Home Value
N/A
Rent
1956
Year Built
2010
Moved In

Residents have lived here since ~2010 on average

Housing Structure

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

  • 1-unit detached87.3%
  • 1-unit attached0.0%
  • 2-9 units5.7%
  • 10+ units0.6%
  • Mobile home & other6.3%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$76,000
Median rent$-666,666,666
Owner-occupied81.9%
Vacant2.2%
Price-to-income1.1x
Est. income to buy$21,000