How much is a home worth in ZIP code 60616?

The typical home in 60616 is worth $335,749, based on the Zillow Home Value Index.

Are home values rising in 60616?

Home values in 60616 are down 2.1% over the past year, and down 2.3% a year over five years.

What is the typical rent in 60616?

A typical home in 60616 rents for about $1,866 a month, a gross rental yield of 6.7%.

What is the property tax rate in 60616?

The effective property tax rate in 60616 is 1.5% — roughly $5,035 a year on a typical home.

ZIP code 60616 has a population of 54,308 and a median household income of $73,819.

HousingHandbookReference data

…

U.S. ZIP Code · IL60616

Cook County · Chicago-Naperville-Elgin, IL-IN

Typical home value

$335,749^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -2.1%
5-year / yr: -2.3%
10-year / yr: -0.3%

Relative price

vs U.S.: +18.2%
vs metro: ≈ metro median
vs state: +75.6%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 60616 is worth $335,749. Over the past year, values have fallen 2.1%. Homes here rent for a typical $1,866 a month — a 6.7% gross rental yield. The effective property tax rate is 1.5%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,866^[2]
Gross yield: 6.7%^[2]
Cap rate: 4.0%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 1.5%^[3]
Typical annual tax: $5,035^[3]

#Climate risk

FEMA National Risk Index ratings for Cook County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Very High^[4]
Riverine flood: Very High
Coastal flood: Relatively Low
Wildfire: Very Low
Drought: Very Low
Heat wave: Very High
Hurricane: Very Low
Tornado: Very High
Earthquake: Relatively High
Winter weather: Very High

#Who lives here

Population: 54,308^[3]
Median household income: $73,819^[3]

#Migration

Household moves in and out of Cook County over a year, from IRS tax-return data.

Net migration: -14,346^[5]
Moved in: 86,012
Moved out: 100,358

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 15
Elementary: 9
Middle: 0
High: 6

Healy Elem School
Elementary · Grades K–8 · Chicago Public Schools Dist 299
1,209 students
South Loop Elem School
Elementary · Grades PK–8 · Chicago Public Schools Dist 299
840 students
National Teachers Elem Academy
Elementary · Grades PK–8 · Chicago Public Schools Dist 299
766 students
Sheridan Elem Math & Science Acad
Elementary · Grades K–8 · Chicago Public Schools Dist 299
529 students
Ward J Elem School
Elementary · Grades PK–8 · Chicago Public Schools Dist 299
495 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield6.7%

Net yield (after ~40% expenses)4.0%

Annual rent$22,389

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$1,698

Loan principal$268,599

Down payment$67,150

Total interest paid$342,583

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.28

Monthly cost to own$2,397

Monthly rent$1,866

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 1st percentile^[1]
Rental yield: 44th percentile^[2]
Property tax: 24th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 60616?: The typical home in 60616 is worth $335,749, based on the Zillow Home Value Index.
Are home values rising in 60616?: Home values in 60616 are down 2.1% over the past year, and down 2.3% a year over five years.
What is the typical rent in 60616?: A typical home in 60616 rents for about $1,866 a month, a gross rental yield of 6.7%.
What is the property tax rate in 60616?: The effective property tax rate in 60616 is 1.5% — roughly $5,035 a year on a typical home.
Who lives in 60616?: ZIP code 60616 has a population of 54,308 and a median household income of $73,819.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

60603 vs 60616 →
Chicago, IL
Typical home
$335,469
Gross yield
—
60468 vs 60616 →
Peotone, IL
Typical home
$336,963
Gross yield
—
60461
Olympia Fields, IL
Typical home
$334,413
Gross yield
—
60613
Chicago, IL
Typical home
$337,289
Gross yield
8.7%
60520
Hinckley, IL
Typical home
$334,016
Gross yield
—
46304
Chesterton, IN
Typical home
$333,960
Gross yield
5.2%

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#Jump to section

U.S. ZIP Code · IL60616

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