How much is a home worth in ZIP code 60640?

The typical home in 60640 is worth $349,589, based on the Zillow Home Value Index.

Are home values rising in 60640?

Home values in 60640 are up 1.7% over the past year, and up 4.1% a year over five years.

What is the typical rent in 60640?

A typical home in 60640 rents for about $1,996 a month, a gross rental yield of 6.9%.

What is the property tax rate in 60640?

The effective property tax rate in 60640 is 1.5% — roughly $5,150 a year on a typical home.

ZIP code 60640 has a population of 65,445 and a median household income of $73,254.

HousingHandbookReference data

…

U.S. ZIP Code · IL60640

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

Typical home value

$349,589^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +1.7%
5-year / yr: +4.1%
10-year / yr: +3.3%

Relative price

vs U.S.: +23.1%
vs metro: +3.7%
vs state: +82.8%

Price history

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

The typical home in 60640 is worth $349,589 — 3.7% above the Chicago-Naperville-Elgin, IL-IN median. Over the past year, values have risen 1.7%. Homes here rent for a typical $1,996 a month — a 6.9% 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: $1,996^[2]
Gross yield: 6.9%^[2]
Cap rate: 4.1%^[2]

#Property tax

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

Effective tax rate: 1.5%^[3]
Typical annual tax: $5,150^[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: 65,445^[3]
Median household income: $73,254^[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: 7
Elementary: 4
Middle: 0
High: 3

McPherson Elem School
Elementary · Grades PK–8 · Chicago Public Schools Dist 299
735 students
Goudy Technology Academy
Elementary · Grades PK–8 · Chicago Public Schools Dist 299
549 students
McCutcheon Elem School
Elementary · Grades PK–8 · Chicago Public Schools Dist 299
346 students
Courtenay Elem Language Arts Ctr
Elementary · Grades PK–8 · Chicago Public Schools Dist 299
303 students
YCCS-Truman Middle College HS
High · Grades 9–12 · Chicago Public Schools Dist 299
191 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 yield6.9%

Net yield (after ~40% expenses)4.1%

Annual rent$23,955

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$1,768

Loan principal$279,671

Down payment$69,918

Total interest paid$356,705

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 ratio1.25

Monthly cost to own$2,487

Monthly rent$1,996

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: 18th percentile^[1]
Rental yield: 48th percentile^[2]
Property tax: 22nd percentile^[3]

Frequently asked

How much is a home worth in ZIP code 60640?: The typical home in 60640 is worth $349,589, based on the Zillow Home Value Index.
Are home values rising in 60640?: Home values in 60640 are up 1.7% over the past year, and up 4.1% a year over five years.
What is the typical rent in 60640?: A typical home in 60640 rents for about $1,996 a month, a gross rental yield of 6.9%.
What is the property tax rate in 60640?: The effective property tax rate in 60640 is 1.5% — roughly $5,150 a year on a typical home.
Who lives in 60640?: ZIP code 60640 has a population of 65,445 and a median household income of $73,254.

#Comparable ZIPs

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

60661 vs 60640 →
Chicago, IL
Typical home
$348,838
Gross yield
8.6%
60513 vs 60640 →
Brookfield, IL
Typical home
$350,723
Gross yield
6.5%
46321
Munster, IN
Typical home
$350,843
Gross yield
7.9%
60002
Antioch, IL
Typical home
$351,130
Gross yield
7.9%
60030
Grayslake, IL
Typical home
$351,576
Gross yield
7.8%
60106
Bensenville, IL
Typical home
$347,505
Gross yield
6.3%

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

Compare ZIPs

Pit ZIP 60640 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · IL60640

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