Zip lookup · IL

60616
Chicago, Illinois.

Chicago, Cook County, IL · Chicago-Naperville-Elgin, IL-IN-WI metro · population 54,308

What it costs per month · 60616 $1,773/mo

to buy the typical home at today's mortgage rate — +$466 (+36%) since Jan 2020.

What the home itself did
1 year
Down $1,512 -0%
$339,301$337,788 since Sep 2025
5 years
Down $37,901 -10%
$375,690$337,788 since Sep 2021

Monthly payment to buy the typical home

Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.

$500 $1,000 $1,500 $2,000 2002 2006 2010 2014 2018 2022 2026 60616 $1,773 United States $1,922
$500 $1,000 $1,500 $2,000 2002 2010 2018 2026
  • 60616$1,773
  • United States$1,922

At the last five years' pace, prices here aren't rising.

Typical home values in zip 60616 fell 0.4% over the past year — slower than the nation's +1.2%.

Asking rents in zip 60616 rose 3.6% over the past year — faster than the nation's +2.7%.

Owning the typical home in zip 60616 runs $814/mo more than renting one. The gap peaked at $1,363 in Nov 2022.

That is $2,672 a month against $1,857 rent: a $1,773 mortgage payment, plus $537 property tax and $362 insurance & upkeep.

Owning vs renting — zip 60616

The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.

$1,500 $2,000 $2,500 $3,000 2018 2020 2022 2024 2026 Owning all in $2,672 Renting $1,857 Mortgage only $1,773
$1,500 $2,000 $2,500 $3,000 2018 2022 2026
  • Owning all in$2,672
  • Renting$1,857
  • Mortgage only$1,773

Property tax · $537/mo 1.91% of value a year — the ACS 2020-2024 median bill over the median home value for Cook County, IL

Insurance & upkeep · $362/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.

Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.

Zillow also publishes an index for the city itself: Chicago, IL — measured over the city limits, which is a different area from this zip.

Asking rent $1,857 as of Sep 2026
+3.6%year on year
Typical home value $337,788 as of Sep 2026
-0.4%year on year

Asking rent — 60616

Against the Chicago-Naperville-Elgin, IL-IN-WI metro and the national benchmark.

$1,250 $1,500 $1,750 $2,000 2018 2020 2022 2024 2026 60616 $1,857 Chicago $2,163 United States $1,932
$1,250 $1,500 $1,750 $2,000 2018 2022 2026
  • 60616$1,857
  • Chicago$2,163
  • United States$1,932

Typical home value — 60616

Mid-tier homes, smoothed and seasonally adjusted.

$250,000 $300,000 $350,000 $400,000 2018 2020 2022 2024 2026 60616 $337,788 Chicago $355,650 United States $366,157
$250,000 $300,000 $350,000 $400,000 2018 2022 2026
  • 60616$337,788
  • Chicago$355,650
  • United States$366,157

Within 20 miles

Showing 30 of 146 zips in range — sorting picks from all 146.

10 mi 20 mi 50 mi
Miles Zip City Population Rent Home value
1.5 60605 Chicago 36,210 $2,756 $343,490
2.0 60653 Chicago 33,383 $2,272 $331,511
2.3 60608 Chicago 80,737 $1,914 $367,513
2.3 60604 Chicago 616 — $329,485
2.4 60607 Chicago 32,392 $2,975 $447,876
2.4 60603 Chicago 1,298 $2,382 $344,576
2.6 60606 Chicago 3,840 $2,794 $334,437
2.6 60602 Chicago 1,480 $2,438 $296,968
2.7 60609 Chicago 62,028 $1,642 $263,163
2.8 60661 Chicago 11,398 $2,607 $349,059
2.8 60601 Chicago 15,235 $3,042 $389,068
3.2 60615 Chicago 42,975 $1,855 $251,090
3.3 60654 Chicago 25,755 $2,879 $382,667
3.5 60611 Chicago 37,705 $2,956 $361,427
4.0 60612 Chicago 35,744 $2,328 $380,092
4.1 60610 Chicago 44,883 $2,905 $395,014
4.2 60642 Chicago 21,789 $2,712 $580,122
4.6 60637 Chicago 52,721 $1,757 $244,855
4.6 60623 Chicago 81,277 $1,581 $227,958
4.8 60621 Chicago 28,301 $1,625 $128,484
4.9 60622 Chicago 54,609 $2,534 $660,406
5.0 60632 Chicago 89,107 $1,551 $288,846
5.2 60636 Chicago 32,198 $1,447 $142,506
5.5 60614 Chicago 70,693 $2,869 $682,500
5.5 60624 Chicago 35,263 $1,662 $229,782
6.5 60647 Chicago 84,749 $2,335 $583,612
6.5 60629 Chicago 108,324 $1,404 $273,942
6.7 60657 Chicago 71,904 $2,480 $546,908
6.8 60804 Cicero 82,797 $1,330 $278,158
6.8 60649 Chicago 48,056 $1,281 $143,026

Coordinates and population from SimpleMaps US Zips (Basic). Rent and home values from Zillow Research.