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ZIP Code · IL

ZIP 60040

Part of Highwood, IL
Pop. 5,301·Lake County·61st most expensive ZIP in Illinois
Median rent (all units)
$2,332/mo
Year-over-Year
Stable
Month-over-Month
+4.2%
vs US Median
+$367
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 60040 · $2,332
More expensive than 74% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,860
1 BR
$1,990
2 BR
$2,240
3 BR
$2,880
4 BR+
$3,340
Research median
$2,240/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$27,984/yr
At $2,332/mo median
Location
StateIL
CountyLake County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+0.0% YoY, +4.2% MoM), not inventory.
Demographics

Who lives here

ZIP 60040 (Highwood, IL) is majority owner-occupied, has a large retiree population, has a median income above the national average, 39.1% of residents hold a bachelor's degree or higher.

Population
5,301
Median income
$107,875
Median age
41
Renters
44%
Age distribution
21.7%
20.1%
23%
13.6%
21.5%
Under 1821.7%
18–3420.1%
35–5423%
55–6413.6%
65+21.5%
Gender
53.2%
46.8%
Male53.2%
Female46.8%
Race & ethnicity
61.6%
36.6%
White61.6%
Black1.2%
Hispanic36.6%
Asian2.1%
Education (25+)
19.4%
20.2%
21.2%
39.1%
No HS diploma19.4%
HS diploma20.2%
Some college21.2%
Bachelor's+39.1%
Housing tenure
56%
44%
Owner56%
Renter44%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 60040 in Highwood, IL has changed in 5 years

Income
$88,913 → $107,875
up 21.3%
Population
5,204 → 5,301
up 1.9%
Renter share
54.9% → 44%
-10.9 pts
Bachelor's+
41.8% → 39.1%
-2.7 pts
Median age
36.1 → 41
+4.9 yrs

On the earnings side, the typical household in ZIP 60040 in Highwood, IL now reports about $107,875, up from $88,913 in 2021. Headcount in the area went from 5,204 to 5,301 between 2021 and 2024, a 1.9% change. About 44% of households rent today, against 54.9% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher slipped from 41.8% to 39.1%.

Community

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Local insights

Tips for renters in ZIP 60040

About renting in ZIP 60040

Last updated: July 20, 2026

ZIP code 60040 covers Highwood, IL. The median rent here is $2,332/mo as of July 2026. A 1-bedroom rents for a median of $1,990/mo. A 2-bedroom rents for a median of $2,240/mo.

At 26% of local median household income ($107,875/yr), ZIP 60040 ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 60040?

As of July 20, 2026, the median monthly rent in ZIP 60040 (Highwood, IL) is $2,332. This is based on aggregated data from public sources and community submissions.

How does ZIP 60040 rent compare to the US average?

ZIP 60040's median rent of $2,332/mo is $367 (19%) above the US national median of $1,965/mo.

How does ZIP 60040 compare to other ZIPs in Illinois?

ZIP 60040 is one of the pricier ZIP codes in Illinois, ranking #61 out of 230 ZIPs tracked at $2,332/mo.

How much income do you need to rent in ZIP 60040?

To keep rent at or below 30% of gross income, you would need to earn at least $93,000/year (~$45/hour full-time) to afford the median rent of $2,332/mo in ZIP 60040. The local median household income is $107,875/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 60040?

Rent in ZIP 60040 has been relatively stable over the past year, with a 0.0% change year over year as of July 20, 2026.

Is ZIP 60040 an affordable place to rent?

ZIP 60040 is considered affordable for renters. At $2,332/mo, rent takes approximately 26% of the local median household income ($107,875/yr). The standard benchmark is 30%. ZIP 60040 falls comfortably within that range.

What percentage of ZIP 60040 residents rent vs. own?

According to Census data, approximately 44% of ZIP 60040 households are renters, while 56% are owner-occupied. ZIP 60040 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 60040 compare to the rest of Highwood?

ZIP 60040 sits right at the Highwood citywide median of $2,332/mo.

When was rent data for ZIP 60040 last updated?

Rent data for ZIP 60040 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
26%
AFFORDABLE

At $2,332/mo, rent takes ~26% of ZIP 60040's median household income ($107,875/yr). The standard benchmark is 30%.

ZIP 60040 26%Benchmark 30%
State income tax4.95%
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Schools nearby

Public schools near ZIP 60040 (Highwood, IL)

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