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ZIP Code · IL

ZIP 60120

Part of Elgin, IL
Pop. 51,225·Cook County·149th most expensive ZIP in Illinois
Median rent (all units)
$1,622/mo
Year-over-Year
+1.6%
Month-over-Month
+0.3%
vs US Median
-$343
Stable (Monthly)
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Most AffordableMost Expensive
ZIP 60120 · $1,622
More affordable than 65% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,360
1 BR
$1,460
2 BR
$1,640
3 BR
$2,110
4 BR+
$2,440
Research median
$1,640/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
$19,464/yr
At $1,622/mo median
Location
CityElgin
StateIL
CountyCook County
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (1.6% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+1.6% YoY, +0.3% MoM), not inventory.
Demographics

Who lives here

ZIP 60120 (Elgin, IL) is majority owner-occupied, has a large share of families with children, 20.5% of residents hold a bachelor's degree or higher.

Population
51,225
Median income
$82,449
Median age
34.5
Renters
34.3%
Age distribution
27.2%
23.5%
27.2%
Under 1827.2%
18–3423.5%
35–5427.2%
55–6411.8%
65+10.3%
Gender
52.4%
47.6%
Male52.4%
Female47.6%
Race & ethnicity
30.7%
61.6%
White30.7%
Black4.8%
Hispanic61.6%
Asian5.2%
Education (25+)
27.4%
26.7%
25.3%
20.5%
No HS diploma27.4%
HS diploma26.7%
Some college25.3%
Bachelor's+20.5%
Housing tenure
65.7%
34.3%
Owner65.7%
Renter34.3%

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

2021 vs 2026

How ZIP 60120 in Elgin, IL has changed in 5 years

Income
$74,287 → $82,449
up 11.0%
Population
51,024 → 51,225
up 0.4%
Renter share
34.5% → 34.3%
-0.2 pts
Bachelor's+
20% → 20.5%
+0.5 pts
Median age
33 → 34.5
+1.5 yrs

Median household income climbed from $74,287 to $82,449 between 2021 and 2024, a 11.0% shift.

Community

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Local insights

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About renting in ZIP 60120

Last updated: July 20, 2026

ZIP code 60120 covers Elgin, IL. The median rent here is $1,622/mo as of July 2026. A 1-bedroom rents for a median of $1,460/mo. A 2-bedroom rents for a median of $1,640/mo.

At 24% of local median household income ($82,449/yr), ZIP 60120 ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.6% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 60120?

As of July 20, 2026, the median monthly rent in ZIP 60120 (Elgin, IL) is $1,622. This is based on aggregated data from public sources and community submissions.

How does ZIP 60120 rent compare to the US average?

ZIP 60120's median rent of $1,622/mo is $343 (17%) below the US national median of $1,965/mo.

How does ZIP 60120 compare to other ZIPs in Illinois?

ZIP 60120 falls in the middle range for Illinois, ranking #149 out of 230 ZIPs at $1,622/mo.

How much income do you need to rent in ZIP 60120?

To keep rent at or below 30% of gross income, you would need to earn at least $65,000/year (~$31/hour full-time) to afford the median rent of $1,622/mo in ZIP 60120. The local median household income is $82,449/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 60120?

Rent in ZIP 60120 has increased 1.6% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 60120 an affordable place to rent?

ZIP 60120 is considered very affordable for renters. At $1,622/mo, rent takes approximately 24% of the local median household income ($82,449/yr). The standard benchmark is 30%. ZIP 60120 falls comfortably within that range.

What percentage of ZIP 60120 residents rent vs. own?

According to Census data, approximately 34.3% of ZIP 60120 households are renters, while 65.7% are owner-occupied. ZIP 60120 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 60120 compare to the rest of Elgin?

ZIP 60120 is more affordable than Elgin overall. At $1,622/mo, it's $287 below the Elgin citywide median of $1,909/mo.

When was rent data for ZIP 60120 last updated?

Rent data for ZIP 60120 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
24%
VERY AFFORDABLE

At $1,622/mo, rent takes ~24% of ZIP 60120's median household income ($82,449/yr). The standard benchmark is 30%.

ZIP 60120 24%Benchmark 30%
State income tax4.95%
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Schools nearby

Public schools near ZIP 60120 (Elgin, IL)

Recent submissions

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