ZIP Code · IL

ZIP 60602

Part of Chicago, IL

Pop. 1,480·Cook County·37th most expensive ZIP in Illinois

Median rent (all units)

$2,438/mo

Year-over-Year

Stable

Month-over-Month

-5.3%

vs US Median

+$506

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 60602 · $2,438

More expensive than 78% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$2,220

1 BR

$2,370

2 BR

$2,670

3 BR

$3,440

4 BR+

$3,980

Research median

$2,670/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: October 17, 2026

From the history

What the numbers show

What a typical income covers

30% of the median household income ($126,202) is $3,155 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($2,670); a 3-bedroom is $3,440.

Rank in Chicago

39th cheapest of 51 ZIP codes in Chicago.

Cheaper nearby

ZIP 60616, 3 miles away, rents for 24% less ($1,857/mo), about $7,000 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 60602. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$29,256/yr

At $2,438/mo median

Location

CityChicago

StateIL

CountyCook County

Rent Market Meter

Strong Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are down 0.0% year-over-year. Push hard on price, concessions, and lease terms.

Based on rent-price momentum (+0.0% YoY, -5.3% MoM), not inventory.

Demographics

Who lives here

ZIP 60602 (Chicago, IL) is majority renter-occupied, skews toward younger working-age adults, has a median income above the national average, 63.8% of residents hold a bachelor's degree or higher.

Population

1,480

Median income

$126,202

Median age

Renters

62.8%

Age distribution

12.6%

66.6%

Under 1812.6%

18–3466.6%

35–5411.3%

55–644.4%

65+5.1%

Gender

44.2%

55.8%

Male44.2%

Female55.8%

Race & ethnicity

48.4%

32.8%

25.9%

White48.4%

Black1.9%

Hispanic32.8%

Asian25.9%

Education (25+)

16.4%

17.8%

63.8%

No HS diploma2%

HS diploma16.4%

Some college17.8%

Bachelor's+63.8%

Housing tenure

37.2%

62.8%

Owner37.2%

Renter62.8%

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

2021 vs 2026

How ZIP 60602 in Chicago, IL has changed in 5 years

Income

$235,666 → $126,202

down 46.4%

Population

1,142 → 1,480

up 29.6%

Renter share

34.3% → 62.8%

+28.5 pts

Bachelor's+

82.2% → 63.8%

-18.4 pts

Median age

33.4 → 28

-5.4 yrs

On the earnings side, the typical household in ZIP 60602 in Chicago, IL now reports about $126,202, up from $235,666 in 2021. Headcount in the area went from 1,142 to 1,480 between 2021 and 2024, a 29.6% change. About 62.8% of households rent today, against 34.3% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher slipped from 82.2% to 63.8%.

Community

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Local insights

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About renting in ZIP 60602

Last updated: October 17, 2026

ZIP code 60602 covers Chicago, IL. The median rent here is $2,438/mo as of October 2026. A 1-bedroom rents for a median of $2,370/mo. A 2-bedroom rents for a median of $2,670/mo.

At 23% of local median household income ($126,202/yr), ZIP 60602 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 income do you need to rent in ZIP 60602?

To keep rent at or below 30% of gross income, you would need to earn at least $98,000/year (about $47/hour full-time) to afford the median rent of $2,438/mo in ZIP 60602. The local median household income is $126,202/yr, so the typical household meets that bar.