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ZIP Code · IL

ZIP 60616

Part of Chicago, IL
Pop. 54,308·Cook County·110th most expensive ZIP in Illinois
Median rent (all units)
$1,922/mo
Year-over-Year
+9.8%
Month-over-Month
-0.7%
vs US Median
-$43
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 60616 · $1,922
More expensive than 56% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,640
1 BR
$1,750
2 BR
$1,970
3 BR
$2,540
4 BR+
$2,930
Research median
$1,970/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
$23,064/yr
At $1,922/mo median
Location
StateIL
CountyCook County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 9.8% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+9.8% YoY, -0.7% MoM), not inventory.
Demographics

Who lives here

ZIP 60616 (Chicago, IL) is majority renter-occupied, skews toward younger working-age adults, 50.8% of residents hold a bachelor's degree or higher.

Population
54,308
Median income
$73,819
Median age
37.9
Renters
60.5%
Age distribution
12.7%
31.4%
27.1%
12%
16.8%
Under 1812.7%
18–3431.4%
35–5427.1%
55–6412%
65+16.8%
Gender
50.2%
49.8%
Male50.2%
Female49.8%
Race & ethnicity
27.8%
25.5%
36.9%
White27.8%
Black25.5%
Hispanic9.6%
Asian36.9%
Education (25+)
13.7%
18.7%
16.9%
50.8%
No HS diploma13.7%
HS diploma18.7%
Some college16.9%
Bachelor's+50.8%
Housing tenure
39.5%
60.5%
Owner39.5%
Renter60.5%

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

2021 vs 2026

How ZIP 60616 in Chicago, IL has changed in 5 years

Rent
$1,418 → $1,922
up 35.5%
Income
$65,489 → $73,819
up 12.7%
Population
53,085 → 54,308
up 2.3%
Renter share
61.4% → 60.5%
-0.9 pts
Bachelor's+
49.9% → 50.8%
+0.9 pts

Since 2021, the typical rent in ZIP 60616 in Chicago, IL has climbed from $1,418 to $1,922, a 35.5% change over five years. Household income in the area moved from $65,489 to $73,819 across the same window, up 12.7% versus 2021. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 2.3% since 2021, moving from about 53,085 residents to roughly 54,308. Reading these numbers side by side helps frame whether current listings in ZIP 60616 in Chicago, IL look reasonable against where the market sat half a decade ago.

Community

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Local insights

Tips for renters in ZIP 60616

About renting in ZIP 60616

Last updated: July 20, 2026

ZIP code 60616 covers Chicago, IL. The median rent here is $1,922/mo as of July 2026. A 1-bedroom rents for a median of $1,750/mo. A 2-bedroom rents for a median of $1,970/mo.

At 31% of local median household income ($73,819/yr), ZIP 60616 ranks as moderate compared to the national benchmark of 30%. Rents have increased 9.8% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 60616?

As of July 20, 2026, the median monthly rent in ZIP 60616 (Chicago, IL) is $1,922. This is based on aggregated data from public sources and community submissions.

How does ZIP 60616 rent compare to the US average?

ZIP 60616's median rent of $1,922/mo is $43 (2%) below the US national median of $1,965/mo.

How does ZIP 60616 compare to other ZIPs in Illinois?

ZIP 60616 falls in the middle range for Illinois, ranking #110 out of 230 ZIPs at $1,922/mo.

How much income do you need to rent in ZIP 60616?

To keep rent at or below 30% of gross income, you would need to earn at least $77,000/year (~$37/hour full-time) to afford the median rent of $1,922/mo in ZIP 60616. The local median household income is $73,819/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 60616?

Rent in ZIP 60616 has increased 9.8% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 60616 an affordable place to rent?

ZIP 60616 is considered moderate for renters. At $1,922/mo, rent takes approximately 31% of the local median household income ($73,819/yr). The standard benchmark is 30%. ZIP 60616 slightly exceeds that threshold, so budgeting carefully matters here.

What percentage of ZIP 60616 residents rent vs. own?

According to Census data, approximately 60.5% of ZIP 60616 households are renters, while 39.5% are owner-occupied. With a majority renter population, ZIP 60616 has a strong rental market.

How does ZIP 60616 compare to the rest of Chicago?

ZIP 60616 is more affordable than Chicago overall. At $1,922/mo, it's $487 below the Chicago citywide median of $2,409/mo.

When was rent data for ZIP 60616 last updated?

Rent data for ZIP 60616 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
31%
MODERATE

At $1,922/mo, rent takes ~31% of ZIP 60616's median household income ($73,819/yr). The standard benchmark is 30%.

ZIP 60616 31%Benchmark 30%
State income tax4.95%
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Schools nearby

Public schools near ZIP 60616 (Chicago, IL)

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