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ZIP Code · IL

ZIP 60623

Part of Chicago, IL
Pop. 81,277·Cook County·153rd most expensive ZIP in Illinois
Median rent (all units)
$1,577/mo
Year-over-Year
+11.9%
Month-over-Month
+1.7%
vs US Median
-$388
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 60623 · $1,577
More affordable than 68% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,100
1 BR
$1,170
2 BR
$1,320
3 BR
$1,700
4 BR+
$1,970
Research median
$1,320/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
$18,924/yr
At $1,577/mo median
Location
StateIL
CountyCook County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 11.9% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+11.9% YoY, +1.7% MoM), not inventory.
Demographics

Who lives here

ZIP 60623 (Chicago, IL) is majority renter-occupied, has a median income below the national average, 15.7% of residents hold a bachelor's degree or higher.

Population
81,277
Median income
$51,878
Median age
35.7
Renters
57.8%
Age distribution
24.5%
24.9%
26.8%
13.4%
Under 1824.5%
18–3424.9%
35–5426.8%
55–6410.4%
65+13.4%
Gender
46.8%
53.2%
Male46.8%
Female53.2%
Race & ethnicity
29%
65.3%
White10.1%
Black29%
Hispanic65.3%
Asian0.9%
Education (25+)
29.5%
33%
21.8%
15.7%
No HS diploma29.5%
HS diploma33%
Some college21.8%
Bachelor's+15.7%
Housing tenure
42.2%
57.8%
Owner42.2%
Renter57.8%

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

2021 vs 2026

How ZIP 60623 in Chicago, IL has changed in 5 years

Rent
$1,033 → $1,577
up 52.7%
Income
$35,890 → $51,878
up 44.5%
Population
77,352 → 81,277
up 5.1%
Renter share
63.3% → 57.8%
-5.5 pts
Bachelor's+
12.8% → 15.7%
+2.9 pts
Median age
33.3 → 35.7
+2.4 yrs

Compared with 2021, rent in ZIP 60623 in Chicago, IL has increased by $544 per month, settling near $1,577 after starting the period at $1,033. Household income in the area moved from $35,890 to $51,878 across the same window, up 44.5% versus 2021. Rent outpaced income growth by roughly 8.2 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 77,352 to 81,277 between 2021 and 2024, a 5.1% change. About 57.8% of households rent today, against 63.3% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 12.8% to 15.7%. Reading these numbers side by side helps frame whether current listings in ZIP 60623 in Chicago, IL look reasonable against where the market sat half a decade ago.

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Local insights

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About renting in ZIP 60623

Last updated: July 20, 2026

ZIP code 60623 covers Chicago, IL. The median rent here is $1,577/mo as of July 2026. A 1-bedroom rents for a median of $1,170/mo. A 2-bedroom rents for a median of $1,320/mo.

At 36% of local median household income ($51,878/yr), ZIP 60623 ranks as moderate compared to the national benchmark of 30%. Rents have increased 11.9% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 60623?

As of July 20, 2026, the median monthly rent in ZIP 60623 (Chicago, IL) is $1,577. This is based on aggregated data from public sources and community submissions.

How does ZIP 60623 rent compare to the US average?

ZIP 60623's median rent of $1,577/mo is $388 (20%) below the US national median of $1,965/mo.

How does ZIP 60623 compare to other ZIPs in Illinois?

ZIP 60623 falls in the middle range for Illinois, ranking #153 out of 230 ZIPs at $1,577/mo.

How much income do you need to rent in ZIP 60623?

To keep rent at or below 30% of gross income, you would need to earn at least $63,000/year (~$30/hour full-time) to afford the median rent of $1,577/mo in ZIP 60623. The local median household income is $51,878/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 60623?

Rent in ZIP 60623 has increased 11.9% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 60623 an affordable place to rent?

ZIP 60623 is considered moderate for renters. At $1,577/mo, rent takes approximately 36% of the local median household income ($51,878/yr). The standard benchmark is 30%. ZIP 60623 slightly exceeds that threshold, so budgeting carefully matters here.

What percentage of ZIP 60623 residents rent vs. own?

According to Census data, approximately 57.8% of ZIP 60623 households are renters, while 42.2% are owner-occupied. With a majority renter population, ZIP 60623 has a strong rental market.

How does ZIP 60623 compare to the rest of Chicago?

ZIP 60623 is more affordable than Chicago overall. At $1,577/mo, it's $832 below the Chicago citywide median of $2,409/mo.

When was rent data for ZIP 60623 last updated?

Rent data for ZIP 60623 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
36%
MODERATE

At $1,577/mo, rent takes ~36% of ZIP 60623's median household income ($51,878/yr). The standard benchmark is 30%.

ZIP 60623 36%Benchmark 30%
State income tax4.95%
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Schools nearby

Public schools near ZIP 60623 (Chicago, IL)

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