ZIP Code · IL

ZIP 60623

Part of Chicago, IL

Pop. 81,277·Cook County·153rd most expensive ZIP in Illinois

Median rent (all units)

$1,581/mo

Year-over-Year

+4.6%

Month-over-Month

-0.4%

vs US Median

-$351

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 60623 · $1,581

More affordable than 67% of US ZIP codes · National median $1,932/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: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

December. Asking rents in ZIP 60623 usually run 1.5% below trend in December and 1.1% above it in September, about $41 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 60623 is 0.4% below its high of $1,588 in August 2026, at $1,581 as of September 2026.

Past year vs. the rest of Illinois

Rent in ZIP 60623 changed +4.6% over the year to September 2026. Across the 172 Illinois ZIP codes Zillow tracks, the typical change was +4.7%.

Recent direction

Rent rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($51,878) is $1,297 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,170); a 2-bedroom is $1,320.

Rank in Chicago

10th cheapest of 51 ZIP codes in Chicago.

Cheaper nearby

ZIP 60804, 2 miles away, rents for 16% less ($1,330/mo), about $3,000 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 60623. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$18,972/yr

At $1,581/mo median

Location

CityChicago

StateIL

CountyCook County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (4.6% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+4.6% YoY, -0.4% 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

$1,094 → $1,581

up 44.5%

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 $487 per month, settling near $1,581 after starting the period at $1,094. Household income in the area moved from $35,890 to $51,878 across the same window, up 44.5% versus 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.

Community

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Local insights

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About renting in ZIP 60623

Last updated: October 17, 2026

ZIP code 60623 covers Chicago, IL. The median rent here is $1,581/mo as of October 2026. A 1-bedroom rents for a median of $1,170/mo. A 2-bedroom rents for a median of $1,320/mo.

At 37% of local median household income ($51,878/yr), ZIP 60623 ranks as moderate compared to the national benchmark of 30%. Rents have increased 4.6% over the past year.

FAQ

Frequently asked questions

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 (about $30/hour full-time) to afford the median rent of $1,581/mo in ZIP 60623. The local median household income is $51,878/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 60623?

Rent in ZIP 60623 has risen 4.6% over the past year as of September 2026. It sits 0.4% below its high of $1,588 in August 2026.

When is the cheapest time to rent in ZIP 60623?

Asking rents in ZIP 60623 are usually lowest in December, about 1.5% below their yearly trend, and highest in September, about 1.1% above it. At today's median that is a gap of roughly $41 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 60623 compare to other ZIPs in Illinois?

ZIP 60623 is one of the more affordable among Illinois ZIP codes for rent, ranking #153 of 227 at $1,581/mo. Over the year to September 2026, rent in ZIP 60623 changed +4.6%, against a typical +4.7% across the 172 Illinois ZIP codes Zillow tracks.