ZIP Code · IL

ZIP 61550

Part of Morton, IL

Pop. 18,792·Tazewell County·165th most expensive ZIP in Illinois

Median rent (all units)

$1,500/mo

Year-over-Year

Stable

Month-over-Month

+31.6%

vs US Median

-$432

Reported rents

Rising (Monthly)

Be the first to discuss 61550 rents ↓

Most AffordableMost Expensive

ZIP 61550 · $1,500

More affordable than 73% of US ZIP codes · National median $1,932/mo

Rent check

Is your rent fair?

Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$830

1 BR

$900

2 BR

$1,140

3 BR

$1,480

4 BR+

$1,590

Research median

$1,140/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

Loading…

Last updated: September 25, 2026

From the history

What the numbers show

What a typical income covers

30% of the median household income ($98,516) is $2,463 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($1,590).

Cheaper nearby

ZIP 61571, 7 miles away, rents for 15% less ($1,269/mo), about $2,800 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 61550. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$18,000/yr

At $1,500/mo median

Location

CityMorton

StateIL

CountyTazewell County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+0.0% YoY, +31.6% MoM), not inventory.

Demographics

Who lives here

ZIP 61550 (Morton, IL) is majority owner-occupied, has a large retiree population, has a median income above the national average, 43% of residents hold a bachelor's degree or higher.

Population

18,792

Median income

$98,516

Median age

42.4

Renters

18.7%

Age distribution

24.8%

14.2%

26.4%

23.9%

Under 1824.8%

18–3414.2%

35–5426.4%

55–6410.6%

65+23.9%

Gender

46.5%

53.5%

Male46.5%

Female53.5%

Race & ethnicity

93%

White93%

Black0.5%

Hispanic1.8%

Asian2%

Other2.8%

Education (25+)

23.9%

30.7%

43%

No HS diploma2.3%

HS diploma23.9%

Some college30.7%

Bachelor's+43%

Housing tenure

81.3%

18.7%

Owner81.3%

Renter18.7%

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

2021 vs 2026

How ZIP 61550 in Morton, IL has changed in 5 years

Income

$86,232 → $98,516

up 14.2%

Population

18,223 → 18,792

up 3.1%

Renter share

20.5% → 18.7%

-1.8 pts

Bachelor's+

40.4% → 43%

+2.6 pts

Median age

43 → 42.4

-0.6 yrs

On the earnings side, the typical household in ZIP 61550 in Morton, IL now reports about $98,516, up from $86,232 in 2021. Census counts show ZIP 61550 in Morton, IL adding about 569 residents over the five-year window, up 3.1% on net. The renter share has eased from 20.5% to 18.7%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 40.4% to 43% across the same window.

Community

Discussions about ZIP 61550

No discussions yet. Start the conversation.

Local insights

Tips for renters in ZIP 61550

About renting in ZIP 61550

Last updated: September 25, 2026

ZIP code 61550 covers Morton, IL. The median rent here is $1,500/mo as of September 2026. A 1-bedroom rents for a median of $900/mo. A 2-bedroom rents for a median of $1,140/mo.

At 18% of local median household income ($98,516/yr), ZIP 61550 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 61550?

To keep rent at or below 30% of gross income, you would need to earn at least $60,000/year (about $29/hour full-time) to afford the median rent of $1,500/mo in ZIP 61550. The local median household income is $98,516/yr, so the typical household meets that bar.