ZIP Code · IL

ZIP 62040

Part of Granite City, IL

Pop. 40,404·Madison County·204th most expensive ZIP in Illinois

Median rent (all units)

$1,162/mo

Year-over-Year

+0.2%

Month-over-Month

+1.6%

vs US Median

-$770

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 62040 · $1,162

More affordable than 93% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$820

1 BR

$850

2 BR

$1,040

3 BR

$1,340

4 BR+

$1,550

Research median

$1,040/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

Past year vs. the rest of Illinois

Rent in ZIP 62040 changed +0.2% 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 6 of the last 12 months.

What a typical income covers

30% of the median household income ($60,031) is $1,501 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($1,340); a 4-bedroom is $1,550.

Cheaper nearby

ZIP 63115, 8 miles away, rents for 18% less ($952/mo), about $2,500 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 62040. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$13,944/yr

At $1,162/mo median

Location

CityGranite City

StateIL

CountyMadison County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (0.2% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+0.2% YoY, +1.6% MoM), not inventory.

Demographics

Who lives here

ZIP 62040 (Granite City, IL) is majority owner-occupied, has a median income below the national average, 15.7% of residents hold a bachelor's degree or higher.

Population

40,404

Median income

$60,031

Median age

39.8

Renters

25%

Age distribution

22.8%

19.2%

26%

13.5%

18.5%

Under 1822.8%

18–3419.2%

35–5426%

55–6413.5%

65+18.5%

Gender

51%

49%

Male51%

Female49%

Race & ethnicity

77.5%

White77.5%

Black8.6%

Hispanic10.6%

Asian0.9%

Other2.4%

Education (25+)

37.2%

15.7%

No HS diploma9.8%

HS diploma37.2%

Some college37.2%

Bachelor's+15.7%

Housing tenure

75%

25%

Owner75%

Renter25%

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

2021 vs 2026

How ZIP 62040 in Granite City, IL has changed in 5 years

Income

$53,449 → $60,031

up 12.3%

Population

40,912 → 40,404

down 1.2%

Renter share

30.1% → 25%

-5.1 pts

Bachelor's+

14.2% → 15.7%

+1.5 pts

Median age

39.1 → 39.8

+0.7 yrs

Local incomes tracked alongside that move, going from a median of $53,449 in 2021 to $60,031 more recently. The population has contracted by 1.2% since 2021, moving from about 40,912 residents to roughly 40,404. Renters now make up 25% of households, compared with 30.1% five years ago.

Community

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Local insights

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About renting in ZIP 62040

Last updated: October 17, 2026

ZIP code 62040 covers Granite City, IL. The median rent here is $1,162/mo as of October 2026. A 1-bedroom rents for a median of $850/mo. A 2-bedroom rents for a median of $1,040/mo.

At 23% of local median household income ($60,031/yr), ZIP 62040 ranks as affordable compared to the national benchmark of 30%. Rents have increased 0.2% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 62040?

To keep rent at or below 30% of gross income, you would need to earn at least $46,000/year (about $22/hour full-time) to afford the median rent of $1,162/mo in ZIP 62040. The local median household income is $60,031/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 62040?

Rent in ZIP 62040 has been roughly flat over the past year, a +0.2% change.

How does ZIP 62040 compare to other ZIPs in Illinois?

ZIP 62040 is one of the more affordable among Illinois ZIP codes for rent, ranking #204 of 227 at $1,162/mo. Over the year to September 2026, rent in ZIP 62040 changed +0.2%, against a typical +4.7% across the 172 Illinois ZIP codes Zillow tracks.