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ZIP Code · IL

ZIP 62040

Pop. 40,404·Madison County·212th most expensive ZIP in Illinois
Median rent (all units)
$1,106/mo
Year-over-Year
+1.2%
Month-over-Month
-2.3%
vs US Median
-$859
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 62040 · $1,106
More affordable than 95% of US ZIP codes · National median $1,965/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: July 20, 2026

Annual cost
$13,272/yr
At $1,106/mo median
Location
StateIL
CountyMadison County
Rent Market Meter
Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are softening (up only 1.2% YoY), so renters have negotiating leverage.
Based on rent-price momentum (+1.2% YoY, -2.3% 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%
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: July 20, 2026

ZIP code 62040 covers Granite City, IL. The median rent here is $1,106/mo as of July 2026. A 1-bedroom rents for a median of $850/mo. A 2-bedroom rents for a median of $1,040/mo.

At 22% of local median household income ($60,031/yr), ZIP 62040 ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.2% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 62040?

As of July 20, 2026, the median monthly rent in ZIP 62040 (Granite City, IL) is $1,106. This is based on aggregated data from public sources and community submissions.

How does ZIP 62040 rent compare to the US average?

ZIP 62040's median rent of $1,106/mo is $859 (44%) below the US national median of $1,965/mo.

How does ZIP 62040 compare to other ZIPs in Illinois?

ZIP 62040 is among the more affordable ZIP codes in Illinois, ranking #212 out of 230 ZIPs at $1,106/mo.

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 $44,000/year (~$21/hour full-time) to afford the median rent of $1,106/mo in ZIP 62040. The local median household income is $60,031/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 62040?

Rent in ZIP 62040 has increased 1.2% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 62040 an affordable place to rent?

ZIP 62040 is considered very affordable for renters. At $1,106/mo, rent takes approximately 22% of the local median household income ($60,031/yr). The standard benchmark is 30%. ZIP 62040 falls comfortably within that range.

What percentage of ZIP 62040 residents rent vs. own?

According to Census data, approximately 25% of ZIP 62040 households are renters, while 75% are owner-occupied. ZIP 62040 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 62040 compare to the rest of Granite City?

ZIP 62040 is pricier than Granite City as a whole. At $1,106/mo, it's $93 above the Granite City citywide median of $1,013/mo.

When was rent data for ZIP 62040 last updated?

Rent data for ZIP 62040 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
22%
VERY AFFORDABLE

At $1,106/mo, rent takes ~22% of ZIP 62040's median household income ($60,031/yr). The standard benchmark is 30%.

ZIP 62040 22%Benchmark 30%
State income tax4.95%
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Schools nearby

Public schools near ZIP 62040 (Granite City, IL)

Recent submissions

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