The housing market in 60616 Chicago, IL is experiencing a slower rate of growth compared to the US as a whole. The median value of housing in 60616 is $336,700, which is slightly lower than the national median of $338,100. Although the appreciation rate for the past year in 60616 was 6.13%, this still lags behind the national average of 8.27%. Despite this slower rate of growth, some areas within 60616 may experience higher appreciation rates due to its proximity to downtown Chicago and other desirable amenities such as public transportation and shopping centers.
The median home cost in Chicago (zip 60616) is $336,700. Home appreciation the last 10 years has been 66.0%. Home Appreciation in Chicago (zip 60616) is up 10.1%.
Average Age of Homes
- The median age of Chicago (zip 60616) real estate is 50 years old
The Rental Market in Chicago (zip 60616)
- Renters make up 56.5% of the Chicago (zip 60616) population
- 2.7% of houses and apartments in Chicago (zip 60616), are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.