JeffCroweCRE

Housing market/Illinois/ZIP 60515

ACS 2023 · FY2027 SAFMR

ZIP 60515 Downers Grove, Illinois

Chicago-Joliet-Naperville, IL HUD Metro FMR Area · Illinois. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.

Population
29,045
Households
11,939
Median HH income
$121,358
Renter share
23.1%
Median gross rent
$1,563
Vacancy
4.0%
Pop. change
+1.7%
2BR SAFMR
$2,340
SAFMR / rent
1.497×
2–49 unit stock
2,168
LIHTC proj / units
2 / 433
HUD assisted MF
2 / 435

ZIP brief

Email this profile

HUD schedule, ACS stock, and the 90–110% band for ZIP 60515 · IL — sent to you.

ZIP 60515 · IL

By checking this box you agree that you may be referred to another real estate broker or related service and acknowledge that CENTURY 21 The Avenues licensees and/or affiliates may be paid a valuable consideration for facilitating such referral.

ACS rent vs 2BR SAFMR

ZIP 60515 — Downers Grove, IL HUD Section 8 Payment Standards / SAFMR →
ACS median rent$1,563
2BR SAFMR$2,340
90% floor$2,106
110% ceiling$2,574

ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.

Housing stock

ACS 2023 units-in-structure · ZCTA 60515

  • 1-unit detached7,99464.2%
  • 1-unit attached3813.1%
  • 2–4 units2331.9%
  • 5–49 units1,93515.6%
  • 50+ units1,87915.1%
  • Mobile210.2%
TypeUnitsShare
1-unit detached7,99464.2%
1-unit attached3813.1%
2 units (duplex)1471.2%
3–4 units860.7%
5–9 units2311.9%
10–19 units5304.3%
20–49 units1,1749.4%
50+ units1,87915.1%
Mobile210.2%

2–4 unit share 1.9% · 5–49 unit share 15.6% · combined 2–49 17.4%.

Units by bedrooms

Studio
454
1BR
1,758
2BR
2,544
3BR
3,654
4BR
2,861
5+
1,172

Rent burden

Rent ≥30% of income43.0%
Rent ≥50% of income24.2%
  • ACS median gross rent $1,563 (all bedrooms, occupied rentals).
  • Median contract rent $1,527.
  • Renters paying ≥30% of income 43.0%; ≥50% 24.2%.
  • FY2027 2BR SAFMR $2,340 (1.497× ACS median gross rent).

Population

29,045 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: +1.7%.

ACS 5-year estimates lag current construction. This is not a forecast.

Assisted inventory

  • LIHTC: 2 projects, 433 units.
  • HUD project-based assisted MF: 2 properties, 435 assisted units.
  • HCV household counts (Picture of Subsidized Households) are not on this page yet.

New apartment permits

About 411 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.

Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.

What the data shows

ZIP 60515 23.1% of occupied households are renters; vacancy is 4.0%; ACS median gross rent is $1,563; population increased +1.7% between the 2018 and 2023 ACS vintages; the housing stock includes 233 units in 2–4-unit structures and 1,935 units in 5–49-unit structures; 2 LIHTC projects totaling 433 units; FY2027 2BR SAFMR is $2,340 versus ACS median gross rent of $1,563. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.

Illinois research

ZIP 60515 is a Census / HUD profile for Chicago-Joliet-Naperville, IL. Not a listing page. Brokerage is Georgia; out-of-state work is referral.

ZIP 60515 — Downers Grove, IL HUD Section 8 Payment Standards / SAFMR·Illinois ZIP directory

Nearby ZIPs in this FMR area

ZIPPlaceRentersMed. rent2BR SAFMR
60002Chicago-Joliet-Naperville, IL HUD Metro FMR Area19.3%$1,176$1,65060004Chicago-Joliet-Naperville, IL HUD Metro FMR Area22.7%$1,703$2,47060005Chicago-Joliet-Naperville, IL HUD Metro FMR Area36.6%$1,621$2,20060006Chicago-Joliet-Naperville, IL HUD Metro FMR Area——$1,98060007Chicago-Joliet-Naperville, IL HUD Metro FMR Area26.0%$1,574$2,21060008Chicago-Joliet-Naperville, IL HUD Metro FMR Area27.5%$1,561$2,16060009Chicago-Joliet-Naperville, IL HUD Metro FMR Area——$1,98060010Chicago-Joliet-Naperville, IL HUD Metro FMR Area11.9%$2,459$3,02060011Chicago-Joliet-Naperville, IL HUD Metro FMR Area——$2,02060012Chicago-Joliet-Naperville, IL HUD Metro FMR Area5.4%$2,162$2,19060013Chicago-Joliet-Naperville, IL HUD Metro FMR Area11.6%$1,489$2,12060014Chicago-Joliet-Naperville, IL HUD Metro FMR Area19.4%$1,429$1,990

Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is Illinois research. Brokerage is Georgia.

FAQ

What is the housing market like in ZIP 60515?

ZIP 60515 (Chicago-Joliet-Naperville, IL HUD Metro FMR Area) has 29,045 residents, 11,939 households, a renter share of 23.1%, median household income of $121,358, and ACS 2023 median gross rent of $1,563. Vacancy is 4.0%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 60515?

ACS counts 147 units in 2-unit buildings, 86 in 3–4 unit buildings, 231 in 5–9, 530 in 10–19, and 1,174 in 20–49. Combined 2–49 unit stock is 2,168 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 60515?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $2,340. See the full schedule and 90–110% payment-standard band on the ZIP 60515 — Downers Grove, IL HUD Section 8 Payment Standards / SAFMR.

Does this Illinois ZIP profile include Georgia listings?

No. ZIP 60515 is Census / HUD research for Chicago-Joliet-Naperville, IL HUD Metro FMR Area. Jeff Crowe CRE does not list Illinois property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.