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Housing market/Illinois/ZIP 60620

ACS 2023 · FY2027 SAFMR

ZIP 60620 Chicago, 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
66,511
Households
25,896
Median HH income
$48,805
Renter share
50.2%
Median gross rent
$1,093
Vacancy
13.7%
Pop. change
-2.3%
2BR SAFMR
$1,640
SAFMR / rent
1.500×
2–49 unit stock
14,056
LIHTC proj / units
15 / 1,465
HUD assisted MF
8 / 724

ZIP brief

Email this profile

HUD schedule, ACS stock, and the 90–110% band for ZIP 60620 · IL — sent to you.

ZIP 60620 · IL

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ACS rent vs 2BR SAFMR

ZIP 60620 — Chicago, IL HUD Section 8 Payment Standards / SAFMR →
ACS median rent$1,093
2BR SAFMR$1,640
90% floor$1,476
110% ceiling$1,804

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

Housing stock

ACS 2023 units-in-structure · ZCTA 60620

  • 1-unit detached13,31044.4%
  • 1-unit attached1,5265.1%
  • 2–4 units8,95029.8%
  • 5–49 units5,10617.0%
  • 50+ units1,0603.5%
  • Mobile560.2%
TypeUnitsShare
1-unit detached13,31044.4%
1-unit attached1,5265.1%
2 units (duplex)4,89116.3%
3–4 units4,05913.5%
5–9 units2,9379.8%
10–19 units1,1163.7%
20–49 units1,0533.5%
50+ units1,0603.5%
Mobile560.2%

2–4 unit share 29.8% · 5–49 unit share 17.0% · combined 2–49 46.8%.

Units by bedrooms

Studio
1,017
1BR
3,641
2BR
8,680
3BR
11,186
4BR
3,484
5+
2,000

Rent burden

Rent ≥30% of income52.0%
Rent ≥50% of income29.0%
  • ACS median gross rent $1,093 (all bedrooms, occupied rentals).
  • Median contract rent $913.
  • Renters paying ≥30% of income 52.0%; ≥50% 29.0%.
  • FY2027 2BR SAFMR $1,640 (1.500× ACS median gross rent).

Population

66,511 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: -2.3%.

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

Assisted inventory

  • LIHTC: 15 projects, 1,465 units.
  • HUD project-based assisted MF: 8 properties, 724 assisted units.
  • HCV household counts (Picture of Subsidized Households) are not on this page yet.

New apartment permits

About 3,088 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 60620 50.2% of occupied households are renters; vacancy is 13.7%; ACS median gross rent is $1,093; population changed -2.3% between the 2018 and 2023 ACS vintages; the housing stock includes 8,950 units in 2–4-unit structures and 5,106 units in 5–49-unit structures; 15 LIHTC projects totaling 1,465 units; FY2027 2BR SAFMR is $1,640 versus ACS median gross rent of $1,093. 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 60620 is a Census / HUD profile for Chicago-Joliet-Naperville, IL. Not a listing page. Brokerage is Georgia; out-of-state work is referral.

ZIP 60620 — Chicago, 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 60620?

ZIP 60620 (Chicago-Joliet-Naperville, IL HUD Metro FMR Area) has 66,511 residents, 25,896 households, a renter share of 50.2%, median household income of $48,805, and ACS 2023 median gross rent of $1,093. Vacancy is 13.7%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 60620?

ACS counts 4,891 units in 2-unit buildings, 4,059 in 3–4 unit buildings, 2,937 in 5–9, 1,116 in 10–19, and 1,053 in 20–49. Combined 2–49 unit stock is 14,056 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 60620?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,640. See the full schedule and 90–110% payment-standard band on the ZIP 60620 — Chicago, IL HUD Section 8 Payment Standards / SAFMR.

Does this Illinois ZIP profile include Georgia listings?

No. ZIP 60620 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.