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Housing market/Illinois/ZIP 60487

ACS 2023 · FY2027 SAFMR

ZIP 60487 Tinley Park, 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
25,881
Households
9,119
Median HH income
$137,426
Renter share
7.1%
Median gross rent
$1,428
Vacancy
1.9%
Pop. change
-2.7%
2BR SAFMR
$1,970
SAFMR / rent
1.380×
2–49 unit stock
830
LIHTC proj / units
1 / 176
HUD assisted MF
1 / 176

ZIP brief

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HUD schedule, ACS stock, and the 90–110% band for ZIP 60487 · IL — sent to you.

ZIP 60487 · IL

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ACS rent vs 2BR SAFMR

ZIP 60487 — Tinley Park, IL HUD Section 8 Payment Standards / SAFMR →
ACS median rent$1,428
2BR SAFMR$1,970
90% floor$1,773
110% ceiling$2,167

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

Housing stock

ACS 2023 units-in-structure · ZCTA 60487

  • 1-unit detached6,55170.5%
  • 1-unit attached1,87920.2%
  • 2–4 units2072.2%
  • 5–49 units6236.7%
  • 50+ units330.4%
TypeUnitsShare
1-unit detached6,55170.5%
1-unit attached1,87920.2%
2 units (duplex)00.0%
3–4 units2072.2%
5–9 units2562.8%
10–19 units3413.7%
20–49 units260.3%
50+ units330.4%
Mobile00.0%

2–4 unit share 2.2% · 5–49 unit share 6.7% · combined 2–49 8.9%.

Units by bedrooms

Studio
0
1BR
202
2BR
1,862
3BR
4,318
4BR
2,318
5+
593

Rent burden

Rent ≥30% of income40.4%
Rent ≥50% of income14.1%
  • ACS median gross rent $1,428 (all bedrooms, occupied rentals).
  • Median contract rent $1,381.
  • Renters paying ≥30% of income 40.4%; ≥50% 14.1%.
  • FY2027 2BR SAFMR $1,970 (1.380× ACS median gross rent).

Population

25,881 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: -2.7%.

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

Assisted inventory

  • LIHTC: 1 projects, 176 units.
  • HUD project-based assisted MF: 1 properties, 176 assisted units.
  • HCV household counts (Picture of Subsidized Households) are not on this page yet.

New apartment permits

About 2,332 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 60487 7.1% of occupied households are renters; vacancy is 1.9%; ACS median gross rent is $1,428; population changed -2.7% between the 2018 and 2023 ACS vintages; the housing stock includes 207 units in 2–4-unit structures and 623 units in 5–49-unit structures; 1 LIHTC projects totaling 176 units; FY2027 2BR SAFMR is $1,970 versus ACS median gross rent of $1,428. 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 60487 is a Census / HUD profile for Chicago-Joliet-Naperville, IL. Not a listing page. Brokerage is Georgia; out-of-state work is referral.

ZIP 60487 — Tinley Park, 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 60487?

ZIP 60487 (Chicago-Joliet-Naperville, IL HUD Metro FMR Area) has 25,881 residents, 9,119 households, a renter share of 7.1%, median household income of $137,426, and ACS 2023 median gross rent of $1,428. Vacancy is 1.9%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 60487?

ACS counts 0 units in 2-unit buildings, 207 in 3–4 unit buildings, 256 in 5–9, 341 in 10–19, and 26 in 20–49. Combined 2–49 unit stock is 830 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 60487?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,970. See the full schedule and 90–110% payment-standard band on the ZIP 60487 — Tinley Park, IL HUD Section 8 Payment Standards / SAFMR.

Does this Illinois ZIP profile include Georgia listings?

No. ZIP 60487 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.