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Housing market/Illinois/ZIP 60605

ACS 2023 · FY2027 SAFMR

ZIP 60605 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
34,256
Households
18,822
Median HH income
$118,403
Renter share
59.4%
Median gross rent
$2,402
Vacancy
8.1%
Pop. change
+24.5%
2BR SAFMR
$3,020
SAFMR / rent
1.257×
2–49 unit stock
2,278
LIHTC proj / units
5 / 655
HUD assisted MF
2 / 476

ZIP brief

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HUD schedule, ACS stock, and the 90–110% band for ZIP 60605 · IL — sent to you.

ZIP 60605 · IL

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ACS rent vs 2BR SAFMR

ZIP 60605 — Chicago, IL HUD Section 8 Payment Standards / SAFMR →
ACS median rent$2,402
2BR SAFMR$3,020
90% floor$2,718
110% ceiling$3,322

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

Housing stock

ACS 2023 units-in-structure · ZCTA 60605

  • 1-unit detached5082.5%
  • 1-unit attached1,1225.5%
  • 2–4 units1080.5%
  • 5–49 units2,17010.6%
  • 50+ units16,53080.7%
  • Mobile400.2%
TypeUnitsShare
1-unit detached5082.5%
1-unit attached1,1225.5%
2 units (duplex)380.2%
3–4 units700.3%
5–9 units5322.6%
10–19 units920.4%
20–49 units1,5467.5%
50+ units16,53080.7%
Mobile400.2%

2–4 unit share 0.5% · 5–49 unit share 10.6% · combined 2–49 11.1%.

Units by bedrooms

Studio
2,884
1BR
7,914
2BR
7,144
3BR
2,167
4BR
152
5+
217

Rent burden

Rent ≥30% of income40.4%
Rent ≥50% of income17.7%
  • ACS median gross rent $2,402 (all bedrooms, occupied rentals).
  • Median contract rent $2,276.
  • Renters paying ≥30% of income 40.4%; ≥50% 17.7%.
  • FY2027 2BR SAFMR $3,020 (1.257× ACS median gross rent).

Population

34,256 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: +24.5%.

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

Assisted inventory

  • LIHTC: 5 projects, 655 units.
  • HUD project-based assisted MF: 2 properties, 476 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 60605 59.4% of occupied households are renters; vacancy is 8.1%; ACS median gross rent is $2,402; population increased +24.5% between the 2018 and 2023 ACS vintages; the housing stock includes 108 units in 2–4-unit structures and 2,170 units in 5–49-unit structures; 5 LIHTC projects totaling 655 units; FY2027 2BR SAFMR is $3,020 versus ACS median gross rent of $2,402. 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 60605 is a Census / HUD profile for Chicago-Joliet-Naperville, IL. Not a listing page. Brokerage is Georgia; out-of-state work is referral.

ZIP 60605 — 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 60605?

ZIP 60605 (Chicago-Joliet-Naperville, IL HUD Metro FMR Area) has 34,256 residents, 18,822 households, a renter share of 59.4%, median household income of $118,403, and ACS 2023 median gross rent of $2,402. Vacancy is 8.1%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 60605?

ACS counts 38 units in 2-unit buildings, 70 in 3–4 unit buildings, 532 in 5–9, 92 in 10–19, and 1,546 in 20–49. Combined 2–49 unit stock is 2,278 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 60605?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $3,020. See the full schedule and 90–110% payment-standard band on the ZIP 60605 — Chicago, IL HUD Section 8 Payment Standards / SAFMR.

Does this Illinois ZIP profile include Georgia listings?

No. ZIP 60605 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.