Real Estate Investing in Chicago, Illinois (60620)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60620 (Chicago, IL)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 14.4% of homes vacant — above national norms.
- Flat appreciation: Values have barely moved over 5 years (0.9% CAGR).
- Higher unemployment: 9.9% unemployment — tenant risk signal.
What’s happening in Chicago, IL (60620)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60620 Chicago
The 60620 ZIP covers a section of Chicago that demands careful diligence. Prices near $182K look accessible, but the work to make a deal cash flow is real.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 60620 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Statewide comparisons place 60620 among IL's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
The demographic picture in 60620 includes headwinds that any investor should price in. Income distribution skews lower than Chicago averages, and tenant stability requires active management.
New investors are better served looking at Chicago's stable or hybrid ZIPs before stepping into 60620. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Chicago:
Property Strategy for 60620
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $136,422 | $1,450 | 7.7% | +7.1% | $68,211 |
| 3BR | $169,654 | $1,870 | 7.9% | +4.9% | $56,551 |
| 4BR | $216,297 | $2,160 | 7.2% | +5.3% | $54,074 |
| 5BR | $261,940 | — | — | +5.4% | $52,388 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60620 Compare?
| Metric | 60620 | Chicago | Illinois |
|---|---|---|---|
| Home Value | $181,930 | $345,093 | $279,761 |
| 5-Year CAGR | 0.9% | 2.6% | 6.6% |
| Avg Rent | $1,481 | $2,056 | - |
| Cap Rate | 6.4% | 5.1% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 60620 (Chicago, IL). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 60620 (Chicago, IL)?
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Property managers serving Cook County
Manage rentals here? List your business →American Property Management of Illinois, Inc. (Associa) provides comprehensive HOA and condominium management services in Chicago and surrounding areas. summary from their website
Blackhawk Realty Management, LLC provides professional property management and real estate services for its multifamily apartment portfolio, founded in 2004. summary from their website
Buckingham Property Management, Inc. offers apartment rentals and management services. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $181,930 |
| Monthly Rent | $1,481 |
| Price-to-Rent | 10.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.8% |
| Cap Rate | 6.4% |
| 5-Year IRR | 7.2% |
📈 Home Appreciation
| 1-Year | +5.3% ▲ |
| 3-Year CAGR | +3.9% ▲ |
| 5-Year CAGR | +0.9% ▲ |
| 10-Year CAGR | +6.5% ▲ |
🏠 Rent Trends
| 1-Year | +4.9% ▲ |
| 3-Year CAGR | +7.4% ▲ |
| 5-Year CAGR | +6.4% ▲ |
The current 30-yr mortgage rate (6.8%) is close to the estimated cap rate (6.4%). Financing this market at current rates produces a cash-on-cash return near the cap rate. Appreciation and tax benefits may still support the investment.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 60620
Population: 66,511
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 60620
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 3,953 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the typical home price in Chicago, IL?
Median home price in Chicago, IL is near $182K, with a 5-year CAGR of 0.0%. Prices have been stable and supportive of buy-and-hold strategies.
Is Chicago, IL better for rentals, flips, or BRRRR?
The best-fit strategy in Chicago, IL is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
How deep is the rental pool in Chicago, IL?
Chicago, IL draws a measured base of working renters. Demand at the $1,481/mo rent level is reasonable for standard single-family and small multi rentals.
Is Chicago, IL suited for a house hack?
House hacking in Chicago, IL is reasonable to execute. Prices around $182K and rents of $1,481/mo solid owner-occupant economics.
Are eviction rules reasonable in Chicago, IL?
Chicago, IL operates under IL law, which is landlord-friendly overall for landlords. Expect steady treatment in typical lease and eviction cases.
You know 60620 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 60620 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 60620 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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