Real Estate Investing in Chicago, Illinois (60622)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60622 (Chicago, IL)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Chicago, IL (60622)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60622 Chicago
Not every below-median market is a bargain. Chicago's 60622 ZIP stands at signals that favor experienced operators who can absorb the risk $664K pricing implies.
The investment case in 60622 is substantial only for operators who understand what they are buying. A $664K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
In the broader IL picture, 60622 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
A resilient renter share of 58% in 60622 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The 60622 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Chicago:
Property Strategy for 60622
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $313,026 | $2,190 | 5.0% | +1.9% | $313,026 |
| 2BR | $495,811 | $2,470 | 3.6% | +3.2% | $247,905 |
| 3BR | $714,762 | $3,180 | 3.2% | +3.6% | $238,254 |
| 4BR | $1,097,367 | $3,680 | 2.4% | +3.9% | $274,342 |
| 5BR | $1,617,287 | — | — | +4.8% | $323,457 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60622 Compare?
| Metric | 60622 | Chicago | Illinois |
|---|---|---|---|
| Home Value | $664,069 | $345,093 | $279,761 |
| 5-Year CAGR | 2.9% | 2.6% | 6.6% |
| Avg Rent | $2,560 | $2,056 | - |
| Cap Rate | 3.0% | 5.1% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 60622 (Chicago, IL). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 60622 (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 | $664,069 |
| Monthly Rent | $2,560 |
| Price-to-Rent | 21.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.6% |
| Cap Rate | 3.0% |
| 5-Year IRR | 5.9% |
📈 Home Appreciation
| 1-Year | +13.2% ▲ |
| 3-Year CAGR | +5.1% ▲ |
| 5-Year CAGR | +2.9% ▲ |
| 10-Year CAGR | +2.5% ▲ |
🏠 Rent Trends
| 1-Year | +7.7% ▲ |
| 3-Year CAGR | +6.1% ▲ |
| 5-Year CAGR | +6.6% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 60622
Population: 53,696
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 60622
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 5,794 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the renter demographic in Chicago, IL?
Chicago, IL draws a steady base of working renters. Demand at the $2,560/mo rent level is reasonable for standard single-family and small multi rentals.
Does Chicago, IL make sense for an investment property?
Chicago, IL rates 3.0/5 for investability. With median values at $664K and rents near $2,560/mo, the market offers reasonable fundamentals for rental investors.
How landlord-friendly is Chicago, IL?
Rental owners in Chicago, IL deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
What monthly rent should investors expect in Chicago, IL?
Investors in Chicago, IL typically see rents near $2,560/mo per month against $664K home values - a solid setup for rental cash flow.
Is housing expensive in Chicago, IL?
The median home value in Chicago, IL is roughly $664K. That puts it reasonable relative to the IL statewide average.
You know 60622 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 60622 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 60622 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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