Real Estate Investing in Chicago, Illinois (60624)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60624 (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: 17.2% of homes vacant — above national norms.
- Elevated poverty: 29.9% poverty rate — can affect rent collection.
- Higher unemployment: 10.1% unemployment — tenant risk signal.
- Lower household income: $31,768 median — tenant affordability is tighter.
What’s happening in Chicago, IL (60624)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60624 Chicago
Not every below-median market is a bargain. Chicago's 60624 ZIP shows signals that favor experienced operators who can absorb the risk $223K pricing implies.
The investment case in 60624 is significant only for operators who understand what they are buying. A $223K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Within IL, ZIP 60624 trails on several market indicators that neighboring Cook County submarkets outperform. The gap is real and robust enough to shape underwriting.
Stepping back, 35,711 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategy in 60624 is an operator game, not a passive one. From an investor standpoint, entry prices of $223K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Chicago:
Property Strategy for 60624
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $146,791 | $1,540 | 7.6% | +7.4% | $73,396 |
| 3BR | $203,761 | $1,980 | 7.0% | +2.4% | $67,920 |
| 4BR | $235,730 | $2,290 | 7.0% | +3.1% | $58,933 |
| 5BR | $279,249 | — | — | +3.8% | $55,850 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60624 Compare?
| Metric | 60624 | Chicago | Illinois |
|---|---|---|---|
| Home Value | $222,597 | $345,093 | $279,761 |
| 5-Year CAGR | 1.9% | 2.6% | 6.6% |
| Avg Rent | $1,798 | $2,056 | - |
| Cap Rate | 6.3% | 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 60624 (Chicago, IL). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 60624 (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 | $222,597 |
| Monthly Rent | $1,798 |
| Price-to-Rent | 10.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.7% |
| Cap Rate | 6.3% |
| 5-Year IRR | 8.2% |
📈 Home Appreciation
| 1-Year | +11.1% ▲ |
| 3-Year CAGR | +5.9% ▲ |
| 5-Year CAGR | +1.9% ▲ |
| 10-Year CAGR | +6.2% ▲ |
🏠 Rent Trends
| 1-Year | +13.2% ▲ |
| 3-Year CAGR | +9.3% ▲ |
| 5-Year CAGR | +8.1% ▲ |
The current 30-yr mortgage rate (6.8%) is close to the estimated cap rate (6.3%). 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 60624
Population: 35,711
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 60624
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 5,918 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What investment strategy works best in Chicago, IL?
In Chicago, IL the resilient play is typically careful cash-flow rentals with hands-on management. The combination of $223K prices and $1,798/mo rents suits that approach.
How deep is the rental pool in Chicago, IL?
Expect a solid tenant pool in Chicago, IL. The rental market absorbs $1,798/mo rents without meaningful friction.
What are rental rates like in Chicago, IL?
Rental rates in Chicago, IL average $1,798/mo. Tenant demand and $223K home values make the yield look reasonable by investor standards.
How high is vacancy risk in Chicago, IL?
Vacancy risk in Chicago, IL is elevated. That supports predictable cash flow for typical rental holds.
Are homes affordable in Chicago, IL?
Chicago, IL median home values land near $223K. That is reasonable territory for investors looking at $1,798/mo-per-month rentals.
You know 60624 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 60624 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 60624 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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