ZIP 60616 covers residential neighborhoods in Chicago, located within Cook County, IL, part of the broader Chicago housing market. The typical home value in ZIP 60616 in the Chicago housing market is $346,649, with a typical rent of $1,858 per month. That puts the local home-value-to-annual-rent ratio at 15.5.
Key stats
- ZIP 60616 is around the 55th percentile of tracked local ZIPs for home value.
- ZIP 60616 is around the 82nd percentile of tracked local ZIPs for buyer competition.
- The market-level home-value-to-annual-rent ratio is 15.5.
- 70 homes went pending for every 100 new listings in the current reading.
- Supply increased while buyer competition eased.
- Typical home value
- $346,649
- Typical rent
- $1,858
- Homes for sale
- 134
- Buyer competition
- 71
- New listings
- 56
- Homes going pending
- 39
- Listings with price cuts
- 15.8%
Price and rent in ZIP 60616
ZIP 60616 is around the 55th percentile of tracked local ZIPs for home value. ZIP 60616 is around the 46th percentile of tracked local ZIPs for rent.
ZIP 60616 home value & rent trend (past 12 months)
Typical home value fell 0.9% over the past 12 months, from $349,634 to $346,649. It rose in 4 of 11 monthly readings. The largest monthly gain was +0.2% in November 2025.
Typical rent rose 3.9% over the past 12 months, from $1,788 to $1,858. It rose in 7 of 11 monthly readings. The largest monthly gain was +2.2% in February 2026.
How ZIP 60616 compares to the metro
ZIP 60616's typical home value is 1.9% above the metro median of $340,167. ZIP 60616's typical rent is 1.3% below the metro median of $1,883. ZIP 60616's buyer competition is 11.8% above the metro median of 64.
How fast homes sell in ZIP 60616
Homes in ZIP 60616 typically go pending in about 44 days — about 69% slower than the metro median of 26 days.
Supply, pending activity, and competition
ZIP 60616 is around the 73rd percentile of tracked local ZIPs for for-sale inventory. ZIP 60616 is around the 82nd percentile of tracked local ZIPs for buyer competition. 70 homes went pending for every 100 new listings in the current reading. Supply increased while buyer competition eased. Over the 12 readings on record, inventory moved between 112 and 147 — a 35-point spread across 55 comparable tracked ZIPs.
Nearby markets worth comparing
Relevant nearby ZIP pages include 60605, 60604, 60603, 60607.
Continue your market research
- Is Chicago Housing Market Cooling?Read the related local market analysis.
- Is Chicago a Buyer's Market?Read the related local market analysis.
- Compare 60616 vs 60601Compare this market with another tracked ZIP or peer group.
- Compare 60616 vs 60602Compare this market with another tracked ZIP or peer group.
- Compare 60616 vs top 5 ZIPsCompare this market with another tracked ZIP or peer group.
- ZIP 60605 housing marketReview a nearby local market with the same core measures.
- ZIP 60604 housing marketReview a nearby local market with the same core measures.
- ZIP 60603 housing marketReview a nearby local market with the same core measures.
- Chicago Metro housing market overviewReturn to the broader parent market.
60616 Housing Market Overview FAQ
What is the typical home value in ZIP 60616?
The typical home value in ZIP 60616 is $346,649 in the latest monthly reading.
What is the typical rent in ZIP 60616?
Typical rent in ZIP 60616 is $1,858 per month.
What is the home-value-to-rent ratio in ZIP 60616?
ZIP 60616 has a home-value-to-annual-rent ratio of 15.5.
Sources and method
- HomeMarketCap.com data sources: home value, rent, inventory, and market activity datasets
- HomeMarketCap.com methodology: definitions and calculation rules