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 $335,833, with a typical rent of $1,801 per month. That puts the local home-value-to-annual-rent ratio at 15.5.
Key stats
- ZIP 60616 is around the 51st percentile of tracked local ZIPs for home value.
- ZIP 60616 is around the 75th percentile of tracked local ZIPs for buyer competition.
- The market-level home-value-to-annual-rent ratio is 15.5.
- 67 homes went pending for every 100 new listings in the current reading.
- Supply increased while buyer competition eased.
- Typical home value
- $335,833
- Typical rent
- $1,801
- Homes for sale
- 139
- Buyer competition
- 67
- New listings
- 52
- Homes going pending
- 35
- Listings with price cuts
- 21.1%
Price and rent in ZIP 60616
ZIP 60616 is around the 51st percentile of tracked local ZIPs for home value. ZIP 60616 is around the 34th percentile of tracked local ZIPs for rent.
ZIP 60616 home value & rent trend (past 12 months)
Typical home value fell 0.7% over the past 12 months, from $338,229 to $335,833. It rose in 5 of 11 monthly readings. The largest monthly gain was +0.2% in November 2025.
Typical rent rose 5.3% over the past 12 months, from $1,710 to $1,801. It rose in 8 of 11 monthly readings. The largest monthly gain was +2.2% in February 2026.
How ZIP 60616 compares to Chicago
ZIP 60616's typical rent is 3.3% below the Chicago median of $1,862. ZIP 60616's buyer competition is 8.1% above the Chicago median of 62.
How fast homes sell in ZIP 60616
Homes in ZIP 60616 typically go pending in about 33 days — about 20% slower than the metro median of 28 days.
Supply, pending activity, and competition
ZIP 60616 is around the 76th percentile of tracked local ZIPs for for-sale inventory. ZIP 60616 is around the 75th percentile of tracked local ZIPs for buyer competition. 67 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 141 — a 29-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 the Chicago Real Estate Market Cooling or Slowing Down?Read the related local market analysis.
- Is Chicago a Buyer's Market?Read the related local market analysis.
- All Chicago ZIP comparisonsCompare 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 housing market overviewReturn to the broader parent market.
Sources and method
- HomeMarketCap.com data sources: home value, rent, inventory, and market activity datasets
- HomeMarketCap.com methodology: definitions and calculation rules
Figures are updated monthly by the HomeMarketCap.com team under our editorial policy. Spotted something wrong? Report a correction.