ZIP 60120 - 860Z200US60120 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 60120, located in the Elgin area of Illinois, this demographic and housing snapshot offers a clear picture of the community in 2023. With a population of over 50,000 and a diverse cultural makeup, this area presents unique opportunities for homebuyers, real estate investors, small-business owners, and analysts. Drawing from the latest data, we’ll break down key metrics on population, income, housing, and ethnicity to help you make informed decisions.

Population & Households

ZIP 60120 is home to a sizable population of 50,774 residents as of 2023. This figure reflects a vibrant community with a significant number of households—16,532 in total. These households are spread across 17,112 housing units, indicating a tight housing market with limited vacancy. For those looking to settle or invest here, understanding the scale of this population can help gauge demand for housing, services, and local amenities.

Income & Housing Costs

The median household income in ZIP 60120 stands at $80,305, suggesting a solid economic base for many residents. This income level supports a housing market where the median home value is $227,000—a reasonable entry point for buyers in the greater Chicago metropolitan region. For renters, the median monthly rent is $1,250, which aligns with the income levels and offers a benchmark for affordability. Investors and business owners can use these figures to assess purchasing power and rental demand in the area.

Race & Ethnicity

ZIP 60120 boasts a richly diverse population, with a racial and ethnic composition that shapes its cultural landscape. The largest demographic group is Hispanic, making up 60.42% of residents, followed by White residents at 26.3%. Black residents account for 4.3%, and Asian residents comprise 4.44%. This diversity can be a significant draw for businesses seeking to cater to varied cultural needs or for families looking for an inclusive community environment.

Key Facts

• Total population: 50,774 residents in ZIP 60120 as of 2023.
• Total households: 16,532, indicating a strong residential base.
• Total housing units: 17,112, with minimal vacancy compared to household numbers.
• Median household income: $80,305, reflecting a stable economic foundation.
• Median home value: $227,000, offering a competitive price point for buyers.
• Median rent: $1,250 per month, a key figure for renters and investors.
• Dominant ethnicity: Hispanic at 60.42%, contributing to a diverse community.

What This Means for You

For homebuyers, ZIP 60120 offers a compelling mix of affordability and community diversity. With a median home value of $227,000, it’s an accessible market for first-time buyers or those relocating to the Elgin area, while the cultural richness adds to the appeal of raising a family here. Investors and real estate agents will note the tight housing supply—17,112 units for 16,532 households—suggesting potential for rental income or property appreciation, especially with a median rent of $1,250. The income level of $80,305 also indicates tenants can likely sustain these rates. Small-business owners can leverage the diverse population of over 50,000, particularly the large Hispanic demographic (60.42%), to tailor products or services—think culturally specific retail, dining, or community services. Analysts can use this data to track trends in suburban diversity and housing demand near Chicago, identifying growth opportunities or market shifts.

Run This Study Yourself

• Want to dive deeper into ZIP 60120 or compare it with another area? Start by visiting ZipcodeGPT for a user-friendly platform to access detailed demographic and housing data.
• Enter any ZIP code to generate a customized report with the latest metrics on population, income, housing costs, and more.
• Use the insights to inform your next move, investment, or business strategy with confidence.