ZIP 60617 - 860Z200US60617 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 60617, located in the Chicago area, this demographic and housing snapshot offers a clear picture of the community. With data from 2023, we’ll break down population stats, household dynamics, income levels, housing costs, and racial composition to help you make informed decisions. Whether you’re a homebuyer, real estate investor, small-business owner, or analyst, these insights into ZIP 60617 will guide your next steps with confidence.

Population & Households

ZIP 60617 is home to a substantial population of 79,284 residents, making it a vibrant and active community within the broader Chicago region. This area supports 30,248 households, reflecting a mix of family and individual living arrangements. With 35,031 total housing units available, there’s a notable inventory of homes, though not all are occupied, suggesting potential opportunities for buyers or investors looking to enter this market. The ratio of population to households indicates an average household size of about 2.6 people, which points to a community with a blend of smaller and larger family units.

Income & Housing Costs

The median household income in ZIP 60617 stands at $51,237, which provides a sense of the economic baseline for residents. This income level suggests a working-class community with moderate purchasing power, an important consideration for businesses targeting local consumers or investors assessing rental demand. On the housing front, the median home value is $168,200, positioning ZIP 60617 as a relatively affordable entry point into the Chicago housing market. For renters, the median rent is $1,010 per month, offering a more accessible alternative to homeownership in an area where housing costs remain competitive compared to other parts of the city.

Race & Ethnicity

The racial and ethnic makeup of ZIP 60617 reflects a diverse and dynamic community. The largest demographic group is Black or African American, comprising 51.74% of the population, followed by Hispanic or Latino residents at 40.66%. White residents account for 5.94% of the population, while Asian residents make up a smaller share at 0.21%. This diversity shapes the cultural fabric of the area, influencing everything from local businesses to community events. For business owners and investors, understanding this composition can help tailor offerings or marketing strategies to resonate with the predominant groups in ZIP 60617.

Key Facts

• Total population: 79,284 residents, indicating a sizable community.
• Total households: 30,248, with an average household size of approximately 2.6 people.
• Total housing units: 35,031, with some unoccupied units potentially available for purchase or rent.
• Median household income: $51,237, reflecting a moderate economic base.
• Median home value: $168,200, offering affordability in the Chicago market.
• Median rent: $1,010, providing a cost-effective option for renters.
• Racial composition: Predominantly Black (51.74%) and Hispanic (40.66%), with smaller White (5.94%) and Asian (0.21%) populations.

What This Means for You

For homebuyers, ZIP 60617 presents an opportunity to purchase at a median value of $168,200, which is relatively affordable for the Chicago area. This could be ideal for first-time buyers or those seeking value in a diverse, established neighborhood. Real estate investors and agents will note the presence of unoccupied housing units among the 35,031 total, suggesting potential for rental properties or flips, especially with a median rent of $1,010 that aligns with local income levels. Small-business owners can leverage the area’s diversity and population size of nearly 80,000 to target specific cultural or demographic needs, particularly within the Black and Hispanic communities that dominate the area. Analysts can use these metrics to benchmark ZIP 60617 against neighboring areas or track trends over time, focusing on income and housing cost dynamics to predict future growth or challenges.

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