ZIP 60620 - 860Z200US60620 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 60620, located in the heart of Chicago’s South Side, this demographic and housing snapshot offers a clear picture of the area in 2023. With a population of over 66,000 and a predominantly residential character, this ZIP code presents unique opportunities and challenges 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 diversity to help you make informed decisions.

Population & Households

ZIP 60620 is home to 66,511 residents, making it a densely populated urban area with a strong community presence. These individuals are distributed across 25,896 households, reflecting a mix of family and individual living arrangements. The total number of housing units stands at 30,008, indicating some vacancy or availability for potential buyers or renters. For those looking to settle or invest, this balance of population density and housing stock suggests a stable yet dynamic neighborhood with room for growth or transition.

Income & Housing Costs

The median household income in ZIP 60620 is $48,805, which provides insight into the economic landscape of the area. This figure suggests a working-class community where affordability remains a key consideration for residents. On the housing front, the median house value is $187,900, offering a relatively accessible entry point for homebuyers compared to other parts of Chicago. For renters, the median rent is $1,093 per month, reflecting a moderate cost of living for those not ready to buy. These numbers are critical for investors assessing potential returns and for small businesses gauging local purchasing power.

Race & Ethnicity

The demographic makeup of ZIP 60620 is notably homogeneous, with 93.5% of the population identifying as Black or African American. Other groups include 3.3% Hispanic or Latino, 0.98% White, and 0.49% Asian. This strong cultural identity shapes the community’s character, influencing everything from local businesses to social services. For newcomers or businesses, understanding this composition is essential for building connections and tailoring offerings to meet the needs and preferences of the majority demographic.

Key Facts

• Total population: 66,511 residents, indicating a sizable urban community.
• Total households: 25,896, reflecting a mix of family and solo living.
• Total housing units: 30,008, with some availability for new occupants.
• Median household income: $48,805, pointing to a working-class economic base.
• Median house value: $187,900, an accessible price point for Chicago.
• Median rent: $1,093, a moderate cost for renters in the area.
• Racial composition: 93.5% Black, 3.3% Hispanic, 0.98% White, 0.49% Asian.

What This Means for You

For homebuyers, ZIP 60620 offers a chance to enter the Chicago housing market at a median value of $187,900, which is more affordable than many neighboring areas. The availability of housing units (30,008 total) suggests options for finding the right property, though competition may exist in popular pockets. Real estate investors and agents can leverage the moderate home values and rental rates ($1,093 median rent) to target first-time buyers or long-term tenants, especially given the stable population base of over 66,000. Keep an eye on vacancy rates and local demand to maximize returns.

For small-business owners, the median household income of $48,805 indicates a community with steady but not excessive disposable income. Focus on essential goods, affordable services, or culturally relevant offerings to align with the needs of the predominantly Black demographic (93.5%). Finally, analysts can use this data to track trends in urban housing affordability and demographic shifts, particularly in how economic factors influence community growth in areas like ZIP 60620.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 60620? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic and housing data.
• Enter any ZIP code to access up-to-date metrics on population, income, housing costs, and more, tailored to your needs.
• Use the insights to inform your next home purchase, investment decision, or business strategy with confidence.