ZIP 60624 - 860Z200US60624 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 60624, located in the heart of Chicago’s West Side, understanding the area’s demographic and housing landscape is essential. This snapshot, based on 2023 data, provides a clear picture of the population, income levels, housing costs, and cultural composition of this dynamic community. Whether you’re a homebuyer, real estate investor, small-business owner, or analyst, these insights can guide your next steps with confidence.

Population & Households

ZIP 60624 is home to a population of 35,711 residents, making it a moderately sized urban community. These individuals are distributed across 13,435 households, reflecting a mix of family and individual living arrangements. With 16,250 total housing units in the area, there’s a notable presence of both occupied and vacant properties, which could signal opportunities for investors or buyers looking to enter the market. The ratio of households to population suggests an average household size of around 2.7 people, indicative of a community with a blend of small families and solo dwellers.

Income & Housing Costs

The median household income in ZIP 60624 stands at $32,607, which is below the national average but reflective of the economic challenges and opportunities in this urban area. For homebuyers and investors, the median house value of $223,200 offers a relatively accessible entry point into the Chicago real estate market, especially compared to higher-priced neighboring ZIP codes. Meanwhile, renters face a median monthly rent of $1,152, which aligns with the income levels but may pose affordability concerns for some households. These figures highlight the importance of budgeting and financial planning for anyone considering a move or investment here.

Race & Ethnicity

The cultural fabric of ZIP 60624 is predominantly African American, with 82.21% of residents identifying as Black. Hispanic or Latino residents make up 12.14% of the population, while White residents account for 3.81%, and Asian residents represent just 0.87%. This demographic composition points to a community with deep historical and cultural roots, offering a unique environment for businesses catering to specific cultural needs or for residents seeking a tight-knit, diverse neighborhood. Understanding this breakdown can help tailor business strategies or community engagement efforts effectively.

Key Facts

• Total population: 35,711 residents in 2023.
• Total households: 13,435, with an average size of approximately 2.7 people.
• Total housing units: 16,250, indicating potential availability for new occupants or investors.
• Median household income: $32,607, reflecting local economic conditions.
• Median house value: $223,200, a competitive price point in the Chicago area.
• Median rent: $1,152 per month, a key consideration for renters.
• Racial composition: 82.21% Black, 12.14% Hispanic, 3.81% White, 0.87% Asian.

What This Means for You

For homebuyers, ZIP 60624 presents an opportunity to purchase property at a median value of $223,200, which could be a smart long-term investment in an urban area with growth potential. However, consider the median income and rent levels when assessing affordability and neighborhood dynamics. Real estate investors and agents might find value in the surplus of housing units (16,250 total vs. 13,435 households), suggesting room for renovation or rental opportunities, though careful market analysis is advised given the income constraints of the area. Small-business owners can leverage the community’s strong cultural identity—particularly its predominantly African American population—to offer tailored goods or services, while also considering the limited median income when pricing products. Analysts can use this data as a baseline for deeper studies on urban development, housing trends, or economic disparities in Chicago’s West Side. Across all groups, aligning decisions with the area’s demographic and economic realities will be key to success.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 60624? 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, and more, tailored to your needs.
• Use the insights to make informed decisions, whether you’re buying a home, investing, or planning a business venture.