ZIP 60640 - 860Z200US60640 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 60640, located in the vibrant heart of Chicago’s North Side, this demographic and housing snapshot offers a clear picture of the area in 2023. With a population of over 66,000 and a diverse community, this ZIP code presents a dynamic mix of urban living, cultural richness, and economic potential. Whether you’re a homebuyer, real estate investor, small-business owner, or analyst, these insights will help you make informed decisions about living or working in 60640.

Population & Households

ZIP 60640 is home to 66,884 residents, making it a densely populated urban area with a lively community vibe. The area supports 37,727 households, reflecting a mix of singles, families, and shared living arrangements. With 40,850 total housing units, there’s a slight surplus of homes compared to households, which could indicate some availability for new residents or investors looking for rental opportunities. This balance suggests a stable yet competitive housing market in 60640, ideal for those seeking an active, connected neighborhood.

Income & Housing Costs

The median household income in ZIP 60640 stands at $71,030, positioning it as a moderately affluent area within Chicago. This income level supports a comfortable lifestyle for many residents while reflecting the economic diversity of the region. Housing costs align with an urban market: the median home value is $363,300, which may appeal to buyers looking for long-term value in a growing city neighborhood. For renters, the median rent is $1,374 per month, indicating a significant but manageable cost for those not ready to buy. These figures highlight 60640 as a place where both homeownership and renting are viable options, depending on your financial goals.

Race & Ethnicity

ZIP 60640 boasts a diverse population, a key draw for those who value cultural variety. The racial composition breaks down as follows: 53.59% White, 17.56% Black, 10.17% Asian, and 13.33% Hispanic. This mix creates a multicultural environment that enriches the community through varied perspectives, cuisines, and traditions. For businesses, this diversity offers a broad customer base, while families and individuals can enjoy a welcoming, inclusive atmosphere in 60640.

Key Facts

• Total population: 66,884 residents, reflecting a bustling urban area.
• Total households: 37,727, indicating a strong residential base.
• Total housing units: 40,850, suggesting some availability for new occupants.
• Median household income: $71,030, supporting a stable local economy.
• Median home value: $363,300, a competitive price for urban Chicago.
• Median rent: $1,374, reflecting typical costs for city living.
• Racial diversity: Over 46% of residents identify as non-White, fostering a vibrant community.

What This Means for You

For homebuyers, ZIP 60640 offers a chance to invest in a home with a median value of $363,300, which could appreciate over time in this urban hub. The slight surplus of housing units may give you some negotiating power, but act quickly as demand remains high. Investors and real estate agents will find opportunities in the rental market, with a median rent of $1,374 attracting a steady stream of tenants in a population of over 66,000. The diversity and density also make this area ripe for flipping or long-term holds. Small-business owners can tap into a diverse customer base of nearly 67,000 people, with a median household income of $71,030 providing disposable income for local goods and services. Finally, analysts can use these metrics to benchmark 60640 against other ZIP codes, noting its balanced housing stock and multicultural appeal as key differentiators.

Run This Study Yourself

• Curious about other areas or want to dive deeper into ZIP 60640? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic data.
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