ZIP 60651 - 860Z200US60651 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 60651, located in the vibrant Chicago area, this demographic and housing snapshot offers a clear picture of the community. With data from 2023, we’ve compiled key metrics on population, income, housing costs, and racial composition to help homebuyers, real estate investors, small-business owners, and analysts make informed decisions. Let’s dive into what makes ZIP 60651 unique and how its characteristics can align with your goals.

Population & Households

ZIP 60651 is home to a substantial population of 63,892 residents, making it a densely populated urban area with a strong community presence. This ZIP code supports 20,880 households, reflecting a mix of family and individual living arrangements. With 22,885 total housing units available, there’s a slight surplus of homes compared to occupied households, which could indicate potential rental or purchase opportunities for those looking to enter the market.

Income & Housing Costs

The median household income in ZIP 60651 stands at $52,963, positioning it as a moderate-income area within the Chicago region. This income level suggests a community with working-class roots, where affordability remains a key consideration for residents. On the housing front, the median home value is $262,700, which may appeal to buyers seeking relatively accessible entry points into the Chicago real estate market. For renters, the median monthly rent is $1,186, reflecting a significant but manageable cost for many in this income bracket. These figures highlight a balance between affordability and investment potential, especially for those eyeing long-term growth in property values.

Race & Ethnicity

ZIP 60651 is a culturally diverse area, with a racial and ethnic composition that reflects a rich tapestry of backgrounds. The largest demographic group is Black residents, making up 51.48% of the population, followed by Hispanic residents at 39.27%. White residents account for 6.66%, while Asian residents represent a smaller share at 1.13%. This diversity fosters a dynamic community atmosphere, offering unique cultural experiences and opportunities for businesses catering to varied customer bases.

Key Facts

• Total population: 63,892 residents, indicating a sizable urban community.
• Total households: 20,880, supporting a mix of family and solo living.
• Total housing units: 22,885, suggesting some availability for new occupants.
• Median household income: $52,963, reflecting a moderate-income area.
• Median home value: $262,700, a potentially accessible price point in Chicago.
• Median rent: $1,186 per month, a notable but feasible cost for renters.
• Racial diversity: Predominantly Black (51.48%) and Hispanic (39.27%) population.

What This Means for You

For homebuyers, ZIP 60651 offers a chance to purchase at a median value of $262,700, which could be a smart entry into the Chicago market, especially if you’re looking for a diverse, urban neighborhood with growth potential. The slight surplus of housing units might also mean less competition in certain segments of the market.

For investors and real estate agents, the combination of moderate home values and a median rent of $1,186 suggests opportunities for rental properties or fixer-uppers in a community with steady demand. The population size and diversity also indicate a robust tenant pool.

For small-business owners, the cultural diversity and population density of 63,892 residents create a fertile ground for businesses that cater to varied tastes and needs, from ethnic cuisine to specialized services. The moderate income level means pricing strategies should focus on affordability to attract a broad customer base.

For analysts, these metrics provide a baseline for tracking trends in urban demographics, housing affordability, and community development in ZIP 60651, especially when compared to neighboring areas or historical data.

Run This Study Yourself

• Curious about other ZIP codes or deeper insights into ZIP 60651? Start by visiting ZipcodeGPT to access powerful demographic and housing analysis tools.
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