ZIP 60656 - 860Z200US60656 — Demographic Snapshot (2023)

Overview

If you're considering ZIP code 60656 in Chicago, Illinois, as a place to live, invest, or start a business, understanding the local demographics and housing landscape is essential. This snapshot, based on 2023 data, provides a clear picture of the population, income levels, housing costs, and cultural diversity in this area. Whether you're a homebuyer, real estate investor, small-business owner, or analyst, these insights can help you make informed decisions about opportunities in 60656.

Population & Households

ZIP code 60656 is home to a population of 28,726 residents, making it a moderately sized community within the broader Chicago area. This population is distributed across 12,392 households, reflecting a mix of family and individual living arrangements. With 12,840 total housing units in the area, there’s a slight surplus of homes compared to occupied households, which could indicate some availability for new residents or investors looking to acquire property.

Income & Housing Costs

The median household income in ZIP 60656 stands at $88,000, suggesting a relatively stable economic base for many residents. This income level positions the area as a comfortable middle-class community, appealing to families and professionals seeking affordability without sacrificing access to urban amenities. On the housing front, the median home value is $344,400, which reflects a solid investment opportunity in a market with consistent demand. For renters, the median rent is $1,388 per month, offering a more accessible entry point for those not ready to buy. These figures provide a balanced view of affordability and value for potential homebuyers and investors alike.

Race & Ethnicity

Diversity is a notable characteristic of ZIP 60656, with a racial and ethnic composition that reflects a blend of backgrounds. The population is 66.77% White, 14.74% Hispanic, 11.14% Asian, and 4.21% Black, with the remainder comprising other or mixed-race individuals. This cultural mix can enrich community life, offering a variety of perspectives, traditions, and business opportunities. For small-business owners, this diversity could translate into a broad customer base with varied needs and preferences.

Key Facts

• Total population: 28,726 residents in ZIP 60656.
• Total households: 12,392, indicating a mix of family and solo living.
• Total housing units: 12,840, with some potential vacancy or availability.
• Median household income: $88,000, reflecting a stable middle-class community.
• Median home value: $344,400, a competitive price point in the Chicago area.
• Median rent: $1,388, offering options for renters seeking affordability.
• Racial composition: 66.77% White, 14.74% Hispanic, 11.14% Asian, 4.21% Black.

What This Means for You

For homebuyers, ZIP 60656 offers a promising mix of affordability and value with a median home price of $344,400 and a median income of $88,000 supporting a sustainable lifestyle. The slight surplus of housing units may also mean less competition when searching for a property. Real estate investors and agents can find opportunities in a stable market with consistent home values and a diverse renter pool paying a median rent of $1,388, ideal for buy-to-let strategies. Small-business owners should note the diverse population of 28,726, which could support a range of products and services catering to varied cultural tastes and needs. Finally, analysts can use these metrics to benchmark 60656 against other ZIP codes, identifying trends in income, housing, and demographic shifts for deeper market studies.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into 60656? Start by visiting ZipcodeGPT for a user-friendly analysis tool.
• Enter any ZIP code to access up-to-date demographic, income, and housing data tailored to your needs.
• Use the insights to make informed decisions, whether you're buying a home, investing, or planning a business venture.