ZIP 62206 - 860Z200US62206 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 62206 for a home purchase, investment opportunity, or business venture, understanding the local demographics and housing landscape is crucial. Located in Illinois, this area offers a unique mix of affordability and diversity, making it a potential fit for various goals. This snapshot, based on 2023 data, breaks down key metrics like population, income, housing costs, and racial composition to help you make informed decisions. Whether you’re a homebuyer, real estate investor, small-business owner, or analyst, these insights provide a clear starting point for evaluating ZIP 62206.

Population & Households

ZIP 62206 is home to a population of 13,155 residents as of 2023. This moderate-sized community is spread across 4,858 households, indicating a mix of family and individual living arrangements. With 6,586 total housing units in the area, there’s a notable gap between occupied and available units, which could signal opportunities for investors or buyers looking for vacant properties. Understanding the population size and household distribution can help you gauge the community’s scale and potential demand for goods, services, or housing in this ZIP code.

Income & Housing Costs

The median household income in ZIP 62206 stands at $39,520 annually, reflecting a working-class community where affordability is a key characteristic. Housing costs align with this income level, with a median house value of $57,700—well below national averages. This low entry point could be attractive for first-time homebuyers or investors seeking budget-friendly properties with potential for appreciation. For renters, the median rent is $1,021 per month, which may represent a significant portion of income for some households but offers a benchmark for landlords assessing rental viability. These figures highlight ZIP 62206 as a cost-effective area for housing, though buyers and investors should weigh income levels against maintenance or renovation costs.

Race & Ethnicity

The racial and ethnic composition of ZIP 62206 reflects a diverse community with a majority Black population at 59.09%. White residents make up 29.33%, while Hispanic individuals account for 2.71%, and Asian residents comprise 1.97%. This diversity shapes the cultural fabric of the area, offering a rich environment for businesses catering to varied demographics or for residents seeking an inclusive community. For small-business owners, understanding these demographics can guide marketing strategies or product offerings to align with local needs and preferences.

Key Facts

• Total population in ZIP 62206: 13,155 residents.
• Total households: 4,858, indicating a mix of family and solo living.
• Total housing units: 6,586, with potential vacancies for buyers or investors.
• Median household income: $39,520, reflecting a working-class area.
• Median house value: $57,700, a low entry point for homeownership.
• Median rent: $1,021, a key figure for renters and landlords.
• Racial composition: 59.09% Black, 29.33% White, 2.71% Hispanic, 1.97% Asian.

What This Means for You

For homebuyers, ZIP 62206 offers an affordable entry into homeownership with a median house value of $57,700. This price point could be ideal if you’re looking to stretch your budget, though it’s wise to assess property conditions and neighborhood amenities before committing. Investors and real estate agents might find opportunity in the gap between total housing units (6,586) and occupied households (4,858), suggesting vacant properties or rental potential—especially with a median rent of $1,021. However, consider local income levels when setting rental rates or flipping properties. Small-business owners can leverage the area’s diversity (59.09% Black, 29.33% White) to tailor offerings, whether it’s culturally relevant products or services for a working-class clientele with a median income of $39,520. Analysts can use these metrics to benchmark ZIP 62206 against nearby areas for deeper market studies. Across all groups, the affordability and diversity here present a foundation for strategic decisions.

Run This Study Yourself

• Want to dive deeper into ZIP 62206 or compare it with another area? 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 inform your next home purchase, investment, or business plan with confidence.