Chicago zip code5/17/2023 ![]() ![]() The median age for men is 31 while for women the median age is 31. This statistic includes anyone over the age of 16.Īre you thinking about moving to a neighborhood in 60622? You might be interested to know that the average commute time to work for people living here is not bad, only 29.5 minutes. Median family income in 60622 is $39,838.Īn intersting fact about income: Men in 60622 earn an average of $37,775/year. The median household income in the US (median, meaning half of US households make more and half make less) is at about $50,000/year. (Wouldn't that be nice!) This pushes the national average higher than in would be without those edge cases. However, the national average number is a little misleading because there are some very wealthy Americans earning $50 million a year or more. This is less than the national average of $70,000/year. The average family income here is $55,179/year. Here’s the list of the Chicago area’s 25 most expensive ZIP codes of 2019: 1.At $441,700 the average home value here is a bit higher than average for the Chicago-Naperville-Joliet metro area, so this probably isn't the place to look for housing bargains. (Only ZIP codes that registered a minimum of three residential transactions were considered.) 22, 2019, including condos, co-ops, and single- and two-family homes in Cook and DuPage counties. The rankings are based on closed residential transactions between Jan. And most homes sell at or above list price.” The West Loop also has one of the city’s top-ranked elementary schools, so it’s no surprise that home prices are skyrocketing. “Chicago’s West Loop, one of the top five (Chicago) ZIP codes listed in the study, is a good example of an established area that is near employment hubs as well as one of the city’s most bustling entertainment centers. “The city’s urban core is an in-demand location for buyers,” Creamer said. And homes near highly ranked schools and established retail, dining and entertainment corridors will sell faster and for more than those in gentrifying neighborhoods. Residences near work hubs and public transit garner higher prices than those in outlying areas. Housing costs in the city are affected by factors such as the age of the building and the quality of the design, according to Creamer, but also by proximity to amenities that urban dwellers crave - accessibility to workplaces, educational institutions, shopping and recreation. ZIP code 60614, covering parts of Lincoln Park, Old Town Triangle, DePaul University and Bucktown, takes second place in Chicago with a $505,000 median sales price, and 60622, which includes Wicker Park and Ukrainian Village, comes in third with a median sales price of $485,000. So if a lot of the units selling there are $1 million-plus, obviously that really can drive the average price.” “I think what’s driving that, too, is there’s only a certain number of buildings there. It’s in the Loop,” said Ben Creamer, co-founder and managing broker at Downtown Realty Company. In Chicago proper, the Loop’s 60603 ZIP code had the highest property sales prices in 2019, with a median of $570,000. “If there are little to no inexpensive homes in an area, it keeps all sales prices at a high level.” ![]() “Generally speaking, the most expensive ZIP codes are surrounded by other expensive ZIP codes, which ‘insulate’ the property values, therefore making the most expensive ZIP codes a ‘safe’ investment,” he said. “Those reasons include: consistency in housing, schools, crime rates and cost of living.”Ĭlusters of high-priced residential areas - like on the North Shore - also make sense, Gill noted. “There are multiple reasons why the most expensive ZIP codes are what they are,” said Bill Gill, a manager for Baird & Warner’s Naperville branch and a real estate veteran of 32 years. 1 at a median sales price of $1.24 million. Chicagoland has some pricey areas when it comes to real estate sales.Īccording to real estate website PropertyShark, of the 10 most expensive ZIP codes in the entire Chicago area, six are North Shore communities, three are western suburbs, and one is in the Loop. That ka-ching sound you hear could be coming from down the street or around the corner. ![]()
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