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Elgin city, IL

ZIP 60124 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Upper Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 60124

Median Home Value
$403,300
Median Rent
$1,792
Affordability Snapshot
$111,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$2,591/mo PITI).

16%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

3.0x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

18.8 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 60124 in Elgin city, IL, a household would need roughly $111,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $2,591. That sits below the local median household income ($135,350), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Mostly owner-occupied, low vacancy — stable housing market.

Heating Fuel
Housing Metrics
Owner Occupied
93.9%+44% vs US avg
x
Vacancy Rate
1.1%-89% vs US avg
x
Broadband Access
97.2%+12% vs US avg
x
4+ Bedrooms
9.4%-36% vs US avg
x
Built Pre-1939
0.8%-94% vs US avg
x
Built Post-2014
3.1%-55% vs US avg
x
Rent Burden >30%
27.3%-45% vs US avg
x
Mortgage-Free
30.1%-21% vs US avg
x
$403,300
Home Value
$1,792
Rent
2003
Year Built
2012
Moved In

Residents have lived here since ~2012 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached89.3%
  • 1-unit attached7.8%
  • 2-9 units0.2%
  • 10+ units2.6%
  • Mobile home & other0.1%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$403,300
Median rent$1,792
Owner-occupied93.9%
Vacant1.1%
Price-to-income3.0x
Est. income to buy$111,000