ZIP 60616 Housing Market Report
Chicago Metro
Report period: May 2026
60616 Monthly Market Update – May 2026
ZIP 60616 · Last updated May 13, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$339,900
−2.9%
Median DOM (Sales)
28
−6.7%
New Listings (Sales)
27
−59.1%
Median Rent
$2,430
−2.2%
Median DOM (Rental)
24
−7.7%
Total Rental Listings
361
+5.6%
Month-over-Month Movement
Median sale prices eased compared to last month. Days on market improved. Rents softened. Rental inventory expanded.
What's Moving Fastest
- Fastest selling: Single Family (12 DOM)
- Fastest renting: Townhouse (9 DOM)
- Strongest bedroom: 4 Beds ($750,000 median)
Sales Market Overview
Median Price
$339,900
−2.9%
Median DOM
28
−6.7%
New Listings
27
−59.1%
Inventory
229
+0.4%
- Average Price: $418,903
- Median Price: $339,900
- Price Range: $5,400 – $1,808,000
- Price per Sq Ft (Avg/Median): $280 / $289
- Square Footage (Avg/Median): 1,467 / 1,200
- Square Footage Range: 440 – 8,800
- Days on Market (Avg/Median): 54 / 28
- Days on Market Range: 1 – 355
- New Listings: 27
- Total Listings: 229
Sales by Property Type
Condo
Avg/Median Price$323,823 / $299,900Range$90,000 – $1,549,999Price per Sq Ft$279 / $285Sq Ft1,180 / 1,100DOM47 / 27New17Total159
Land
Avg/Median Price$435,504 / $290,000Range$5,400 – $1,500,000Price per Sq Ft—Sq Ft—DOM129 / 83New3Total22
Multi-Family
Avg/Median Price$654,156 / $599,900Range$359,000 – $1,400,000Price per Sq Ft—Sq Ft—DOM57 / 23New2Total16
Single Family
Avg/Median Price$775,407 / $749,900Range$389,900 – $1,808,000Price per Sq Ft$269 / $300Sq Ft3,042 / 2,800DOM60 / 12New2Total15
Townhouse
Avg/Median Price$750,717 / $650,000Range$368,000 – $1,490,000Price per Sq Ft$300 / $289Sq Ft2,443 / 2,500DOM24 / 14New3Total17
Sales by Bedroom Count
Studio
Avg:$118,167Median:$100,000Range:$90,000 – $185,500PSF:$217 / $180Sq Ft:548 / 500DOM:48 / 32New:1Total:6
1 Beds
Avg:$243,217Median:$249,900Range:$110,000 – $470,000PSF:$281 / $301Sq Ft:848 / 822DOM:34 / 16New:6Total:60
2 Beds
Avg:$362,370Median:$360,000Range:$131,900 – $649,000PSF:$291 / $323Sq Ft:1,270 / 1,246DOM:43 / 26New:9Total:67
3 Beds
Avg:$535,713Median:$470,000Range:$129,900 – $1,549,999PSF:$277 / $261Sq Ft:1,867 / 1,727DOM:57 / 28New:6Total:46
4 Beds
Avg:$808,046Median:$750,000Range:$359,000 – $1,490,000PSF:$293 / $300Sq Ft:2,986 / 2,800DOM:62 / 36New:1Total:15
5 Beds
Avg:$940,425Median:$648,800Range:$624,900 – $1,808,000PSF:$236 / $205Sq Ft:5,678 / 2,556DOM:34 / 30New:0Total:4
6 Beds
Avg:$771,200Median:$535,000Range:$389,900 – $1,400,000PSF:$121 / $121Sq Ft:3,230 / 3,230DOM:22 / 11New:1Total:4
7 Beds
Avg:$699,950Median:$599,900Range:$599,900 – $800,000PSF:—Sq Ft:—DOM:171 / 48New:0Total:2
8 Beds
Avg:$585,667Median:$560,000Range:$398,000 – $799,000PSF:—Sq Ft:—DOM:107 / 127New:0Total:3
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $118,167 | $100,000 | $90,000 – $185,500 | $217 / $180 | 548 / 500 | 48 / 32 | 1 | 6 |
| 1 Beds | $243,217 | $249,900 | $110,000 – $470,000 | $281 / $301 | 848 / 822 | 34 / 16 | 6 | 60 |
| 2 Beds | $362,370 | $360,000 | $131,900 – $649,000 | $291 / $323 | 1,270 / 1,246 | 43 / 26 | 9 | 67 |
| 3 Beds | $535,713 | $470,000 | $129,900 – $1,549,999 | $277 / $261 | 1,867 / 1,727 | 57 / 28 | 6 | 46 |
| 4 Beds | $808,046 | $750,000 | $359,000 – $1,490,000 | $293 / $300 | 2,986 / 2,800 | 62 / 36 | 1 | 15 |
| 5 Beds | $940,425 | $648,800 | $624,900 – $1,808,000 | $236 / $205 | 5,678 / 2,556 | 34 / 30 | 0 | 4 |
| 6 Beds | $771,200 | $535,000 | $389,900 – $1,400,000 | $121 / $121 | 3,230 / 3,230 | 22 / 11 | 1 | 4 |
| 7 Beds | $699,950 | $599,900 | $599,900 – $800,000 | — | — | 171 / 48 | 0 | 2 |
| 8 Beds | $585,667 | $560,000 | $398,000 – $799,000 | — | — | 107 / 127 | 0 | 3 |
Rental Market Overview
Median Rent
$2,430
−2.2%
Median DOM
24
−7.7%
New Listings
41
Inventory
361
+5.6%
- Average Rent: $2,510
- Median Rent: $2,430
- Rent Range: $765 – $8,650
- Rent per Sq Ft (Avg/Median): $3 / $3
- Square Footage (Avg/Median): 950 / 887
- Square Footage Range: 300 – 3,200
- Days on Market (Avg/Median): 54 / 24
- Days on Market Range: 2 – 361
- New Listings: 41
- Total Listings: 361
Rentals by Property Type
Apartment
$2,409
Median DOM: 30
Inventory: 262
MoM: −2.2%
Condo
$2,500
Median DOM: 19
Inventory: 72
MoM: −2.2%
Single Family
$2,400
Median DOM: 22
Inventory: 23
MoM: −2.2%
Townhouse
$4,000
Median DOM: 9
Inventory: 4
MoM: −2.2%
Apartment
Avg/Median Rent$2,457 / $2,409Range$765 – $8,650Rent per Sq Ft$3 / $3Sq Ft863 / 825DOM63 / 30New28Total262
Condo
Avg/Median Rent$2,553 / $2,500Range$1,300 – $4,000Rent per Sq Ft$2 / $3Sq Ft1,087 / 1,057DOM38 / 19New9Total72
Single Family
Avg/Median Rent$2,550 / $2,400Range$1,495 – $4,800Rent per Sq Ft$2 / $2Sq Ft1,188 / 1,200DOM38 / 22New3Total23
Townhouse
Avg/Median Rent$5,000 / $4,000Range$4,000 – $6,000Rent per Sq Ft$2 / $2Sq Ft2,636 / 2,500DOM26 / 9New1Total4
Rentals by Bedroom Count
Studio
Avg:$1,483Median:$1,399Range:$765 – $2,150PSF:$3 / $3Sq Ft:504 / 454DOM:57 / 24New:0Total:25
1 Beds
Avg:$2,204Median:$2,329Range:$1,215 – $4,000PSF:$3 / $3Sq Ft:718 / 700DOM:52 / 17New:25Total:136
2 Beds
Avg:$2,671Median:$2,800Range:$1,295 – $4,459PSF:$3 / $3Sq Ft:1,058 / 1,027DOM:55 / 30New:11Total:156
3 Beds
Avg:$3,172Median:$2,600Range:$1,450 – $7,400PSF:$2 / $2Sq Ft:1,487 / 1,310DOM:42 / 19New:5Total:36
4 Beds
Avg:$4,794Median:$4,000Range:$1,800 – $8,650PSF:$2 / $2Sq Ft:2,233 / 2,229DOM:87 / 41New:0Total:8
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,483 | $1,399 | $765 – $2,150 | $3 / $3 | 504 / 454 | 57 / 24 | 0 | 25 |
| 1 Beds | $2,204 | $2,329 | $1,215 – $4,000 | $3 / $3 | 718 / 700 | 52 / 17 | 25 | 136 |
| 2 Beds | $2,671 | $2,800 | $1,295 – $4,459 | $3 / $3 | 1,058 / 1,027 | 55 / 30 | 11 | 156 |
| 3 Beds | $3,172 | $2,600 | $1,450 – $7,400 | $2 / $2 | 1,487 / 1,310 | 42 / 19 | 5 | 36 |
| 4 Beds | $4,794 | $4,000 | $1,800 – $8,650 | $2 / $2 | 2,233 / 2,229 | 87 / 41 | 0 | 8 |
6-Month Sales Trend
Dec 2025
Median Price:$375,000Median DOM:63New:22Total:210
Jan 2026
Median Price:$375,000Median DOM:58New:54Total:224
Feb 2026
Median Price:$364,000Median DOM:35New:57Total:206
Mar 2026
Median Price:$364,000Median DOM:29New:70Total:220
Apr 2026
Median Price:$349,900Median DOM:30New:66Total:228
May 2026
Median Price:$339,900Median DOM:28New:27Total:229
6-Month Rental Trend
Dec 2025
Median Rent:$2,385Median DOM:55New:30Total:211
Jan 2026
Median Rent:$2,400Median DOM:68New:31Total:199
Feb 2026
Median Rent:$2,469Median DOM:27New:88Total:259
Mar 2026
Median Rent:$2,500Median DOM:34New:54Total:296
Apr 2026
Median Rent:$2,485Median DOM:26New:80Total:342
May 2026
Median Rent:$2,430Median DOM:24New:41Total:361
Key Market Takeaways
Median sale prices softened this month while inventory expanded. Days on market declined, signaling improving buyer activity. Rental pricing eased, while total rental inventory increased.
Market data is only valuable if you act on it. With pricing stabilizing and days on market shifting, this is the type of environment where disciplined investors find their edge.
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