At the June 2026 endpoint, ZIP 60644 has a Zillow ZORI of $1,445 per month. This five-digit label is both a Zillow ZIP market identifier and a Census ZCTA match; a ZCTA is a statistical area and is not identical to a USPS delivery ZIP. ZORI is a typical observed asking-rent index blended across rental types, rather than the quoted rent for every available dwelling or a survey median. The immediate tension is that this current asking-rent snapshot is materially shaped by a different evidence universe than household-income and occupied-home survey measures, so it should be read as a market indicator rather than a household outcome.
The supplied history classifies 60644 as stable growth. Exact same-month annualized asking-rent changes were 6.85% over one year, 6.34% over three years, and 7.45% over five years. The recent pace therefore confirms the longer upward path: it is slightly above the three-year pace but below the five-year pace, rather than breaking from it. Monthly returns produced 2.68% annualized variability, indicating that the observed path had limited month-to-month dispersion relative to its multi-year gains. Its deepest peak-to-trough decline was 2.48%, which still shows that a current rent reading is not an uninterrupted trajectory. Full coverage supports more confidence in the series than a fragmented history, while Zillow’s blended index remains only one current snapshot. Transparent national discovery ranks among history-eligible ZIPs are 98 for momentum, 1,022 for stability, and 109 for balance, with lower ranks higher; these backward-looking measures are neither forecasts nor investment recommendations.
Source definitions explain much of the apparent rent gap. The matched Census ZCTA ACS median gross rent is $1,132, with a reported $36 margin of error; it is a five-year survey of occupied renter homes and includes selected utilities, so it is not an asking-rent measure. The FY2026 HUD FMR/SAFMR ladder is also not asking rent: it is an administrative, bedroom-specific standard. Using that local HUD ladder to scale ZIP ZORI produces modelled monthly estimates, ordered from studio upward, of $1,196, $1,286, $1,445, $1,864, and $2,153. The central modelled entry sits against an associated HUD standard of $1,450. These are modelled estimates, never measured bedroom rents, and they should not be substituted for unit-level listings or completed leases.
The income screen sharpens the affordability tension without determining anyone’s eligibility. At a 30% rent-to-income threshold, the arithmetic required income for the current Zillow asking-rent index is $57,800 annually. That exceeds the ACS ZCTA median household income of $40,950, producing an asking-rent-to-income screen of 42.3%. This calculation is arithmetic, not advice and not an applicant qualification rule. In the separate ACS burden measure, 7,093 renter households reported paying at least 30% of income toward housing costs, equal to 54.9% of renter households in that table. The burden result is evidence about surveyed households, not proof that a particular currently available unit is affordable, unaffordable, occupied, or vacant.
The matched ZCTA housing survey indicates a renter-heavy stock, but it does not convert vacancy categories into current listing supply. There are 20,246 housing units and an overall vacancy rate of 8.6%. Of the vacant stock, 139 units are classified as vacant for rent; that classification is not confirmation that a unit is actively marketed, ready for occupancy, priced at ZORI, or suitable for a specific household. Renter-occupied homes account for 69.8% of occupied units. The structure mix includes 3,855 single-family units alongside a separately reported large-multifamily segment, reinforcing that the ZIP-level rent index blends rental types rather than representing one building form or bedroom count.
Broader context points in the same direction on rent level, although it cannot explain why the ZIP differs. Chicago city context rent is $2,408.80, Cook County context rent is $2,336, and Chicago-Naperville-Elgin, IL-IN-WI metro context rent is $2,275; these are city, county, and metro values for wider context, not ZIP figures or substitutes for 60644 rental observations. The ZIP’s lower asking-rent index therefore sits below each named broader-scope reference. Yet the ACS ZCTA income and burden screens remain the more relevant supplied evidence for the local household affordability tension, because city, county, and metro aggregates combine households and housing outside this ZIP identifier.
The direct rolling three-month ZIP resale observation describes for-sale activity, not rental transactions. It reports a median sold price of $323,927, up 27.03% year over year, with 58 homes sold and a median 57 days on market. Inventory is 71 homes, equivalent to 3.7 months of supply. Sale-to-list signals were firm in this resale record: the average sale-to-list ratio was 100.58%, and 55.41% of sales closed above list price. Annualized ZIP ZORI divided by median sold price equals 5.35%, but that is only a cross-source screening ratio; it does not measure operating costs, financing, property economics, or investment performance. The rapid resale-price change and above-list sale signals challenge any simple conclusion drawn from the calmer rent-history path or the income screen, because the two datasets observe different transactions and market universes.
Important limits remain at the property level. Zillow’s index blends rental types, ACS is a ZCTA survey of occupied homes, HUD is an administrative standard, and Redfin is a rolling ZIP resale record; their timing, populations, and definitions do not create unit-level comparables. Concrete property-level checks should verify the address’s delivery ZIP and ZCTA mapping, advertised rent, bedroom count, included utilities, concessions, lease terms, availability status, property type, and condition. For a sale, the specific closing price, list-price history, transaction date, and physical characteristics also need confirmation. Neither the area vacancy category nor the area burden share can establish the condition, rent, availability, or affordability of one dwelling. The remaining question is whether a specified property’s facts actually match the source universe being used.
","findings":[{"body":"ZIP 60644’s Zillow ZORI reached $1,445 in June 2026 after same-month annualized gains of 6.85% over one year, 6.34% over three years, and 7.45% over five years. That pattern supports the supplied stable-growth classification. It does not establish the rent for any particular unit because ZORI blends observed asking rents across rental types.","title":"Rent growth is persistent, but the index remains blended"},{"body":"The studio-through-four-bedroom figures are modelled estimates derived by scaling ZIP ZORI with the local HUD FMR/SAFMR ladder. The resulting range runs from $1,196 to $2,153 monthly. HUD standards are administrative bedroom-specific benchmarks, while ZORI is an asking-rent index; neither source provides measured bedroom-specific lease rents for this ZIP.","title":"Bedroom figures are a HUD-scaled model, not lease evidence"},{"body":"The arithmetic income needed to keep the current asking-rent index at 30% of income is $57,800, compared with ACS ZCTA median household income of $40,950. Separately, 54.9% of surveyed renter households were burdened at or above the 30% threshold. These measures describe area-level screens and surveyed households, not individual applicant outcomes.","title":"Household affordability indicators are under pressure"},{"body":"The direct ZIP resale record showed a $323,927 median sold price, a 27.03% annual increase, 3.7 months of supply, and an average sale-to-list ratio above 100%. Those are for-sale observations, not rental transactions. The 5.35% annualized-rent-to-price figure is only a cross-source screening ratio and cannot represent property-level economics.","title":"Resale signals are stronger than the rent snapshot alone suggests"}],"risks":["The current Zillow index blends rental types and asking-rent observations, so it may not match the bedroom count, utility treatment, condition, concessions, or lease terms of a specific available dwelling.","ACS gross rent, income, burden, and vacancy measures are ZCTA five-year survey estimates of households and housing stock, not contemporaneous records of individual listings, tenant payments, or applicant qualification.","The reported vacant-for-rent count and overall vacancy rate cannot prove that a particular home is market-ready, actively offered, physically habitable, or available at the published asking-rent index.","Redfin resale evidence reflects a rolling three-month for-sale sample. Median sold prices, marketing time, supply, and sale-to-list outcomes should not be treated as rental comparables or property operating results."],"qa":[{"a":"Zillow ZORI is a ZIP-level typical observed asking-rent index that blends rental types. It provides a current market benchmark, but it is neither a lease quote for a specified dwelling nor the ACS gross-rent median, which surveys occupied renter homes and includes selected utilities.","q":"What does the $1,445 Zillow figure represent?"},{"a":"The $57,800 figure comes from annualizing the current Zillow asking-rent index and dividing by 30%. The ACS median household income is a separate ZCTA survey statistic. Comparing them creates a standardized arithmetic screen, not a determination about whether any person can qualify for or afford a particular rental.","q":"Why is the required income higher than the local median household income?"},{"a":"No. They are modelled monthly ZIP estimates created by applying the local HUD bedroom ladder to the blended Zillow asking-rent index. HUD FMR or SAFMR is an administrative benchmark, and the resulting ladder does not measure actual asking rents, signed leases, unit condition, or included utilities by bedroom count.","q":"Are the bedroom rent figures observed rents for studios through four-bedroom homes?"},{"a":"The 5.35% figure is annualized ZIP ZORI divided by the direct ZIP median sold price. It is useful only as a cross-source screening ratio. It excludes property-specific purchase price, taxes, insurance, maintenance, financing, vacancy experience, utility responsibility, and all other operating details needed to assess an individual property.","q":"How should the rent-to-sale-price ratio be interpreted?"}],"sources":[{"key":"apartment_list_time_on_market","name":"Apartment List Time on Market — listing liquidity","release":"Apartment List 2026-07","pulledAt":"2026-08-08","url":"https://www.apartmentlist.com/research/category/data-rent-estimates"},{"key":"apartment_list_vacancy","name":"Apartment List Vacancy Index — rental vacancy","release":"Apartment List 2026-07","pulledAt":"2026-08-08","url":"https://www.apartmentlist.com/research/apartment-list-vacancy-index-methodology"},{"key":"census_zcta_facts","name":"Census ACS five-year — ZCTA housing and income","release":"ACS 2024 5-year ZCTA","pulledAt":"2026-08-08","url":"https://api.census.gov/data/2024/acs/acs5.html"},{"key":"hud_zip","name":"HUD USPS crosswalk and Small Area FMRs — ZIP rent fallback","release":"ZIP-CBSA 2025Q4 + SAFMR FY2026","pulledAt":"2026-07-26","url":"https://www.huduser.gov/portal/datasets/usps_crosswalk.html"},{"key":"realtor_county","name":"Realtor.com Economic Research — county listing inventory","release":"county inventory 2026-06","pulledAt":"2026-07-28","url":"https://www.realtor.com/research/data/"},{"key":"redfin","name":"Redfin Data Center — inventory, days on market, and price cuts","release":"metro tracker through 2026-05-01","pulledAt":"2026-07-26","url":"https://www.redfin.com/news/data-center/"},{"key":"redfin_zip","name":"Redfin Data Center — ZIP resale activity and supply","release":"ZIP rolling 3 months through 2026-06-30; updated 2026-07-03","pulledAt":"2026-08-12","url":"https://www.redfin.com/news/data-center/"},{"key":"zillow_county","name":"Zillow ZHVI and ZORI — county values and rents","release":"county ZHVI/ZORI 2026-06","pulledAt":"2026-07-26","url":"https://www.zillow.com/research/data/"},{"key":"zillow_zori","name":"Zillow ZORI — metro market rents","release":"Metro_zori_uc_sfrcondomfr_sm_sa_month.csv","pulledAt":"2026-07-26","url":"https://www.zillow.com/research/data/"},{"key":"zillow_zori_city","name":"Zillow ZORI — city market rents","release":"zillow_zori_city.csv","pulledAt":"2026-07-29","url":"https://www.zillow.com/research/data/"},{"key":"zillow_zori_zip","name":"Zillow ZORI — ZIP market rents","release":"ZORI ZIP 2026-06","pulledAt":"2026-08-08","url":"https://www.zillow.com/research/data/"}],"history":[{"period":"2020-07-01","rent":1003.216236},{"period":"2020-08-01","rent":1011.627668},{"period":"2020-09-01","rent":1009.559578},{"period":"2020-10-01","rent":1006.474615},{"period":"2020-11-01","rent":1008.851441},{"period":"2020-12-01","rent":1020.953533},{"period":"2021-01-01","rent":1033.501418},{"period":"2021-02-01","rent":1034.395626},{"period":"2021-03-01","rent":1028.819629},{"period":"2021-04-01","rent":1015.683199},{"period":"2021-05-01","rent":1013.918959},{"period":"2021-06-01","rent":1008.727836},{"period":"2021-07-01","rent":1020.083378},{"period":"2021-08-01","rent":1032.49629},{"period":"2021-09-01","rent":1046.830923},{"period":"2021-10-01","rent":1052.613658},{"period":"2021-11-01","rent":1047.204911},{"period":"2021-12-01","rent":1049.56532},{"period":"2022-01-01","rent":1058.886356},{"period":"2022-02-01","rent":1079.179071},{"period":"2022-03-01","rent":1095.266525},{"period":"2022-04-01","rent":1124.488097},{"period":"2022-05-01","rent":1145.585734},{"period":"2022-06-01","rent":1171.927927},{"period":"2022-07-01","rent":1169.527311},{"period":"2022-08-01","rent":1172.965511},{"period":"2022-09-01","rent":1175.657068},{"period":"2022-10-01","rent":1176.193279},{"period":"2022-11-01","rent":1189.052368},{"period":"2022-12-01","rent":1179.545812},{"period":"2023-01-01","rent":1187.099111},{"period":"2023-02-01","rent":1181.304215},{"period":"2023-03-01","rent":1195.566007},{"period":"2023-04-01","rent":1196.140373},{"period":"2023-05-01","rent":1199.795694},{"period":"2023-06-01","rent":1201.447368},{"period":"2023-07-01","rent":1212.421596},{"period":"2023-08-01","rent":1207.261084},{"period":"2023-09-01","rent":1203.41016},{"period":"2023-10-01","rent":1208.472638},{"period":"2023-11-01","rent":1222.732532},{"period":"2023-12-01","rent":1243.850397},{"period":"2024-01-01","rent":1238.075987},{"period":"2024-02-01","rent":1242.715631},{"period":"2024-03-01","rent":1240.506148},{"period":"2024-04-01","rent":1246.630149},{"period":"2024-05-01","rent":1242.020493},{"period":"2024-06-01","rent":1239.931879},{"period":"2024-07-01","rent":1253.204456},{"period":"2024-08-01","rent":1266.045584},{"period":"2024-09-01","rent":1269.707915},{"period":"2024-10-01","rent":1276.252007},{"period":"2024-11-01","rent":1280.955601},{"period":"2024-12-01","rent":1298.840495},{"period":"2025-01-01","rent":1313.111531},{"period":"2025-02-01","rent":1319.972934},{"period":"2025-03-01","rent":1339.441753},{"period":"2025-04-01","rent":1347.103226},{"period":"2025-05-01","rent":1357.14057},{"period":"2025-06-01","rent":1352.095747},{"period":"2025-07-01","rent":1352.053195},{"period":"2025-08-01","rent":1359.626917},{"period":"2025-09-01","rent":1374.308299},{"period":"2025-10-01","rent":1383.077481},{"period":"2025-11-01","rent":1386.474744},{"period":"2025-12-01","rent":1380.626866},{"period":"2026-01-01","rent":1388.21746},{"period":"2026-02-01","rent":1399.2092},{"period":"2026-03-01","rent":1399.883568},{"period":"2026-04-01","rent":1408.533413},{"period":"2026-05-01","rent":1421.025433},{"period":"2026-06-01","rent":1444.755245}],"historySummary":{"pointCount":72,"firstPeriod":"2020-07-01","latestPeriod":"2026-06-01","coverageMonths":72,"coverageRatio":1,"changes":{"1":{"years":1,"startPeriod":"2025-06-01","endPeriod":"2026-06-01","startRent":1352.095747,"endRent":1444.755245,"change":0.06853027842561499,"cagr":0.06853027842561499},"3":{"years":3,"startPeriod":"2023-06-01","endPeriod":"2026-06-01","startRent":1201.447368,"endRent":1444.755245,"change":0.20251230597393932,"cagr":0.06339964210898819},"5":{"years":5,"startPeriod":"2021-06-01","endPeriod":"2026-06-01","startRent":1008.727836,"endRent":1444.755245,"change":0.4322547603415199,"cagr":0.07449414882177008}},"maxDrawdown":-0.024814287062733587,"annualizedVolatility":0.026815306461252263,"consecutiveReturnCount":71}}