What is the median home value in ZIP 60503 in Will County, IL?

The median home value in ZIP 60503 in Will County, IL is $407,447, according to the latest Census ACS 5-Year Estimates.

What is the rent-to-income ratio in ZIP 60503?

The rent-to-income ratio in ZIP 60503 is 25.9%, based on HUD Fair Market Rent divided by Census median household income. This is within the affordable range (under 30% of household income).

Chicago-Naperville-Elgin, IL-IN-WI · Illinois

Will County

ZIP 60503

698,450 residents2,002 permits TTM$107,799 median HHI30 ZIP codesUpdated April 16, 2026

Investor first look

Median home value

$298,000

ACS 5-Year

Cap rate proxy

5.3%

FMR × 0.65 ÷ Home Value

Rent-to-income

15.7%

HUD FMR ÷ ACS HHI

Net migration

+2.16%

IRS SOI

Permits (TTM)

2,002

Census BPS

Climate risk

97.3

FEMA NRI (0–100)

ZIP 60503

Median home value

$407,447

Gross yield

7.4%

Cap rate

6.8%

Rent gap

7.0%

Affordability

P/I: 3.8R/I: 25.9%

Section 8 detail

SAFMR: $2,500Rent: $1,413Gap: 76.9%

ZIP code breakdown30 ZIP codes

ZIP	Median home value	Rent (FMR 2BR)	Gross yield	Cap rate	Rent gap
60484	$186,609	$1,840	11.8%	9.1%	23.2%
60436	$214,843	$1,660	9.3%	7.9%	14.9%
60432	$193,471	$1,560	9.7%	8.8%	9.4%
60433	$202,238	$1,590	9.4%	8.4%	11.1%
60446	$311,490	$2,310	8.9%	8.2%	8.2%

Ranked by composite score

Median home value	Rent (FMR 2BR)	Gross yield	Cap rate	Rent gap
$343,924	$1,880	6.6%	9.3%	-41.2%
$383,955	$2,600	8.1%	8.6%	-6.0%
$320,681	$2,060	7.7%	8.4%	-9.5%
$349,529	$1,880	6.5%	8.3%	-27.9%
$407,447	$2,500	7.4%	6.8%	7.0%
$264,196	$1,630	7.4%	6.5%	12.9%
$263,468	$1,290	5.9%	6.4%	-9.5%
$273,729	$1,510	6.6%	6.2%	6.4%
$276,249	$1,690	7.3%	6.1%	16.4%
$289,205	$1,570	6.5%	5.9%	10.0%
$308,463	$1,380	5.4%	5.5%	-2.4%
$310,764	$1,410	5.4%	5.5%	-0.2%
$328,537	$1,330	4.9%	5.2%	-6.2%
$334,611	$1,500	5.4%	5.1%	5.8%
$372,737	$2,100	6.8%	4.5%	32.7%
$379,418	$2,330	7.4%	4.5%	39.4%
$383,290	$1,390	4.4%	4.4%	-1.6%
$670,193	$2,670	4.8%	4.4%	7.9%
$401,167	$2,390	7.1%	4.2%	40.9%
$434,085	$1,850	5.1%	3.9%	23.6%
$434,468	$1,630	4.5%	3.9%	13.3%
$477,421	$2,670	6.7%	3.6%	47.1%
$480,627	$1,840	4.6%	3.5%	23.2%
$495,771	$2,070	5.0%	3.4%	31.7%
$540,818	$2,670	5.9%	3.1%	47.1%

Demographics

Owner-occupied

82.5%

Census ACS

Vacancy rate

4.5%

Census ACS

Bachelor's degree +

36.5%

Census ACS

Rent burdened

45.4%

Census ACS (>30% income)

Median age

38.9

Census ACS

Data sources

U.S. Census Bureau — American Community Survey 5-Year Estimates

U.S. Census Bureau — Building Permits Survey

U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)

Internal Revenue Service — Statistics of Income Migration Data

FEMA — National Risk Index

Last updated: April 16, 2026

Will County

See all 30 ZIPs ranked by yield and cap rate