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Rent in ZIP code 60616, Chicago, IL
HUD's Fair Market Rent for this one ZIP code, about 2.3 miles from downtown Chicago, as of October 2026.
A 1-bedroom in 60616 is $2,010 a month on HUD's FY2027 Small Area Fair Market Rent, utilities included, 25% below the downtown Chicago median of $2,670. Studios run $1,890, 2-bedrooms $2,270. Listings in the ZIP ask $1,801 on Zillow's index.
- Studio
- $1,890HUD, utilities in
- 1 bedroom
- $2,010HUD, utilities in
- 2 bedroom
- $2,270HUD, utilities in
- 3 bedroom
- $2,920HUD, utilities in
- Asking rent
- $1,801Zillow, all homes
- Rank near downtown
- 3of 16cheapest first
Rent by bedroom in 60616
Every ZIP code near downtown Chicago
| ZIP | Studio | 1 bedroom | 2 bedroom | 3 bedroom | Zillow asking |
|---|---|---|---|---|---|
| 60601 | $2,520 | $2,670 | $3,020 | $3,880 | $3,039 |
| 60602 | $2,520 | $2,670 | $3,020 | $3,880 | n/a |
| 60603 | $2,470 | $2,620 | $2,960 | $3,810 | $2,484 |
| 60604 | $2,520 | $2,670 | $3,020 | $3,880 | n/a |
| 60605 | $2,520 | $2,670 | $3,020 | $3,880 | $2,764 |
| 60606 | $2,520 | $2,670 | $3,020 | $3,880 | $2,755 |
| 60607 | $2,520 | $2,670 | $3,020 | $3,880 | $2,984 |
| 60608 | $1,440 | $1,530 | $1,730 | $2,220 | $1,867 |
| 60610 | $2,520 | $2,670 | $3,020 | $3,880 | $2,945 |
| 60611 | $2,520 | $2,670 | $3,020 | $3,880 | $2,911 |
| 60612 | $1,780 | $1,890 | $2,130 | $2,740 | $2,411 |
| 60616 | $1,890 | $2,010 | $2,270 | $2,920 | $1,801 |
| 60622 | $2,340 | $2,490 | $2,810 | $3,610 | $2,563 |
| 60642 | $2,520 | $2,670 | $3,020 | $3,880 | $2,692 |
| 60654 | $2,520 | $2,670 | $3,020 | $3,880 | $2,912 |
| 60661 | $2,520 | $2,670 | $3,020 | $3,880 | $2,619 |
ZIP codes that touch a 2-mile circle around downtown. Source: HUD Small Area Fair Market Rents FY2027, read Oct 2026. The city page has walkability, internet, transit, weather and everything else: Chicago, IL for digital nomads.
Questions people ask
How much is rent in ZIP code 60616?
As of October 2026, HUD's FY2027 Small Area Fair Market Rent for ZIP 60616 is $1,890 for a studio, $2,010 for a 1-bedroom, $2,270 for a 2-bedroom and $2,920 for a 3-bedroom, utilities included. That is the 40th-percentile rent paid by recent movers. Zillow's Observed Rent Index for the ZIP, which reflects what listings ask today across all home types, is $1,801 (Aug 2026).
Is 60616 cheaper than the rest of downtown Chicago?
Yes, by 25%. The median 1-bedroom across the 16 ZIP codes within 2 miles of downtown Chicago is $2,670; 60616 ranks 3 of 16, cheapest first. Across the whole metro area HUD's figure is $1,780, 11% less than this ZIP.