ZIP Code 60423: Population, Income, Housing

State: IL
Total population: 32,836 Household income: $136,730 Rent: $1,492

Overview

Total population
32,836
Rent
$1,492
Year built
1993
Household income
$136,730
Per capita income
$57,575
Poverty rate
4.5%
Unemployment rate
N/A
Household size
2.9 persons
Rent over 30% of income
29.8%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

ZIP data use Census ZCTAs, which closely match USPS ZIP Codes in most cases (see FAQ for details).

Data are sourced from the American Community Survey (ACS) 5-Year Estimates, 2024 release — the latest dataset currently available. New 5-year estimates are published annually, about 6–12 months after the end of each reference year.

Demographics

State
Illinois
County
Will County
City
Frankfort
Total population
32,836
Adults over 25
21,800
Total households
11,162
Household size
2.9 persons

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

ZIP data use Census ZCTAs, which closely match USPS ZIP Codes in most cases (see FAQ for details).

Data are sourced from the American Community Survey (ACS) 5-Year Estimates, 2024 release — the latest dataset currently available. New 5-year estimates are published annually, about 6–12 months after the end of each reference year.

Income & Poverty

Household income
$136,730
Per capita income
$57,575
Poverty rate
4.5%
Unemployment rate
N/A
Rent over 30% of income
29.8%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

ZIP data use Census ZCTAs, which closely match USPS ZIP Codes in most cases (see FAQ for details).

Data are sourced from the American Community Survey (ACS) 5-Year Estimates, 2024 release — the latest dataset currently available. New 5-year estimates are published annually, about 6–12 months after the end of each reference year.

Housing

Rent
$1,492
Year built
1993
Households that rent
6%
Households that own
94%
Rooms per home (all homes)
7.5

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

ZIP data use Census ZCTAs, which closely match USPS ZIP Codes in most cases (see FAQ for details).

Data are sourced from the American Community Survey (ACS) 5-Year Estimates, 2024 release — the latest dataset currently available. New 5-year estimates are published annually, about 6–12 months after the end of each reference year.

Race

White
75.8%
Black
8.1%
Asian
2.4%
Two or more races
11.7%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

ZIP data use Census ZCTAs, which closely match USPS ZIP Codes in most cases (see FAQ for details).

Data are sourced from the American Community Survey (ACS) 5-Year Estimates, 2024 release — the latest dataset currently available. New 5-year estimates are published annually, about 6–12 months after the end of each reference year.

Ethnicity

Hispanic or Latino
8.6%
Not Hispanic or Latino
91.4%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

ZIP data use Census ZCTAs, which closely match USPS ZIP Codes in most cases (see FAQ for details).

Data are sourced from the American Community Survey (ACS) 5-Year Estimates, 2024 release — the latest dataset currently available. New 5-year estimates are published annually, about 6–12 months after the end of each reference year.

Commute

Commute rate
12,534 (80.8%)
Commute time to work
32 mins
Work from home
2,975 (19.2%)

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

ZIP data use Census ZCTAs, which closely match USPS ZIP Codes in most cases (see FAQ for details).

Data are sourced from the American Community Survey (ACS) 5-Year Estimates, 2024 release — the latest dataset currently available. New 5-year estimates are published annually, about 6–12 months after the end of each reference year.

Education

Less than high school
22.4%
High school graduate or GED
20.3%
Some college or associate degree
8.8%
Bachelor’s degree or higher
48.5%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

ZIP data use Census ZCTAs, which closely match USPS ZIP Codes in most cases (see FAQ for details).

Data are sourced from the American Community Survey (ACS) 5-Year Estimates, 2024 release — the latest dataset currently available. New 5-year estimates are published annually, about 6–12 months after the end of each reference year.

 

Comparison of ZIP Code 60423 with: Will County, IL Chicago metro area, IL-IN Illinois United States

ZIP 60423

Total population32,836
Rent$1,492
Year built1993
Household income$136,730
Per capita income$57,575
Poverty rate4.5%
Unemployment rateN/A

Will County, IL

Total population701,462
Rent$1,462
Year built1992
Household income$109,984
Per capita income$47,516
Poverty rate7.3%
Unemployment rate4.4%

Chicago Metro Area, IL-IN

Total population9,371,595
Rent$1,430
Year built1971
Household income$90,887
Per capita income$49,513
Poverty rate11.2%
Unemployment rate5.1%

Illinois State

Total population12,694,798
Rent$1,274
Year built1971
Household income$83,390
Per capita income$46,406
Poverty rate11.8%
Unemployment rate5%

United States

Total population334,922,499
Rent$1,413
Year built1980
Household income$80,734
Per capita income$44,673
Poverty rate12.5%
Unemployment rate4%
Metric ZIP60423 CountyWill, ILMetro AreaChicago metro area, IL-INStateIllinoisCountryUnited States
Total population32,836701,4629,371,59512,694,798334,922,499
Rent$1,492$1,462$1,430$1,274$1,413
Year built19931992197119711980
Household income$136,730$109,984$90,887$83,390$80,734
Per capita income$57,575$47,516$49,513$46,406$44,673
Poverty rate4.5%7.3%11.2%11.8%12.5%
Unemployment rateN/A4.4%5.1%5%4%

View the full multi-level comparison →

 

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Summary for 60423

Rent & Income

In 60423, the typical monthly rent is $1,492 and the typical household income is $136,730. Rent here is higher than Illinois, and household income is higher than Illinois. The estimated poverty rate is 4.5%.

Housing & Affordability

This ZIP Code is primarily owner-occupied, with renters accounting for about 6% of households. Around 29.8% of renters are cost-burdened, indicating a moderate level of rent pressure.

Education & Employment

Educational attainment is very high, with about 48.5% of adults holding a bachelor’s degree or higher.

 

ZIP 60423 — Rent vs Household Income

 

 

ZIP 60423 — Poverty

 

 

How ZIP 60423 compares in Illinois (140 ZIP Codes)

Metric This ZIP Rank Starts from State range
Rent $1,492 79 / 140 from lower rent $810 – $2,585
Household income $136,730 12 / 140 from higher income $27,539 – $181,382
Poverty rate 4.5% 13 / 140 from lower poverty 2.4% – 47.8%

Rankings are calculated among ZIP Codes in Illinois with total population > 30,000 (year 2024).

 

Detailed Ranking Explanation for ZIP Code 60423

Rent

Rent-wise, this area comes 79th out of 140 ZIP Codes in Illinois. At the state level, values extend from $810 in ZIP 61401 up to $2,585 in ZIP 60010.

Household income

Looking at income levels, ZIP Code 60423 holds the 12th out of 140 ZIP Codes. In Illinois as a whole, the range goes from $27,539 in ZIP 61820 up to $181,382 in ZIP 60564.

Poverty rate

Regarding poverty rate, ZIP Code 60423 ranks 13th out of 140 ZIP Codes. Statewide, values range from 2.4% in ZIP 60451 up to 47.8% in ZIP 61820.

 

💰 Rent in ZIP Code 60423 (with Utilities)

Estimated Monthly Rent: $1,492 ℹ️ What’s Included:
✅ Base rent, electricity, gas, water/sewer, and heating fuels
❌ Not included: internet, cable TV, renter's insurance, parking

💡 What does this rent estimate mean?

Explanation: This estimate shows what renters typically pay each month for housing — including the apartment or home and essential utilities like heat, water, and electricity.

Included in this number: Rent plus electricity, gas, water/sewer, and heating fuel.

Not included: Internet, cable, parking, renter’s insurance, or furniture rental.

Note: This cost does not depend on the number of people living in the home.

👨‍👧‍👦 Household Income in ZIP Code 60423

Annual Household Income: $136,730

💡 What does Household Income mean?

Definition: This represents the middle value of all household incomes in the ZIP code — half of households earn less, and half earn more.

Includes: wages, salaries, self-employment income, Social Security, pensions, investments, unemployment, public assistance, and rental income.

Does NOT include: capital gains, non-cash benefits (like food stamps), or tax refunds.

Household = any group of people (or a single person) living in the same housing unit.

Example: A couple earning $40,000 and $30,000 together have a household income of $70,000. If that's in the middle of all local incomes, it's the value shown here.

📉 Poverty Rate in ZIP Code 60423

Estimated Rate: 4.5%

💡 What does the Poverty Rate represent?

Definition: The percentage of people in this area living below the federal poverty threshold.

How it works: The threshold is a dollar amount set by the U.S. Census Bureau that varies by family size and age. If a household's income is below that level, everyone in it is included in this rate.

Example: In a town of 10,000 people, if 1,500 have incomes below the poverty line, the poverty rate is 15%.

Note: This statistic only includes people living in households; it does not count those in student housing, military barracks, or nursing homes.

🏘️ Renter vs. Owner Households in ZIP Code 60423

In ZIP Code 60423, households that rent: 667 (6%)

📊 What does the renter household percentage reveal about this ZIP Code?
Household Type Count Share
Renter-Occupied 667 6%
Owner-Occupied 10,495 94%

Definition: This is the percentage of households that rent their home rather than own it. It includes only occupied housing units.

Why it matters: Areas with a high share of renter households often have younger populations, higher mobility, and different housing needs compared to mostly owner-occupied areas.

Example: If 65% of homes in an area are renter-occupied, it means 65 out of every 100 households rent their home.

📉 Renters Spending Over 30% of Income on Rent in ZIP Code 60423

In ZIP Code 60423, cost-burdened renters (households spending over 30% of income on housing): 199 (29.8%)

🏚️ What Does It Mean When Renters Spend Over 30% of Their Income on Housing?
Household Group Households Share
Cost-burdened renters (over 30%) 199 29.8%
Other renter households 468 70.2%
Total renter households 667 100%

Shares are calculated as a percentage of renter households.

This shows how many renters in the ZIP code are considered cost-burdened — meaning they spend more than 30% of their income on housing (rent and basic utilities).

It’s a sign that housing might be unaffordable in the area or that lower-income residents may be struggling with rent.

Data comes from the U.S. Census Bureau’s American Community Survey.

📊 Education Levels in ZIP Code 60423

Less than High School: 4,887 people (22.4%)

Includes adults who did not complete high school.

High School Graduate or GED: 4,423 people (20.3%)

Includes adults whose highest education is a high school diploma or GED.

Some College or Associate Degree: 1,908 people (8.8%)

Includes adults who attended college without completing a bachelor’s degree (some college or associate degree).

Bachelor’s Degree or Higher: 10,582 people (48.5%)

Includes adults with a bachelor’s degree or higher (bachelor’s, master’s, professional, or doctoral degree).

👥 Total Adults (25+): 21,800

ℹ️ Have questions about how these statistics are calculated? See our data methodology & FAQs

 

Source: ACS 5-Year Estimates (U.S. Census Bureau) — unemployment rate from BLS. Some values are derived metrics.