ACS 2021 release
2017-2021 five-year estimate
- Median home value B25077
- $205,000Margin of error ±$12,500
- Median gross rent B25064
- $1,000Margin of error ±$441
- Population B01003
- 3,838Margin of error ±89
Rental market · ZIP 60421 · Elwood, IL
ZIP 60421, Elwood, IL rental market
Population 3,649 · Elwood, Will County, IL · ZIP Code Tabulation Area
Profile · ACS 2024 5-year
Not ranked
The survey value/rent margins of error are too wide (> 40%) to rank this area confidently.
It stays searchable; available government estimates remain below (data tier: Profile).
Key metrics
3,649
Population
±240 ±6.6% tight
$272,100
Median home value (ACS, owner-reported)
±$14,000 ±5.3% tight
$1,188
Median gross rent (ACS, incl. utilities)
±$550 ±47% wide
5.2%
Survey gross-rent yield (proxy)
Derived from ACS estimates: no published margin of error
$103,083
Median household income
±$19,000 ±18.1% moderate
10.1%
Rental vacancy
Derived from ACS estimates: no published margin of error
12.5%
Renter share
Derived from ACS estimates: no published margin of error
1.9%
Estimated property-tax burden
Derived from ACS estimates: no published margin of error
1990
Median year built
±6 years margin in years; a share of a year number would not mean anything
3.7%
Multifamily (5+ units)
Derived from ACS estimates: no published margin of error
Market context
Trend context
Loading home value context…
View source data
Each point is one ACS 5-year estimate on the same 2020-Census ZCTA boundary. Adjacent releases overlap, so the release-to-release differences are not independent annual market movement.
| Series | 2017–2021 | 2018–2022 | 2019–2023 | 2020–2024 |
|---|---|---|---|---|
| Median home value B25077 | $205,000 ±$12,500 | $232,900 ±$11,821 | $251,400 ±$14,773 | $272,100 ±$14,506 |
| Median gross rent B25064 | $1,000 ±$441 | $1,050 ±$457 | $989 ±$602 | $1,188 ±$553 |
| Population B01003 | 3,838 ±89 | 3,850 ±74 | 3,786 ±115 | 3,649 ±240 |
ACS 2022 release
2018-2022 five-year estimate
- Median home value B25077
- $232,900Margin of error ±$11,821
- Median gross rent B25064
- $1,050Margin of error ±$457
- Population B01003
- 3,850Margin of error ±74
ACS 2023 release
2019-2023 five-year estimate
- Median home value B25077
- $251,400Margin of error ±$14,773
- Median gross rent B25064
- $989Margin of error ±$602
- Population B01003
- 3,786Margin of error ±115
ACS 2024 release
2020-2024 five-year estimate
- Median home value B25077
- $272,100Margin of error ±$14,506
- Median gross rent B25064
- $1,188Margin of error ±$553
- Population B01003
- 3,649Margin of error ±240
Source: U.S. Census Bureau, American Community Survey 5-year, table-based Summary File (ZCTA geography); tables B25077 (median value), B25064 (median gross rent), and B01003 (population); estimate + margin of error. Missing releases remain gaps and are never interpolated. Home value is owner-reported; gross rent describes renter housing stock; population is a ZCTA estimate. Dollar figures are nominal.
Measured market data
Measured observations for this ZIP Code, published beside the government survey figures above rather than replacing them. They measure different things and will legitimately disagree; the reconciliation below states on which axis, one axis at a time, instead of leaving a reader to guess. ZORI does not correct the ACS rent; neither is a better version of the other. Monthly series, revised in recent months, observed 2026-08, not live.
| Figure | ACS survey estimate | Zillow measured index |
|---|---|---|
| Typical home value | $272,100±$14,000, the Census Bureau’s published 90% margin of error | $320,616no published margin of error |
| Methodology typical home value | The median of what owners themselves estimate their own home to be worth, across owner-occupied homes only. | A smoothed index of the typical value of homes in the middle tier (35th to 65th percentile) of the local stock, whether or not they sold. |
| Source | U.S. Census Bureau, American Community Survey 5-year estimates. | Zillow Economic Research public research data. |
| Vintage | ACS 2024 5-year: one estimate pooled over 2020–2024. Restated once a year, not monthly, and adjacent releases overlap. | Monthly series, observed 2026-08 and revised in recent months. Not live. |
| Geography | 2020 Census ZIP Code Tabulation Area 60421. | USPS ZIP code 60421: a related, but not identical, area. |
The index for typical home value is $48,516 higher than the survey estimate, whose own 90% margin of error is ±$14,000: the two are separated by more than survey sampling error alone accounts for. A gap of either size is expected when the source, vintage, methodology and geography all differ, and is not evidence that either figure is wrong. Neither figure corrects the other, and no margin of error is implied for the index, which publishes none.
| Zillow Home Value Index (ZHVI, mid tier) | $320,616 |
|---|---|
| ZHVI bottom tier (5th–35th pct) | $270,474 |
| ZHVI top tier (65th–95th pct) | $419,098 |
| Market heat index | 58 |
| For-sale inventory | 13 |
| Measured 3-yr value growth | 4.67%/yr |
| Measured 5-yr value growth | 5.25%/yr |
| Measured 10-yr value growth | 5.48%/yr |
| ZHVI, 3-bedroom | $321,924 |
| ZHVI, 4-bedroom | $370,425 |
Source: Zillow Economic Research public research data, observation month 2026-08. Zillow keys on USPS ZIP codes; this page is a 2020 Census ZCTA, related but not identical geographies, so a Zillow value is matched to this ZCTA by code and is not a statement that the two areas are the same. Zillow is not affiliated with, and does not endorse, Compounding Estates.
Underwrite with these as starting points
Opening a calculator pre-loads the ACS median owner value and median gross rent as a survey-level starting point; every calculator input is editable. Owner-occupied median value and renter median gross rent describe different housing stock: the median-valued home is not the typical rental, so this is a screen, not a listing, appraisal, asking rent, cap rate, or forecast. Bring your own entry price and rent.
ZIP Codes bordering 60421
5 ZIP Code areas share a land boundary with 60421 in the official Census 2020 ZCTA map, ordered by shared-boundary length, not ZIP-number proximity or driving distance. 5 of them are in CE’s ranked set and are listed below, each with its own Rental Investor ZIP Score, grade and national rank, read from the same published dataset as this page. The rest are counted here and searchable from the ZIP Code explorer. A neighbour’s score is a score for that area, never for 60421, and this list is ordered by border length, so it is not a ranking and no neighbour is called best.
Evidence, sources & limitations
Official geography: Elwood village, Will County. Analytical entity: the U.S. Census ZIP Code Tabulation Area (ZCTA) 60421, an approximation of the USPS ZIP delivery area, not its exact route boundaries. Model z3-measured-v1; data ACS 2024 5-year.
This ZIP Code area is primarily in Will County, overlapping Elwood and other places, by land-area overlap from the official Census 2020 ZCTA relationship files (not population or address share).
| Population | survey ACS B01003 · ±6.6% margin of error |
|---|---|
| Median home value (ACS, owner-reported) | survey ACS B25077 · ±5.3% margin of error |
| Median gross rent (ACS, incl. utilities) | survey ACS B25064 · ±47% margin of error |
| Survey gross-rent yield (proxy) | derived 12 * ACS B25064 / B25077 · no published margin of error |
| Median household income | survey ACS B19013 · ±18.1% margin of error |
| Rental vacancy | derived ACS B25004 E002 / (B25003 E003 + B25004 E002) · no published margin of error |
| Renter share | derived ACS B25003 E003/E001 · no published margin of error |
| Estimated property-tax burden | derived ACS B25103 / B25077 · no published margin of error |
| Median year built | survey ACS B25035 · ±<1% margin of error |
| Multifamily (5+ units) | derived ACS B25024 (5+ unit structures / total) · no published margin of error |
Class: survey = ACS estimate (with margin of error); derived = computed from ACS. The survey gross-rent yield is a proxy (renter gross rent vs owner-occupied value, different housing stock; ACS top-codes very high values/rents) and is not a cap rate. Subscores are national percentiles among data-eligible areas; ranks are competition-ranked with deterministic ties. No vendor, listing, parcel, or school data. Not investment advice.