The story of this market
The typical home in ZIP 60407 sells for about $191,000, or $125 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 68 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,510 a month.
ZIP 60407 — Braceville
The housing market in 60407 remains stable with low inventory and modest price appreciation. Demand is driven by local residents and those seeking affordable rural living, though limited sales volume reflects the small population size.
This ZIP is best suited for budget-conscious family buyers and individuals seeking a quiet, rural lifestyle with access to regional employment hubs.
Median prices moved up 2.1% year over year.
Homes spend a median of 68 days on market with 4.2 months of supply — a balanced-paced market.
15% of listings have cut prices · homes sell at 97.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.3% · poverty 11.2% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 4.2%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 60407, Grundy County IL
The area is served by local districts with generally stable performance ratings, though specific school-level data for this rural ZIP is limited.
The region is subject to standard Midwestern weather risks, including severe thunderstorms and occasional high winds; flood risk is generally low but varies by proximity to local waterways.
Economic momentum is driven by proximity to regional industrial hubs in Grundy County and the broader Chicago exurbs, with limited new residential development.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Illinois) — Property Tax Assessment (Fair Cash Value): Property is assessed at 33 1/3% of its fair cash value. The tax bill is calculated by multiplying the equalized assessed value (EAV) by the aggregate tax rate of the local taxing districts.
Commuting typically requires personal vehicle use, with access to regional highways providing connections to employment centers in Morris and the greater Chicago metropolitan area.
The area offers access to rural outdoor spaces, local parks, and proximity to the Illinois River for fishing and boating, with limited immediate commercial shopping.
The rental market is characterized by low inventory and steady demand from local workers, with limited short-term rental activity.
The local economy is primarily supported by agriculture, regional logistics, and manufacturing sectors within Grundy County.
Transportation is heavily reliant on private vehicle transit via local state routes connecting to major interstate corridors.
Development is currently limited to small-scale residential infill and agricultural land use.
The Grundy County Assessor manages property valuations based on market-value assessments and state-mandated equalization factors.
Parcels are subject to local school district, community college, and county-level taxing authorities.
Property insurance premiums are influenced by regional weather patterns and the rural nature of the housing stock.
Data retrieved from US Census Bureau ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Local community green space for recreation.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.