The story of this market
The typical home in ZIP 60416 sells for about $317,450, or $175 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 29 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,128 a month.
ZIP 60416 — Coal City
The Coal City housing market shows steady demand with a median price of $317,450 and a healthy sale-to-list ratio of 98.5%. Low inventory levels continue to support price appreciation, though the market remains sensitive to broader economic shifts in the Chicago metro area.
This ZIP is well-suited for family buyers seeking a suburban lifestyle with more space, as well as commuters who prioritize affordability over proximity to the Chicago urban core.
Median prices moved up 2.1% year over year.
Homes spend a median of 29 days on market with 3.2 months of supply — a fast-moving market.
15% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.6% · poverty 6.2% — 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 7.5%/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 5.2%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 60416, Illinois
Coal City generally experiences low crime rates compared to regional averages in the Chicago metropolitan area, with property crime being the most frequently reported incident type.
The area is served by Coal City Community Unit School District 1, which is generally regarded as providing stable, community-focused educational opportunities for local families.
The region is subject to standard Midwestern weather risks, including severe thunderstorms and occasional high winds; flood risk is localized to specific low-lying areas near the Kankakee River.
Economic momentum is driven by proximity to regional logistics hubs and manufacturing centers in Grundy and Will counties, with steady residential development supporting a growing commuter base.
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.
Residents primarily commute via I-55 toward the Joliet and Chicago employment corridors, with average commute times reflecting the suburban-to-exurban nature of the area.
The area features access to local parks, the nearby Kankakee River for outdoor activities, and proximity to regional shopping and dining options in neighboring Morris and Joliet.
The rental market is characterized by moderate demand from families and commuters, with limited inventory keeping vacancy rates relatively low and rents stable.
The local economy is supported by a mix of manufacturing, logistics, and service-sector employers, with many residents commuting to larger employment centers in the Chicago metro area.
Transportation is heavily reliant on personal vehicles, with I-55 serving as the primary artery for regional connectivity.
Development is focused on residential infill and expansion of local infrastructure to support the growing population.
The Grundy County Assessor manages property valuations, with assessments typically updated on a cyclical basis to reflect market changes.
Parcels are subject to levies from Coal City CUSD 1, Grundy County, and local municipal taxing bodies.
Property insurance premiums are influenced by regional weather patterns, with standard coverage for wind and storm damage being essential.
Data retrieved from US Census Bureau ACS tables for ZCTA 60416.
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.
Provides local recreational facilities and community programming.
Offers fishing, boating, and scenic outdoor access nearby.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.