The story of this market
The typical home in ZIP 60481 sells for about $274,000, or $209 per square foot.
Prices are up +2.5% from a year ago, so sellers still have some momentum. Homes take about 65 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,034 a month.
ZIP 60481 — Wilmington
The 60481 housing market is currently stable, characterized by a median home value of $274,000 and a high vacancy rate that suggests a challenging environment for investors. Demand remains steady for local buyers, though the market is not seeing the rapid appreciation found in more central metro areas. The area's reliance on the logistics-heavy economy of Will County continues to drive local housing needs.
This ZIP is best suited for local families and commuters who prioritize affordability over proximity to major urban centers, as the market requires active management for investors.
Median prices moved up 2.5% year over year.
Homes spend a median of 65 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 5.3% · poverty 10.0% — 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 5.8%/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 5.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 60481, Will County IL
Crime rates in the Wilmington area are generally lower than the national average, with property crime being the primary concern. The area is considered relatively safe compared to more urbanized parts of Will County.
Schools serving the 60481 ZIP code are primarily part of the Wilmington Community Unit School District 209, which generally maintains average performance ratings.
The area faces moderate risk from severe thunderstorms and occasional flooding near the Kankakee River, though wildfire risk is minimal.
Economic momentum is driven by logistics and manufacturing sectors in the broader Will County region, with ongoing residential development projects catering to commuters.
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.
Commuters typically rely on I-55 to reach employment hubs in Joliet or the greater Chicago area, with commute times often exceeding 45 minutes.
The area features access to the Kankakee River for boating and fishing, as well as local parks and proximity to the Midewin National Tallgrass Prairie.
The rental market is characterized by a high vacancy rate of approximately 17.6%, suggesting a challenging environment for passive investors.
The economy is heavily influenced by the logistics, warehousing, and manufacturing sectors prevalent in the I-55 corridor of Will County.
Transportation is primarily highway-dependent, with I-55 serving as the main artery for regional connectivity.
Development is focused on expanding residential subdivisions and industrial logistics capacity on the city's periphery.
The Will County Supervisor of Assessments oversees the assessment process, which is based on a three-year rolling average of market values.
Parcels are subject to various taxing bodies including Wilmington CUSD 209, Will County, and local fire protection districts.
Property insurance premiums are stable but reflect regional risks associated with severe weather events common in Northern Illinois.
Data retrieved from data.census.gov ZCTA profiles.
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.
A massive protected area offering extensive hiking and wildlife viewing.
Provides significant recreational opportunities including fishing and boating.
Key-figure check: median price corroborated by the prior refresh cycle (within 12.5%).