Airbnb Market Analytics & Investment Insights
Annual Revenue
$29,305
Based on 293 full time Airbnb rentals
Average Daily Rate
$114
Gross Yield
As of October of 2024, Homes in 60640 ZIP Code have appreciated by 4.67%, with the median home value standing at $299,415, according to Zillow.
There are currently 293 active short-term rentals in 60640 ZIP Code. The average daily rate for these rentals is $114. This translates to an annual revenue of $29,305 for short-term rentals as of October of 2024.
60640 ZIP Code is an investor-friendly location with short-term rental regulations favorable to those looking to invest in short-term rentals.
Average Daily Rate Trend
$114
Occupancy Rate Trend
73%
Let our agents guide you to the best short-term rental investments in Chicago, IL
As of October of 2024, the average gross yield for short-term rentals in 60640 ZIP Code is 9.73%. However, potential investors should also consider the average property tax, which stands at 2.10% according to SmartAsset.
The median household income in 60640 is $58,231.
As of October of 2024, the occupancy rate for Airbnb rentals in 60640 is 73%, which is higher than the average occupancy rate for the United States.
Discover the leading hosts in Chicago ranked by guest ratings and active listings. These hosts combine scale with exceptional guest satisfaction, setting the benchmark for success.
Level leads the market with 201 active listings and maintains an exceptional 4.67 average guest rating.
Blueground leads the market with 163 active listings and maintains an exceptional 4.41 average guest rating.
Milan leads the market with 144 active listings and maintains an exceptional 4.97 average guest rating.
These top performers serve as benchmarks for what drives success in Chicago's competitive short-term rental scene. Their strategies combine operational efficiency with outstanding guest experiences, making them the gold standard for aspiring hosts and property managers in the area.
10 hosts available
As of October of 2024 The unemployment rate in 60640 ZIP Code is 6%, which is higher than the national average of 4.1%.
The most impactful amenities for short-term rentals in 60640 include a Outdoor shower, Ping pong table, and Changing table.
60640 ZIP Code is a popular destination for travelers, with Airbnb demand coming from cities like Chicago, IL (6.90% of all guests), New York, NY (2.84% of all guests), and Los Angeles, CA (2.14% of all guests).
The top short-term rental hosts in 60640 ZIP Code include Level, Blueground and Milan. These hosts have an average rating of 4.67, 4.41 and 4.97 respectively.
The most popular property types in 60640 ZIP Code are 2-bedroom units, with an average daily rate of $114 and an annual revenue of $33,803.
The average booking lead time for short-term rentals in 60640 ZIP Code is 63 days.
Disclaimer
This page and the data presented are for informational purposes only. The information provided should not be construed as financial, legal, or investment advice. Market conditions can change rapidly, and past performance does not guarantee future results. Always consult with qualified professionals before making investment decisions.
9.73%
Occupancy Rate
73%