60416 — Will County, Illinois Market Snapshot
Housing market data for zip code 60416 in Will County, Illinois. Updated monthly with median prices, days on market, and more.
Market Sales Data
21 sales in 2026 (year to date)
Median Sale Price
$351,000
Days to Sell
52
Homes Sold
21
Inventory
21
Sale-to-List
99.6%
New Listings
30
Price/SqFt
$200
Pending Sales
24
Conforming Loan Available
Most homebuyers in 60416 can comfortably use conventional financing. The median home price of $351,000 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
60416's market is balanced with homes taking an average of 52 days to sell. Buyers have some negotiating room without the pressure of bidding wars.
Sale-to-List Ratio
Homes are selling very close to asking price in 60416 (99.6% sale-to-list ratio), indicating accurate pricing by sellers and steady demand.
Conforming Loan Feasibility
Most homebuyers in 60416 can comfortably use conventional financing. The median home price of $351,000 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 60416 are set at the county level.
2026 Loan Limits — Will County
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $541,287 |
| 2 Units | $1,066,250 | $693,050 |
| 3 Units | $1,288,800 | $837,700 |
| 4 Units | $1,601,750 | $1,041,125 |
Affordability Snapshot — Zip 60416
To purchase the median home at $351,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $2,839.
Monthly Payment
$2,839
Income Required
$121,682
Principal & Interest
$2,163/mo
Down Payment (5%)
$17,550
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 60416.
Estimated Monthly Payment
$2,322
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