ZIP 61016 · Cherry Valley, Illinois

Population

5,465 people call ZIP 61016 home.

5,465

people.

Census ACS 5-year, 2020-2024. Sources: Census ACS 5-year

Rent

Median rent is up 33% since the 2010–2014 survey, before inflation.

$1,021

a month. Illinois's median is $1,274.

Census ACS 5-year, 2020-2024 (latest), with earlier 5-year windows. Sources: Census ACS 5-year

Room to build

Local wages can carry more rent than the median charged today.

$1,104–$1,656

is the monthly rent range local workforce wages support.

• $1,021 median

Supportable rent computed by the Almanac from 2023 source wage data. Median rent: Census ACS 5-year, 2020-2024. Sources: Computed by the Almanac, Census ACS 5-year

Building

70% of the housing here was built before 2000.

• 70% of all homes were built before 2000

Census ACS 5-year, 2020-2024. Sources: Census ACS 5-year

Units needed

Closing the gap would add 0.1–0.3% to the 2,325 homes here.

2–8

is the estimated number of missing housing units, from the lowest to the highest of three estimates.

Range computed by the Almanac from 2023 jobs and household data, using three demand models: 1% of jobs located here, 1% of renter households, and a rate by town size applied to renters. The low end is the lowest of the three and the high end the highest. It is an estimate, not a count. Sources: Computed by the Almanac

Home value

A median home costs 12% less than Illinois's.

$231,200

median home value in ZIP 61016.

• $231,200 ZIP 61016
• $263,300 Illinois
• $332,700 U.S.

Census ACS 5-year, 2020-2024. Sources: Census ACS 5-year