Nursing Care Facilities Market: ZIP 62240
Opportunity Score
46
/ 100
Fair
Based on walkability, population density, income levels, and local business competition.
Market Summary
ZIP 62240 is an urban area. with a population of 1,994 and household incomes near the national median ($70,298).
Area Profile
1,994
Population
$70,298
Median Income
-6% vs. national
Urban
Area Type
Median Age: 29.1 —
young market, strong street food demand.
College-Educated: 4.2% —
value-focused market, keep prices competitive.
Operating Costs
Local cost levels affect space, labor, and operating expenses.
$1,310
2BR Fair Market Rent
$835
Median Gross Rent
$85 K
Median Home Value
Tips for Starting a Elder Care Business in Illinois
- State licensing for assisted living takes 6-12 months and involves facility inspections, staffing plans, and background checks. Start early.
- Staffing is your #1 cost and #1 challenge. CNA turnover runs 50-75% annually in most markets. Budget for constant recruiting.
- Medicare and Medicaid reimbursement rates vary by state. Some states pay well. Others don't cover costs. Know your state's rates before committing.
- Start small. A residential care home (6-8 beds) requires far less capital than a 50-bed facility and lets you prove your model.
Quick Facts
- Area Type
- Urban
vs. National Average
Median Income
-6% vs. $74,580
Nearby Markets
62239
2.1 mi
Pop: 4,381
$57,793
62206
4.6 mi
Pop: 13,155
$39,520
Walk: 11.2
62236
5.3 mi
Pop: 14,175
$112,070
Walk: 6.3
62260
6.1 mi
Pop: 6,518
$93,929
Walk: 8.8
63111
6.4 mi
Pop: 19,093
$43,295
Walk: 13.9
62207
6.6 mi
Pop: 6,801
$29,184
Walk: 12.2
63118
7.1 mi
Pop: 25,645
$57,268
Walk: 14.7
63104
8.0 mi
Pop: 18,701
$70,127
Walk: 16.5
Check Another Market
Or estimate costs with the ElderCareCost calculator.
About This Data
Data sources
U.S. Census Bureau (ACS, ZBP) · HUD Fair Market Rents · EPA Walkability Index · USDA RUCA · IRS SOI · FDIC Summary of Deposits