Bellwood, IL—60104
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Bellwood, IL
As of Oct '25, the median home price in Bellwood, IL is $239,000, with a year-over-year change of 1.4%. This indicates that home prices in Bellwood, IL are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $239,000 | 1.4% |
| Single Family | $241,000 | 0.8% |
| Condos | $144,000 | -2.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $210,000 | 1.9% |
3 Bed | $247,000 | 0.8% |
4 Bed | $278,000 | 0.7% |
| 5 Bed | $303,000 | 1.3% |
% of Housing Stock
Rental Trends — Bellwood, IL
As of July '25, Rentcast reports the average rent in Bellwood, IL is $1,680, with a year-over-year rent change of -0.6%. Per bedroom, the median rent as of July '25 in Bellwood, IL is 1-bedrooms: $1,000, 2-bedrooms: $1,570, 3-bedrooms: $2,000, 4-bedrooms: $3,120. The most common rental property sizes in Bellwood, IL are 2-bedroom and 3-bedroom, accounting for 54.4% and 21.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,650 | $1,680 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,000 | $1,000 |
| 2 Bed Rent | $1,500 | $1,570 |
| 3 Bed Rent | $1,800 | $2,000 |
| 4 Bed Rent | $3,120 | $3,120 |
% of Rental Stock
Property Listings — Bellwood, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Bellwood, IL is 29. This is a decrease of -14.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 16.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $281,000 | 3.0% |
Listing Count | 50 | 1.0% |
| Listings as % of Homes | 1.1% | 1.0% |
Days on Market | 29 | -14.0% |
Demographics — Bellwood, IL
As of the latest ACS Survey released in 2023, Bellwood, IL has a population of 18,400, which has decreased by -3.2% over the past 5 years. Bellwood, IL is a moderately popular place for families, as children make up 23.3% of the population. The area has a poorly educated workforce, with 15.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 18,400 | -3.2% |
% Under 18 | 23.3% | 10.4% |
% Seniors | 16.5% | 21.3% |
% WFH | 7.7% | 541.7% |
% w/ College Degree | 15.7% | -14.2% |
As of the latest ACS Survey released in 2023, Bellwood, IL is a predominantly black area, with 71.0% of the population identifying as black. The black population has shrunk by 8.7% in the last 5 years. The second most common race or ethnicity in Bellwood, IL is hispanic, making up 23.3% of the population. Foreign-born residents account for 10.3% of the population in Bellwood, IL, and this percentage has increased by 28.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 3.6% | -14.3% |
% Black | 71.0% | -8.7% |
% Hispanic | 23.3% | 33.9% |
% Asian | 1.2% | 20.0% |
% Foreign Born | 10.3% | 28.7% |
Mortgage and Risk — Bellwood, IL
According to HUD data as of 2023, there were 241 mortgage originations in Bellwood, IL, of which 54.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 52.0% above 90% LTV (very high). This implies large mortgage risk in Bellwood, IL. Investor activity is low, as 3.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 241 |
% Conventional Loans | 54.0% |
% Government Loans | 46.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Bellwood, IL
As of 2024, the percent of homes in Bellwood, IL under the Section 8 program is 14.4%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Bellwood, IL, because HUD payments exceed market rent, while 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 163 |
Total Units Section 8 | 163 |
% Rentals under Section 8 | 14.4% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $320 | $1,000 | $1,320 |
| 2 Bedroom | -$10 | $1,500 | $1,490 |
| 3 Bedroom | $110 | $1,800 | $1,910 |
| 4 Bedroom | -$870 | $3,120 | $2,250 |
Affordability — Bellwood, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $239,000 |
| Median Household Income | $77,300 |