Westchester, IL—60154
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Westchester, IL
As of Oct '25, the median home price in Westchester, IL is $346,000, with a year-over-year change of 4.8%. This indicates that home prices in Westchester, IL are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $346,000 | 4.8% |
| Single Family | $347,000 | 5.2% |
| Condos | $334,000 | 4.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $310,000 | 5.4% |
3 Bed | $350,000 | 5.4% |
4 Bed | $402,000 | 5.5% |
| 5 Bed | $452,000 | 7.1% |
% of Housing Stock
Rental Trends — Westchester, IL
As of July '25, Rentcast reports the average rent in Westchester, IL is $2,470, with a year-over-year rent change of 16.5%. Per bedroom, the median rent as of July '25 in Westchester, IL is studios: $1,230, 1-bedrooms: $1,580, 2-bedrooms: $2,050, 3-bedrooms: $3,010, 4-bedrooms: $2,270. The most common rental property sizes in Westchester, IL are 3-bedroom and 2-bedroom, accounting for 48.0% and 41.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,300 | $2,470 |
| Studio Rent | $1,230 | $1,230 |
| 1 Bed Rent | $1,580 | $1,580 |
| 2 Bed Rent | $1,920 | $2,050 |
| 3 Bed Rent | $2,980 | $3,010 |
| 4 Bed Rent | $1,550 | $2,270 |
% of Rental Stock
Property Listings — Westchester, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Westchester, IL is 39. This is a increase of 10.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $385,000 | 8.0% |
Listing Count | 52 | 11.0% |
| Listings as % of Homes | 0.8% | 11.0% |
Days on Market | 39 | 10.0% |
Demographics — Westchester, IL
As of the latest ACS Survey released in 2023, Westchester, IL has a population of 16,500, which has remained stable by -0.3% over the past 5 years. Westchester, IL is a moderately popular place for families, as children make up 15.6% of the population. The area has a highly educated workforce, with 45.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,500 | -0.3% |
% Under 18 | 15.6% | -17.5% |
% Seniors | 27.5% | 14.6% |
% WFH | 14.3% | 160.0% |
% w/ College Degree | 45.7% | 10.1% |
As of the latest ACS Survey released in 2023, Westchester, IL is a predominantly white area, with 53.7% of the population identifying as white. The white population has shrunk by 2.9% in the last 5 years. The second most common race or ethnicity in Westchester, IL is hispanic, making up 21.3% of the population. Foreign-born residents account for 14.1% of the population in Westchester, IL, and this percentage has increased by 6.8% 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 | 53.7% | -2.9% |
% Black | 20.0% | 13.0% |
% Hispanic | 21.3% | -1.4% |
% Asian | 3.4% | -10.5% |
% Foreign Born | 14.1% | 6.8% |
Mortgage and Risk — Westchester, IL
According to HUD data as of 2023, there were 288 mortgage originations in Westchester, IL, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 41.0% above 90% LTV (very high). This implies large mortgage risk in Westchester, IL. Investor activity is low, as 1.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 288 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Westchester, IL
As of 2024, the percent of homes in Westchester, IL under the Section 8 program is 11.5%. 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 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Westchester, IL, because HUD payments exceed market rent, while 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 73 |
Total Units Section 8 | 73 |
% Rentals under Section 8 | 11.5% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $320 | $1,580 | $1,900 |
| 2 Bedroom | $230 | $1,920 | $2,150 |
| 3 Bedroom | -$220 | $2,980 | $2,760 |
| 4 Bedroom | $1,690 | $1,550 | $3,240 |
Affordability — Westchester, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $346,000 |
| Median Household Income | $104,000 |