Berwyn, IL—60402
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Berwyn, IL
As of Oct '25, the median home price in Berwyn, IL is $297,000, with a year-over-year change of 3.4%. This indicates that home prices in Berwyn, 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 | $297,000 | 3.4% |
| Single Family | $303,000 | 3.8% |
| Condos | $165,000 | -2.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $136,000 | 1.5% |
2 Bed | $256,000 | 4.1% |
3 Bed | $299,000 | 3.5% |
4 Bed | $354,000 | 4.4% |
| 5 Bed | $398,000 | 4.7% |
% of Housing Stock
Rental Trends — Berwyn, IL
As of July '25, Rentcast reports the average rent in Berwyn, IL is $1,510, with a year-over-year rent change of 2.0%. Per bedroom, the median rent as of July '25 in Berwyn, IL is studios: $1,020, 1-bedrooms: $1,150, 2-bedrooms: $1,700, 3-bedrooms: $2,280, 4-bedrooms: $2,620. The most common rental property sizes in Berwyn, IL are 2-bedroom and 1-bedroom, accounting for 41.5% and 32.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,250 | $1,510 |
| Studio Rent | $995 | $1,020 |
| 1 Bed Rent | $1,100 | $1,150 |
| 2 Bed Rent | $1,650 | $1,700 |
| 3 Bed Rent | $2,100 | $2,280 |
| 4 Bed Rent | $2,600 | $2,620 |
% of Rental Stock
Property Listings — Berwyn, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Berwyn, IL is 33. This is a increase of 1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $348,000 | 0.0% |
Listing Count | 152 | 12.0% |
| Listings as % of Homes | 0.5% | 12.0% |
Days on Market | 33 | 1.0% |
Demographics — Berwyn, IL
As of the latest ACS Survey released in 2023, Berwyn, IL has a population of 63,900, which has remained stable by 0.5% over the past 5 years. Berwyn, IL is a moderately popular place for families, as children make up 23.6% of the population. The area has a moderately educated workforce, with 25.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 63,900 | 0.5% |
% Under 18 | 23.6% | -7.8% |
% Seniors | 13.1% | 20.2% |
% WFH | 10.3% | 472.2% |
% w/ College Degree | 25.2% | 18.3% |
As of the latest ACS Survey released in 2023, Berwyn, IL is a predominantly hispanic area, with 60.6% of the population identifying as hispanic. The hispanic population has shrunk by 2.4% in the last 5 years. The second most common race or ethnicity in Berwyn, IL is white, making up 27.3% of the population. Foreign-born residents account for 22.8% of the population in Berwyn, IL, and this percentage has decreased by 14.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 27.3% | -1.1% |
% Black | 7.6% | 26.7% |
% Hispanic | 60.6% | -2.4% |
% Asian | 3.8% | 15.2% |
% Foreign Born | 22.8% | -14.0% |
Mortgage and Risk — Berwyn, IL
According to HUD data as of 2023, there were 723 mortgage originations in Berwyn, IL, of which 70.0% 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 Berwyn, IL. Investor activity is low, as 3.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 723 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Berwyn, IL
As of 2024, the percent of homes in Berwyn, IL under the Section 8 program is 2.7%. 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 units appear to be good home sizes to consider for Section 8 housing in Berwyn, IL, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 227 |
Total Units Section 8 | 227 |
% Rentals under Section 8 | 2.7% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $320 | $1,100 | $1,420 |
| 2 Bedroom | -$50 | $1,650 | $1,600 |
| 3 Bedroom | -$40 | $2,100 | $2,060 |
| 4 Bedroom | -$190 | $2,600 | $2,410 |
Affordability — Berwyn, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $297,000 |
| Median Household Income | $74,000 |