Berwyn, IL 60402 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Berwyn, IL—60402

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$313,000

5.5% YoY Growth

Household Income

$74,000

21.7% YoY Growth

Days on Market

15.0% Longer YoY

Home Price Forecast

0.8%

Median Rent

$1,250

2.0% YoY Growth

1-Bed Rent

$1,100

2.7% YoY Growth

2-Bed Rent

$1,650

14.9% YoY Growth

3-Bed Rent

$2,100

10.1% YoY Growth

Home Price Trends — Berwyn, IL

As of May '26, the median home price in Berwyn, IL is $313,000, with a year-over-year change of 5.5%. This indicates that home prices in Berwyn, IL are increasing. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$313,000	5.5%
Single Family	$319,000	5.3%
Condos	$170,000	2.4%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

5.2%

1 Bedroom

32.7%

2 Bedrooms

41.5%

3 Bedrooms

17.2%

4 Bedrooms

2.7%

5+ Bedrooms

0.7%

Property Listings — Berwyn, IL

As of May '26, Realtor.com reports that the median days on market for a home in Berwyn, IL is 36. This is a increase of 15.0% 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 14.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$360,000	-2.0%
Listing Count	112	19.0%
Listings as % of Homes	0.5%	19.0%
Days on Market	36	15.0%

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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%

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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%

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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%

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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

Berwyn, IL—60402

Key Metrics at a Glance

Home Price Trends — Berwyn, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Berwyn, IL

% of Rental Stock

Property Listings — Berwyn, IL

Demographics — Berwyn, IL

Race and Ethnicity

Mortgage and Risk — Berwyn, IL

Mortgages

Rentals and Section 8 — Berwyn, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Berwyn, IL

Home Price to Income Ratio

Berwyn, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Cicero, IL

Riverside, IL

Lyons, IL

Oak Park, IL

Forest Park, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.6
Median Home Price	$313,000
Median Household Income	$74,000

Berwyn, IL—60402

Key Metrics at a Glance

Home Price Trends — Berwyn, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Berwyn, IL

% of Rental Stock

Property Listings — Berwyn, IL

Demographics — Berwyn, IL

Race and Ethnicity

Mortgage and Risk — Berwyn, IL

Mortgages

Rentals and Section 8 — Berwyn, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Berwyn, IL

Home Price to Income Ratio

Berwyn, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Cicero, IL

Riverside, IL

Lyons, IL

Oak Park, IL

Forest Park, IL

Frequently Asked Questions

What is the average home price in Berwyn, IL 60402?

How have home prices in Berwyn, IL 60402 changed over the past year?

What is the home price projection for Berwyn, IL 60402?

What are the demographics of Berwyn, IL 60402?

How long does it take homes to sell in Berwyn, IL 60402?

What is the average rent price in Berwyn, IL 60402?