Western Springs, IL—60558
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Western Springs, IL
As of Oct '25, the median home price in Western Springs, IL is $811,000, with a year-over-year change of 6.3%. This indicates that home prices in Western Springs, IL are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $811,000 | 6.3% |
| Single Family | $832,000 | 6.8% |
| Condos | $431,000 | 2.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $479,000 | 8.1% |
3 Bed | $627,000 | 8.3% |
4 Bed | $917,000 | 5.9% |
| 5 Bed | $1,354,000 | 5.5% |
% of Housing Stock
Rental Trends — Western Springs, IL
As of July '25, Rentcast reports the average rent in Western Springs, IL is $4,220, with a year-over-year rent change of -9.8%. Per bedroom, the median rent as of July '25 in Western Springs, IL is 2-bedrooms: $2,930, 3-bedrooms: $4,130. The most common rental property sizes in Western Springs, IL are 2-bedroom and 4-bedroom, accounting for 47.8% and 22.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,600 | $4,220 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $2,950 | $2,930 |
| 3 Bed Rent | $3,600 | $4,130 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Western Springs, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Western Springs, IL is 40. This is a increase of 11.0% 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 8.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,110,000 | 16.0% |
Listing Count | 50 | 3.0% |
| Listings as % of Homes | 0.9% | 3.0% |
Days on Market | 40 | 11.0% |
Demographics — Western Springs, IL
As of the latest ACS Survey released in 2023, Western Springs, IL has a population of 13,400, which has remained stable by 1.0% over the past 5 years. Western Springs, IL is a popular place for families, as children make up 32.5% of the population. The area has a highly educated workforce, with 82.0% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 27.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 13,400 | 1.0% |
% Under 18 | 32.5% | 2.2% |
% Seniors | 14.8% | -5.7% |
% WFH | 27.8% | 251.9% |
% w/ College Degree | 82.0% | 4.6% |
As of the latest ACS Survey released in 2023, Western Springs, IL is a predominantly white area, with 88.4% of the population identifying as white. The white population has shrunk by 4.7% in the last 5 years. The second most common race or ethnicity in Western Springs, IL is hispanic, making up 5.8% of the population. Foreign-born residents account for 4.9% of the population in Western Springs, IL, and this percentage has increased by 40.0% 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 | 88.4% | -4.7% |
% Black | 0.3% | -62.5% |
% Hispanic | 5.8% | 20.8% |
% Asian | 2.4% | 166.7% |
% Foreign Born | 4.9% | 40.0% |
Mortgage and Risk — Western Springs, IL
According to HUD data as of 2023, there were 212 mortgage originations in Western Springs, IL, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 13.0% above 90% LTV (elevated). This implies medium mortgage risk in Western Springs, IL. Investor activity is low, as 2.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 212 |
% Conventional Loans | 98.0% |
% Government Loans | 2.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Western Springs, IL
Western Springs, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 2 |
Total Units Section 8 | 2 |
% Rentals under Section 8 | 1.0% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $2,340 |
| 2 Bedroom | -$310 | $2,950 | $2,640 |
| 3 Bedroom | -$210 | $3,600 | $3,390 |
| 4 Bedroom | N/A | N/A | $3,980 |
Affordability — Western Springs, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $811,000 |
| Median Household Income | $219,000 |