Western Springs, IL 60558 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Western Springs, IL—60558

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$804,000

6.7% YoY Growth

Household Income

$219,000

35.5% YoY Growth

Days on Market

14.0% Longer YoY

Home Price Forecast

2.2%

Median Rent

$3,600

9.8% YoY Growth

1-Bed Rent

N/A

2-Bed Rent

$2,950

62.8% YoY Growth

3-Bed Rent

$3,600

10.1% YoY Growth

Home Price Trends — Western Springs, IL

As of Dec '25, the median home price in Western Springs, IL is $804,000, with a year-over-year change of 6.7%. This indicates that home prices in Western Springs, IL are increasing. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$804,000	6.7%
Single Family	$825,000	7.4%
Condos	$431,000	3.1%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

1 Bedroom

19.4%

2 Bedrooms

47.8%

3 Bedrooms

10.0%

4 Bedrooms

22.9%

Property Listings — Western Springs, IL

As of Dec '25, Realtor.com reports that the median days on market for a home in Western Springs, IL is 44. This is a increase of 4.0% 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 11.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$1,040,000	-1.0%
Listing Count	32	-15.0%
Listings as % of Homes	0.9%	-15.0%
Days on Market	62	14.0%

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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%

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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%

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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%

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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

Western Springs, IL—60558

Key Metrics at a Glance

Home Price Trends — Western Springs, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Western Springs, IL

% of Rental Stock

Property Listings — Western Springs, IL

Demographics — Western Springs, IL

Race and Ethnicity

Mortgage and Risk — Western Springs, IL

Mortgages

Rentals and Section 8 — Western Springs, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Western Springs, IL

Home Price to Income Ratio

Western Springs, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Hinsdale, IL

La Grange Park, IL

La Grange, IL

Westchester, IL

Clarendon Hills, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.2
Median Home Price	$804,000
Median Household Income	$219,000

Western Springs, IL—60558

Key Metrics at a Glance

Home Price Trends — Western Springs, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Western Springs, IL

% of Rental Stock

Property Listings — Western Springs, IL

Demographics — Western Springs, IL

Race and Ethnicity

Mortgage and Risk — Western Springs, IL

Mortgages

Rentals and Section 8 — Western Springs, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Western Springs, IL

Home Price to Income Ratio

Western Springs, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Hinsdale, IL

La Grange Park, IL

La Grange, IL

Westchester, IL

Clarendon Hills, IL

Frequently Asked Questions

What is the average home price in Western Springs, IL 60558?

How have home prices in Western Springs, IL 60558 changed over the past year?

What is the home price projection for Western Springs, IL 60558?

What are the demographics of Western Springs, IL 60558?

How long does it take homes to sell in Western Springs, IL 60558?

What is the average rent price in Western Springs, IL 60558?