Downers Grove, IL—60515
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Downers Grove, IL
Home Price Trends — Downers Grove, IL
As of Oct '25, the median home price in Downers Grove, IL is $480,000, with a year-over-year change of 7.6%. This indicates that home prices in Downers Grove, IL are increasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $480,000 | 7.6% |
| Single Family | $542,000 | 7.5% |
| Condos | $204,000 | 3.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $165,000 | 1.2% |
2 Bed | $252,000 | 4.1% |
3 Bed | $483,000 | 6.6% |
4 Bed | $762,000 | 6.3% |
| 5 Bed | $1,076,000 | 5.6% |
% of Housing Stock
Rental Trends — Downers Grove, IL
As of July '25, Rentcast reports the average rent in Downers Grove, IL is $2,570, with a year-over-year rent change of -2.3%. Per bedroom, the median rent as of July '25 in Downers Grove, IL is studios: $2,000, 1-bedrooms: $2,210, 2-bedrooms: $2,760, 3-bedrooms: $3,250, 4-bedrooms: $4,120. The most common rental property sizes in Downers Grove, IL are 1-bedroom and 2-bedroom, accounting for 45.8% and 19.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,410 | $2,570 |
| Studio Rent | $1,860 | $2,000 |
| 1 Bed Rent | $2,140 | $2,210 |
| 2 Bed Rent | $2,600 | $2,760 |
| 3 Bed Rent | $2,950 | $3,250 |
| 4 Bed Rent | $3,950 | $4,120 |
% of Rental Stock
Property Listings — Downers Grove, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Downers Grove, IL is 30. This is a decrease of -26.0% from last year, suggesting that homes are sitting on the market shorter 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 | $520,000 | 3.0% |
Listing Count | 98 | -9.0% |
| Listings as % of Homes | 0.7% | -9.0% |
Days on Market | 30 | -26.0% |
Demographics — Downers Grove, IL
As of the latest ACS Survey released in 2023, Downers Grove, IL has a population of 29,000, which has increased by 1.7% over the past 5 years. Downers Grove, IL is a moderately popular place for families, as children make up 22.5% of the population. The area has a highly educated workforce, with 61.3% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 25.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 29,000 | 1.7% |
% Under 18 | 22.5% | -5.1% |
% Seniors | 19.7% | 12.6% |
% WFH | 25.9% | 197.7% |
% w/ College Degree | 61.3% | 11.1% |
As of the latest ACS Survey released in 2023, Downers Grove, IL is a predominantly white area, with 83.5% of the population identifying as white. The white population has shrunk by 4.0% in the last 5 years. The second most common race or ethnicity in Downers Grove, IL is asian, making up 5.5% of the population. Foreign-born residents account for 8.1% of the population in Downers Grove, IL, and this percentage has decreased by 12.9% 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 | 83.5% | -4.0% |
% Black | 2.3% | -8.0% |
% Hispanic | 4.3% | 7.5% |
% Asian | 5.5% | 3.8% |
% Foreign Born | 8.1% | -12.9% |
Mortgage and Risk — Downers Grove, IL
According to HUD data as of 2023, there were 516 mortgage originations in Downers Grove, IL, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Downers Grove, IL. Investor activity is low, as 4.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 516 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Downers Grove, IL
As of 2024, the percent of homes in Downers Grove, IL under the Section 8 program is 22.2%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Downers Grove, IL, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 602 |
Total Units Section 8 | 602 |
% Rentals under Section 8 | 22.2% |
% Occupied Section 8 | 98.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$300 | $2,140 | $1,840 |
| 2 Bedroom | -$520 | $2,600 | $2,080 |
| 3 Bedroom | -$280 | $2,950 | $2,670 |
| 4 Bedroom | -$810 | $3,950 | $3,140 |
Affordability — Downers Grove, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $480,000 |
| Median Household Income | $121,000 |