Westfield, IL—62474
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Westfield, IL
Westfield, IL lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $99,000 | -8.4% |
| Single Family | $99,000 | -6.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Westfield, IL
Westfield, IL lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Westfield, IL
Westfield, IL lacks sufficient listing trend data for analysis.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $85,400 | N/A |
Listing Count | 2 | 233.0% |
| Listings as % of Homes | 0.3% | 233.0% |
Days on Market | 59 | N/A |
Demographics — Westfield, IL
As of the latest ACS Survey released in 2023, Westfield, IL has a population of 651, which has decreased by -32.9% over the past 5 years. Westfield, IL is a less popular place for families, as children make up 9.8% of the population. The area has a poorly educated workforce, with 20.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 1.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 651 | -32.9% |
% Under 18 | 9.8% | -54.6% |
% Seniors | 40.1% | 71.4% |
% WFH | 1.1% | -73.8% |
% w/ College Degree | 20.8% | 51.8% |
As of the latest ACS Survey released in 2023, Westfield, IL is a predominantly white area, with 97.2% of the population identifying as white. The white population has shrunk by 1.6% in the last 5 years. The second most common race or ethnicity in Westfield, IL is black, making up 0.0% of the population. Foreign-born residents account for 0.9% of the population in Westfield, IL, and this percentage has increased by 80.0% 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 | 97.2% | -1.6% |
% Black | 0.0% | -100.0% |
% Hispanic | 0.0% | -100.0% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.9% | 80.0% |
Mortgage and Risk — Westfield, IL
According to HUD data as of 2023, there were 9 mortgage originations in Westfield, IL, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Westfield, IL. Investor activity is low, as 0.0% of loans were by investors. 0.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 9 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 0.0% |
Loan Activity
Rentals and Section 8 — Westfield, IL
Westfield, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 8 |
Total Units Section 8 | 0 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $740 |
| 2 Bedroom | N/A | N/A | $920 |
| 3 Bedroom | N/A | N/A | $1,180 |
| 4 Bedroom | N/A | N/A | $1,220 |
Affordability — Westfield, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.7 |
| Median Home Price | $99,000 |
| Median Household Income | $64,900 |