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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Western Springs, IL Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Western Springs, IL Housing Market Trends

With a population of 13,313, 4,521 total housing units (homes and apartments), and a median house value of $811,000, Western Springs house prices are not only among the most expensive in Illinois, Western Springs real estate also is some of the most expensive in all of America.

Western Springs is a village of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Western Springs than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Western Springs. Owner-occupied housing accounts for 96.44% of Western Springs's homes, and 78.31% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Western Springs's housing was primarily built during this period, from the '40s through the '60s. A full 48.35% of the village's housing hails from this era. Other housing ages represented in Western Springs include homes built before 1939 ( 22.98%) and housing constructed between 2000 and later ( 15.29%). There's also some housing in Western Springs built between 1970-1999 ( 13.38%).

Western Springs Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Western Springs, where house values have increased just 36.68%, which is annualized rate of 3.17%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Western Springs appreciation rates have trailed the rest of the nation. In the last twelve months, Western Springs's appreciation rate has been 4.77%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Western Springs were at 0.21%, which equates to an annual appreciation rate of 0.86%.

Relative to Illinois, our data show that Western Springs's latest annual appreciation rate is higher than 50% of the other cities and towns in Illinois.

Average Home Values

Median Home Value

$811,000

Western Springs, IL Home Prices
> $1,168,000
$876,001 - $1,168,000
$584,001 - $876,000
$468,001 - $584,000
$351,001 - $468,000
$234,001 - $351,000
$117,001 - $234,000
$59,001 - $117,000
$0 - $59,000
17.8%
17.8%
19.4%
19.4%
34.6%
34.6%
14.4%
14.4%
6.8%
6.8%
4.9%
4.9%
1.4%
1.4%
0.2%
0.2%
0.6%
0.6%
0% 100.0%
% of Homes
Very High

for Illinois

Very High

for nation

Number of Homes And Apartments:

4,521

Western Springs Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,058 / per month

Homeownership Rate

Owners
Renters
96.4%
96.4%
3.6%
3.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
2.6%
2.6%
97.4%
97.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
15.3%
15.3%
13.4%
13.4%
48.4%
48.4%
23.0%
23.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
89.3%
89.3%
5.5%
5.5%
1.5%
1.5%
3.1%
3.1%
0.6%
0.6%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
0.9%
0.9%
6.5%
6.5%
37.8%
37.8%
40.6%
40.6%
14.2%
14.2%
0% 100.0%
% of Homes

Popular Neighborhoods in Western Springs

Zip Codes in Western Springs, IL