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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 13,313, 4,521 total housing units (homes and apartments), and a median house value of $868,197, 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%).
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 41.73%, which is annualized rate of 3.55%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
NeighborhoodScout's data show that during the latest twelve months, Western Springs's appreciation rate, at 7.80%, has been at or slightly above the national average. In the latest quarter, Western Springs's appreciation rate has been 2.79%, which annualizes to a rate of 11.63%.
Relative to Illinois, our data show that Western Springs's latest annual appreciation rate is lower than 50% of the other cities and towns in Illinois.
$868,197
for Illinois
for nation
4,521
$3,218 / per month