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Western Springs

Learn about the people, housing, costs and businesses in Western Springs, Illinois

Median Home$735,860
Median Rent$2,280/month
Population12,745
Leading IndustriesHealthcare · Arts, Food & Hospitality · Education22% healthcare
Home Value Growth⬆⬆+14.2% over 2 years
Family-Friendly32% of residentstop 2% nationally
Homeowners94% of occupied units
NotableHighly Educated46% bachelor's · 25% graduate · top 1% nationally
NotableHigh Incomes$219k/year · top 1% nationally
Western Springs
IL

Frequently Asked Questions

What are today's mortgage rates in Western Springs?

As of today, the 30-year fixed mortgage rate for Western Springs is approximately 6.614% (6.618% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Western Springs?

The median home value in Western Springs is $736k. The median monthly rent is $2,280. Annual property taxes average $10k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Western Springs?

Home values in Western Springs have increased 14.2% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Western Springs?

Based on a typical all-in ownership cost of $3,035/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $130k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Western Springs is $219k/year.

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What industries drive the economy in Western Springs?

The largest employment sectors in Western Springs are public administration (24%) and healthcare (22%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.