The typical owner-occupied home in Western Springs is worth about $739,400, 2.8 times the Illinois median of $263,300 and 2.2 times the national median of $332,700. Owners pay a median $10,001 a year in property taxes, about 1.35% of their home's value, lower than the Illinois rate of 2.01%. The median household earns $230,255 a year, so the median home costs 3.2 times the median income (3.2 times for Illinois). 96% of occupied homes here are lived in by their owners, and 68% of those owners still have a mortgage.
Western Springs at a glance
| Western Springs | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $739,400 | $263,300 | $332,700 |
| Median property tax paid per year | $10,001 | $5,298 | $3,119 |
| Property tax as a share of value | 1.35% | 2.01% | 0.94% |
| Median household income | $230,255 | $83,390 | $80,734 |
| Homes lived in by their owners | 96% | 67% | 65% |
| Owner homes with a mortgage | 68% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $3,998 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 19.0% | 20.6% | 21.0% |
| Median rent | $2,006 | $1,274 | $1,413 |
| Rent as a share of renters' income | 23.6% | 29.1% | 30.6% |
| Median year homes were built | 1961 | 1971 | 1980 |
| Vacant homes | 1.6% | 7.7% | 10.1% |
| Population | 13,446 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Western Springs
At this week's average 30-year rate of 7.11%, buying the median Western Springs home of $739,400 with 20% down costs about $5,119 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $6,351, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $219,390 for the 20%-down payment. That payment is 27% of the median Western Springs household income of $230,255; at that income and 20% down, the 28% guideline points to a home of about $776,000.
The median rent here is $2,006 a month, so owning the median home costs about $3,113 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $147,880 |
|---|---|
| Loan amount | $591,520 |
| Principal and interest | $3,979 |
| Property taxes (1.35% a year) | $832 |
| Homeowners insurance (our estimate, 0.5% a year) | $308 |
| PMI | $0 |
| Total per month | $5,119 |
Change the numbers in the calculator
| Down payment | $25,879 |
|---|---|
| Loan amount | $726,008 |
| Principal and interest | $4,884 |
| Property taxes (1.35% a year) | $832 |
| Homeowners insurance (our estimate, 0.5% a year) | $308 |
| FHA mortgage insurance | $327 |
| Total per month | $6,351 |
Change the numbers in the calculator
Questions about home buying in Western Springs
What is the median home value in Western Springs?
About $739,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Western Springs?
Homeowners pay a median $10,001 a year, which is about 1.35% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Western Springs?
For the median home with 20% down at 7.11%, the payment is about $5,119 a month. Keeping that under 28% of gross income takes about $219,390 a year.
More about Western Springs
- Mortgage Refinance in Western Springs
- Debt Relief in Western Springs
- Home Equity Loans in Western Springs
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data