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Affordable
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These days, finding an affordable place to live in the Spring Bay area can be challenging. Home prices in Spring Bay are now at a median cost of $192,552, lower than the Illinois average of $300,242.
The average cost of rent is $1,089/mo in Spring Bay, primarily driven by the current value of real estate in the Spring Bay area. In Spring Bay, 18.21% of households rent, and 47.06% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Spring Bay is $5,990 per month. Households that rent pay about 18.18% of their income on rent here. Spring Bay’s most expensive areas are in the central regions, while the cheapest areas are in the southeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Bay View Gardens, IL: less expensive homes
- Mossville, IL: higher priced homes
- Rome, IL: less expensive homes
- Oak Ridge, IL: higher priced homes
- Germantown Hills, IL: higher priced homes
- South Rome, IL: higher priced homes
- Chillicothe, IL: less expensive homes
- Peoria Heights, IL: less expensive homes
- Metamora, IL: higher priced homes
- Dunlap, IL: higher priced homes
Cities with Similar Populations
- White Sulphur Springs, NY: higher priced homes
- Lester, SC: less expensive homes
- Lignum, VA: higher priced homes
- Worth, MI: less expensive homes
- Little Sauk, MN: higher priced homes
- Locust, TX: higher priced homes
- Loom, WV: higher priced homes
- Woodson, IL: less expensive homes
- Woodland Park, IN: less expensive homes
- Witmer, PA: higher priced homes
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