Spring Bay, IL
Population 519 · Illinois
About Spring Bay, IL
Spring Bay is a small community located in Illinois with a population of 519 residents according to the latest US Census Bureau American Community Survey data. The median household income is $61,111 per year, which is 19% below the national median of $75,149. The median age of 42.9 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Spring Bay features a median home value of $134,900, which is 45% below the national median of $244,900. This makes Spring Bay one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $1,083, 7% below the national average of $1,163/month. Of the 215 total housing units, 65% are owner-occupied (131 units) and 35% are renter-occupied (71 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Spring Bay shows an unemployment rate of 6.9%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 17.0%, above the national average of 12.4%. Workers in Spring Bay have an average one-way commute time of 22.5 minutes.
Education & Demographics
11.5% of Spring Bay residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 1.5% White, 2.3% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
Cost of Living in Spring Bay, IL
Compared to national averages, Spring Bay has a median household income of $61,111 (19% below the national median of $75,149). Home values average $134,900, which is 45% below the national median. Monthly rent at $1,083 is 7% below the US average of $1,163. Within Illinois, Spring Bay's income is 19% below the state average of $75,072, and home values are 19% below the state median of $165,779.
Why Live in Spring Bay, IL?
Spring Bay offers affordable housing with a median home value of $134,900, below the US average of $244,900, and rent that’s lower than the national average at $1,083/month, and short commute times averaging just 22.5 minutes.
Potential considerations include median household income ($61,111) that falls below the national average. However, Spring Bay’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Spring Bay has a population of 519 with a median age of 42.9 years. Compare Spring Bay with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Spring Bay
Cities in Illinois with a similar population size.
Demographics
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Economy & Education
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Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Spring Bay
What is the population of Spring Bay, IL?
The population of Spring Bay, IL is 519 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Illinois.
What is the median household income in Spring Bay?
The median household income in Spring Bay, IL is $61,111 per year, which is 19% below the national median of $75,149.
What is the median home value in Spring Bay?
The median home value in Spring Bay, IL is $134,900, which is 45% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Spring Bay?
The median monthly rent in Spring Bay, IL is $1,083, which is 7% below the national average of $1,163/month.
What is the unemployment rate in Spring Bay?
The unemployment rate in Spring Bay, IL is 6.9%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Spring Bay, IL a good place to live?
Spring Bay offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 519 and a median age of 42.9, the city appeals to a broad range of residents.
How educated is Spring Bay, IL?
11.5% of residents in Spring Bay aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Spring Bay?
Key cost-of-living indicators for Spring Bay, IL: median home value is $134,900 (45% below national), median rent is $1,083/month, and median household income is $61,111. The home-value-to-income ratio is 2.2x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Spring Bay?
The poverty rate in Spring Bay, IL is 17.0%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Spring Bay, IL?
Spring Bay's population is 1.5% White, 2.3% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.