Spring Bay, IL Profile: Facts & Data

Spring Bay, Illinois - Basic Facts

The Village of Spring Bay had a population of 464 as of July 1, 2024.

The primary coordinate point for Spring Bay is located at latitude 40.8245 and longitude -89.5223 in Woodford County. The formal boundaries for the Village of Spring Bay encompass a land area of 0.75 sq. miles and a water area of 0.16 sq. miles. Woodford County is in the Central time zone (GMT -6).

The Village of Spring Bay has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The Village of Spring Bay is located within Township of Spring Bay, a minor civil division (MCD) of Woodford County.

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Spring Bay, IL Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	464 (100%)
Population in Households	464 (100.0%)
Population in Families	395 (85.1%)
Population in Group Quarters¹	0
Population Density	675
Diversity Index²	25


INCOME
Median Household Income	$65,545
Average Household Income	$90,608
% of Income for Mortgage⁴	20%
Per Capita Income	$36,126
Wealth Index⁵	81
Socioeconomic Status Index⁶	Moderate (50.4)

HOUSING
Total HU (Housing Units)	223 (100%)
Owner Occupied HU	158 (70.9%)
Renter Occupied HU	27 (12.1%)
Vacant Housing Units	38 (17.0%)
Median Home Value	$203,846
Average Home Value	$240,823
Housing Affordability Index³	109

HOUSEHOLDS
Total Households	185
Average Household Size	2.51
Family Households	135
Average Family Size	3.00

HOUSING

Total HU (Housing Units)

223 (100%)

Owner Occupied HU

158 (70.9%)

Renter Occupied HU

27 (12.1%)

Vacant Housing Units

38 (17.0%)

Median Home Value

$203,846

Average Home Value

$240,823

Housing Affordability Index³

109

HOUSEHOLDS

Total Households

185

Average Household Size

2.51

Family Households

135

Average Family Size

3.00

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR	2020-2024	2024-2029
Population	-0.50%	-0.57%
Households	-0.38%	0.22%
Families		0.29%
Median Household Income		4.35%
Per Capita Income		4.73%
Owner Occupied HU		0.13%

GROWTH RATE / YEAR

2020-2024

2024-2029

Population

-0.50%

-0.57%

Households

-0.38%

0.22%

Families

0.29%

Median Household Income

4.35%

Per Capita Income

4.73%

Owner Occupied HU

0.13%

Spring Bay, IL - Peer Comparisons by Rank and Percentile

The table below compares Spring Bay to the other 1,462 incorporated cities, towns and CDPs in Illinois by rank and percentile using July 1, 2024 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description	Rank	Percentile
Total Population	# 934	36th
Population Density	# 933	36th
Median Household Income	# 888	39th
Housing Affordability Index	# 449	31st
Per Capita Income	# 865	41st
Diversity Index	# 617	58th

Variable Description

Rank

Percentile

Total Population

# 934

36th

Population Density

# 933

36th

Median Household Income

# 888

39th

Housing Affordability Index

# 449

31st

Per Capita Income

# 865

41st

Diversity Index

# 617

58th

Illinois Census Data Comparison Tool

Spring Bay, IL Profile: Facts & Data

Spring Bay, Illinois - Basic Facts

Spring Bay, IL Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Spring Bay, IL - Peer Comparisons by Rank and Percentile

Spring Bay, IL - Most Popular Things to Do

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Woodford County