Oak Brook, Illinois Real Estate & Housing Market

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Oak Brook Housing Information

Index	Oak Brook	Illinois	National
Median home price	$825,400	$174,800	$184,700
Median rent asked	$2,071	$925	$949
Avg. people per household	3.1	2.6	2.6
Owner occupied households	94.0%	66.0%	63.6%
Renter occupied households	6.0%	34.0%	36.4%

Above, you will see a summary of real estate in Oak Brook, IL. On average, homes in Oak Brook, IL cost $825,400, a value that is 372% higher than the average in Illinois. In general terms, this results in Oak Brook, IL real estate being less affordable than Illinois real estate. On average, people who rent houses in Oak Brook, IL pay $2,071; this value is 124% higher than the average amount renters pay in Illinois. 94.0% of Oak Brook, IL residents own their own homes and, on average, each of the homes has 3.1 occupants. Oak Brook, IL real estate features a range of homes, which include everthing from large houses to small condos to stacked townhomes. Accessing real estate listings and homes that are up for sale in Oak Brook, IL is easy because in our search area shown above, we categorize real estate and homes based on location, price, and the number of bedrooms and bathrooms.

Oak Brook Home Affordability

It’s advisable to look at home affordability when trying to find the ideal place to find real estate in Oak Brook, IL. To estimate home affordability, one method is to use the ratio of home price to median household income. The Oak Brook, IL’s median home price stands at $825,400 while $144,286 is the value of the average household income. The resulting home price to income ratio, which is 5.7x, differs from the Illinois average as the ratio is 94% higher than the state’s average. The average home price divided by the median home income results in the home affordability ratio. Considering the comparison between the home price and home income, homes in Oak Brook, IL are considered less expensive if the ratio of home price to income is lower. Besides the home price to median household income ratio, other considerable factors do apply in determining home affordability. Using the home affordability calculator displayed below can help determine the exact price that suits any budget when searching for real estate in Oak Brook, IL.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Hodgkins, IL	1,960	$32,300	83%
Dixmoor, IL	3,614	$44,200	76%
Robbins, IL	5,216	$72,500	61%
Hometown, IL	4,343	$104,600	43%
Posen, IL	6,251	$107,400	42%
Oak Brook, IL	7,988	$825,400	347%

Cities with similar population

City, State	Population	Home Price	National Avg.
Round Lake Park, IL	7,989	$120,000	35%
York, SC	7,989	$129,100	30%
Summit Park, UT	7,986	$610,800	231%
Ilion, NY	7,986	$81,300	56%
Charlestown, IN	7,990	$100,500	46%
Oak Brook, IL	7,988	$825,400	347%

Source: The Oak Brook, IL housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).