Oak Lawn, Illinois Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Oak Lawn, Illinois rental market.
Oak Lawn, Illinois
Average Apartment Rent
$1,173
Y-o-Y Change in Average
Apartment Rent
-12.3%
As of March 2026
Compared to a year ago, Oak Lawn, Illinois apartments have recorded a -12.3% rent decrease.
Oak Lawn, Illinois Average apartment rent trend
Oak Lawn, Illinois Average Apartment Rent
Oak Lawn, Illinois Housing tenure**
Renters take up 18% of Oak Lawn, Illinois real estate, occupying a total of 3,990 units, while homeowners live in 17,994 properties.
Median number of rooms of renter-occupied housing units**
4.3
Renter median household income**
$49,873
Average household size of renter-occupied housing units**
2.49
Rental vacancy rate**
5.1%
Oak Lawn, Illinois Renter-occupied housing units by no. of bedrooms**
There are 1,577 rentals in Oak Lawn, Illinois with 2 beds making up the highest share of the market, at 40%. Units with 5 or more beds, on the other hand, hold the lowest percentage (2%), amounting to 79 units. Overall, the median number of rooms in Oak Lawn, Illinois homes for rent is 4.3.
Oak Lawn, Illinois Renter-occupied units by age of householder**
Most condos for rent in Oak Lawn, Illinois are occupied by residents in the 45 - 54 years age group (23%), followed by those in the 35 - 44 years age group (19%). At the same time, people in the 15 - 24 years age group make up the lowest share of the local rental market – 4%.
Oak Lawn, Illinois Renter-occupied housing units by family type**
Oak Lawn, Illinois Renter-occupied housing units by the presence of own children**
A total of 2,133 apartments for rent in Oak Lawn, Illinois, or 53% of all rentals are family households. Additionally, 34% of rental homes include children under the age of 18 – that’s 1,350 units. All in all, the median size of a renter-occupied household in Oak Lawn, Illinois is 2.49.
Oak Lawn, Illinois Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 29% of the rental market. In contrast, residents with less than a high school degree reside in 12% of the homes for rent in Oak Lawn, Illinois.
Oak Lawn, Illinois Renter-occupied units by year structure built**
The highest share of Oak Lawn, Illinois apartment rentals, namely 34% or 1,367 units, were Built 1970 - 1979, followed by those Built 1960 - 1969 (19%, 767 units), and the ones Built 1980 - 1989 (15%, 600 units).
Oak Lawn, Illinois Renter-occupied units by year householder moved in**
Median year renter moved into unit 2015
Most Oak Lawn, Illinois renters (48%) moved in 2010 to 2017, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Oak Lawn, Illinois condos for rent is 2015.
Oak Lawn, Illinois Renter-occupied housing units by vehicles available**
When it comes to transportation options, 53% of Oak Lawn, Illinois renters have 1 vehicle available per household, 27% of them have 2 vehicles available, and 10% have 3 or more vehicles available.
Oak Lawn, Illinois Means of transportation to work of householders living in renter-occupied housing units**
Oak Lawn, Illinois Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Oak Lawn, Illinois apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
