Oak Park, 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 Park, Illinois rental market.
Oak Park, Illinois
Average Apartment Rent
$2,265
Y-o-Y Change in Average
Apartment Rent
4.9%
As of May 2026
Compared to a year ago, Oak Park, Illinois apartments have recorded a 4.9% rent increase.
Oak Park, Illinois Average apartment rent trend
Oak Park, Illinois Average Apartment Rent
Oak Park, Illinois Apartment rent ranges
At 37.81%, apartments priced $2,000 - $2,500 represent the bulk of Oak Park, Illinois rentals, while condos priced $2,500 - $3,000 hold the lowest share of the market – 8.58%.
Oak Park, Illinois Housing tenure**
Renters take up 40% of Oak Park, Illinois real estate, occupying a total of 9,451 units, while homeowners live in 13,894 properties.
Median number of rooms of renter-occupied housing units**
3.8
Renter median household income**
$67,899
Average household size of renter-occupied housing units**
1.7
Rental vacancy rate**
6.1%
Oak Park, Illinois Renter-occupied housing units by no. of bedrooms**
There are 4,813 rentals in Oak Park, Illinois with 1 bed making up the highest share of the market, at 51%. Units with 4 beds, on the other hand, hold the lowest percentage (1%), amounting to 112 units. Overall, the median number of rooms in Oak Park, Illinois homes for rent is 3.8.
Oak Park, Illinois Renter-occupied units by age of householder**
Most condos for rent in Oak Park, Illinois are occupied by residents in the 25 - 34 years age group (26%), followed by those in the 35 - 44 years age group (21%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Oak Park, Illinois Renter-occupied housing units by family type**
Oak Park, Illinois Renter-occupied housing units by the presence of own children**
A total of 2,898 apartments for rent in Oak Park, Illinois, or 31% of all rentals are family households. Additionally, 14% of rental homes include children under the age of 18 – that’s 1,356 units. All in all, the median size of a renter-occupied household in Oak Park, Illinois is 1.7.
Oak Park, Illinois Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 63% of the rental market. In contrast, residents with less than a high school degree reside in 4% of the homes for rent in Oak Park, Illinois.
Oak Park, Illinois Renter-occupied units by year structure built**
The highest share of Oak Park, Illinois apartment rentals, namely 39% or 3,663 units, were Built 1939 or earlier, followed by those Built 1970 - 1979 (14%, 1,336 units), and the ones Built 1960 - 1969 (12%, 1,139 units).
Oak Park, Illinois Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Oak Park, Illinois renters (39%) moved in 2018 to 2020, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Oak Park, Illinois condos for rent is 2018.
Oak Park, Illinois Renter-occupied housing units by vehicles available**
When it comes to transportation options, 60% of Oak Park, Illinois renters have 1 vehicle available per household, 25% of them have No vehicle available, and 13% have 2 vehicles available.
Oak Park, Illinois Means of transportation to work of householders living in renter-occupied housing units**
Oak Park, 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 Park, 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
