Disclaimer: Covid-19 may have impacted rent prices in a way that is not yet reflected in our reports. When referencing the data published on this page, please keep in mind that the data provided here may not accurately depict the current reality of the market.
Oak Park, IL Rental Market Trends
What is the average rent in Oak Park?
The average rent for an apartment in Oak Park is $1,859, a 4% decrease compared to the previous year, when the average rent was $1,943.
Average Rent in Oak Park, IL
Last updated May 2021
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $1,859 | -4% | 840 sq. ft. |
What is the average apartment size in Oak Park?
The average size for a Oak Park, IL apartment is 840 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Oak Park, IL Apartment Rent Ranges
- $701-$1,0004%
- $1,001-$1,50024%
- $1,501-$2,00045%
- > $2,00027%
Oak Park, IL Occupied Housing Units
- Renter-occupied Households40%
- Owner-occupied Households59%
8,784 or 40% of the households in Oak Park, IL are renter-occupied while 12,819 or 59% are owner-occupied.
Oak Park, IL Rent Trends
| Average Rent | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Nov / 2019 | Mar / 2020 | Jul / 2020 | Nov / 2020 | May / 2021 |
|---|---|---|---|---|---|---|---|---|---|---|
| Oak Park, IL | $1,889 | $1,884 | $1,854 | $1,841 | $1,874 | $1,881 | $1,943 | $1,925 | $1,880 | $1,859 |
| National | $1,346 | $1,355 | $1,359 | $1,356 | $1,391 | $1,398 | $1,400 | $1,390 | $1,395 | $1,407 |
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How Oak Park Compares to Other Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Chicago | $1,862 | -6% |
| Oak Park | $1,859 | -4% |
| Evanston | $1,936 | n/a |
| Naperville | $1,549 | 3% |
| Riverdale | $812 | 5% |
| Schaumburg | $1,405 | n/a |
| Skokie | $1,588 | 1% |
| Kenosha | $1,100 | 5% |
| Arlington Heights | $1,414 | -2% |
| Des Plaines | $1,453 | -2% |
| Valparaiso | $1,029 | 5% |
Most Popular Apartments in Oak Park
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 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.