Cost of Living in Oak Forest, IL
Population: 26,888 • 2026 Data
$87,941
Median Household Income
+14% vs national
$1,287
Median Monthly Rent
-5% vs national
$247,800
Median Home Value
-27% vs national
5.2%
Unemployment Rate
Housing in Oak Forest
The median home value in Oak Forest, IL is $247,800. Monthly rent for a typical unit averages $1,287, while total monthly housing costs (including utilities and insurance) average $1,421.
Rent-to-income ratio: 17.6%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Oak Forest, IL is $87,941. The unemployment rate stands at 5.2%, with a labor force of 15,130 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.