Cost of Living in Oak Park, IL
Population: 53,315 • 2026 Data
$108,026
Median Household Income
+40% vs national
$1,456
Median Monthly Rent
+8% vs national
$456,300
Median Home Value
+35% vs national
5.5%
Unemployment Rate
Housing in Oak Park
The median home value in Oak Park, IL is $456,300. Monthly rent for a typical unit averages $1,456, while total monthly housing costs (including utilities and insurance) average $1,990.
Rent-to-income ratio: 16.2%. 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 Park, IL is $108,026. The unemployment rate stands at 5.5%, with a labor force of 29,688 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.