Cost of Living in Oak Park, MI
Population: 29,370 • 2026 Data
$65,882
Median Household Income
-15% vs national
$1,354
Median Monthly Rent
+0% vs national
$198,500
Median Home Value
-41% vs national
9.9%
Unemployment Rate
Housing in Oak Park
The median home value in Oak Park, MI is $198,500. Monthly rent for a typical unit averages $1,354, while total monthly housing costs (including utilities and insurance) average $1,237.
Rent-to-income ratio: 24.7%. 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, MI is $65,882. The unemployment rate stands at 9.9%, with a labor force of 16,480 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.