There are currently 13,321 real estate properties in Oak Park, IL, with a median automated valuation model (AVM) price of $453,000.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Oak Park, IL, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Oak Park, IL, is $473,423.00, with the most expensive house in Oak Park, IL, topping out at $5,371,000.00 and the cheapest home in Oak Park, IL, clocking in at $14,800.00. In other words, there’s something for every potential homebuyer or savvy investor in Oak Park, IL!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Oak Park, IL, is on a rollercoaster ride. The average rent price in Oak Park, IL, is $2,441.00. Indeed, when looking to rent in Oak Park, IL, you can expect to pay as little as $740.00 or as much as $3,680.00, with the average rent median estimated to be $2,500.00. The good news is that finding an affordable and desirable property to rent in Oak Park, IL -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Oak Park, IL area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Oak Park, IL and much more. Save thousands at closing with home foreclosure listings in Oak Park, IL — up to 75% off market value!
Oak Park is located in Cook, Illinois, with an estimated municipal population of 52,381 residents. All of the best foreclosed homes for sale in Oak Park are located in the following zip code areas on Foreclosure.com: 60301 60302 60304 60303. The estimated population per square kilometer (.62 miles) in Oak Park is 4,303.
So, about how much do homes cost in Oak Park? The most recent median value of resident-owned homes in Oak Park is 384,020. An estimated 59.5 percent of households in Oak Park own their homes, with an average family size of 3.15. The median household income in Oak Park is 94,646, with48.2 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Oak Park, the median commute time of resident workers (in minutes) is 35.8. And last, but certainly not least, are you looking for homes to rent in Oak Park? If so, the average rent price paid by renters in Oak Park is 1,175, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Oak Park, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Oak Park is 39.8, split between 47.4 percent male versus 52.6 female. The percentage of residents who report being married in Oak Park is 50.3, with an average family size of 3.15.
The percentage of residents who report their race in Oak Park is as follows:
|Black / African American||18.2%|
|American Indian / Alaskan Native||0.2%|
|Native Hawaiian / Other Pacifc Islander||0.1%|
Looking for family-friendly neighborhoods in and/or near Oak Park? Or maybe you are searching for 55+ active adult communities in and/or near Oak Park?
The percentage of residents who report their age in Oak Park is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Oak Park with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Oak Park.
How do you know that living in -- or moving to -- Oak Park is right where you need to be? Perhaps you grew up in Oak Park or already live nearby; therefore, the decision to buy a home in Oak Park is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Oak Park for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Oak Park:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Oak Park.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Oak Park can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Oak Park, meanwhile, can field multiple offers from more qualified buyers.