Oak Park, IL
Population 53,315 · Illinois
About Oak Park, IL
Oak Park is a mid-sized city located in Illinois with a population of 53,315 residents according to the latest US Census Bureau American Community Survey data. The median household income is $108,026 per year, which is 44% above the national median of $75,149. The median age of 40.6 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Oak Park features a median home value of $456,300, which is 86% above the national median of $244,900. This places Oak Park in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,456, 25% above the national average of $1,163/month. Of the 24,673 total housing units, 61% are owner-occupied (14,128 units) and 39% are renter-occupied (9,139 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Oak Park shows an unemployment rate of 5.5%, which is near the national rate of 3.7%. The poverty rate stands at 6.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Oak Park have an average one-way commute time of 31.8 minutes.
Education & Demographics
72.5% of Oak Park residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 4.8% White, 1.3% Hispanic or Latino, 1.5% Black or African American, and 2.0% Asian residents, with 8.7% of the population being foreign-born.
How Oak Park Ranks in Illinois
Cost of Living in Oak Park, IL
Compared to national averages, Oak Park has a median household income of $108,026 (44% above the national median of $75,149). Home values average $456,300, which is 86% above the national median. Monthly rent at $1,456 is 25% above the US average of $1,163. Within Illinois, Oak Park's income is 44% above the state average of $75,072, and home values are 175% above the state median of $165,779.
Why Live in Oak Park, IL?
Oak Park offers a strong local economy with a median household income of $108,026, well above the national average, and a well-educated community where 72.5% of residents hold a bachelor’s degree or higher, and a low poverty rate of 6.7%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $456,300. However, as a mid-sized city, Oak Park provides access to a wide range of amenities and services.
Oak Park has a population of 53,315 with a median age of 40.6 years. Compare Oak Park with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Oak Park
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Wheaton | 53,453 | $119,566 | $447,700 | Compare |
| Normal | 52,908 | $66,350 | $199,900 | Compare |
| Tinley Park | 55,007 | $103,819 | $289,000 | Compare |
| Hoffman Estates | 51,186 | $109,683 | $340,400 | Compare |
| Mount Prospect | 55,648 | $103,911 | $377,000 | Compare |
| Berwyn | 55,888 | $75,235 | $286,000 | Compare |
| Downers Grove | 49,867 | $119,649 | $439,000 | Compare |
| Oak Lawn | 57,098 | $82,493 | $267,900 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Oak Park With Other Cities
Frequently Asked Questions about Oak Park
What is the population of Oak Park, IL?
The population of Oak Park, IL is 53,315 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Illinois.
What is the median household income in Oak Park?
The median household income in Oak Park, IL is $108,026 per year, which is 44% above the national median of $75,149.
What is the median home value in Oak Park?
The median home value in Oak Park, IL is $456,300, which is 86% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Oak Park?
The median monthly rent in Oak Park, IL is $1,456, which is 25% above the national average of $1,163/month.
What is the unemployment rate in Oak Park?
The unemployment rate in Oak Park, IL is 5.5%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Oak Park, IL a good place to live?
Oak Park offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 53,315 and a median age of 40.6, the city appeals to a broad range of residents.
How educated is Oak Park, IL?
72.5% of residents in Oak Park aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Oak Park?
Key cost-of-living indicators for Oak Park, IL: median home value is $456,300 (86% above national), median rent is $1,456/month, and median household income is $108,026. The home-value-to-income ratio is 4.2x, a moderate figure by national standards.
What is the poverty rate in Oak Park?
The poverty rate in Oak Park, IL is 6.7%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Oak Park, IL?
Oak Park's population is 4.8% White, 1.3% Hispanic or Latino, 1.5% Black or African American, 2.0% Asian, and 19.3% two or more races. 8.7% of residents are foreign-born.