Oakbrook Terrace, IL
Population 2,714 · Illinois
About Oakbrook Terrace, IL
Oakbrook Terrace is a small town located in Illinois with a population of 2,714 residents according to the latest US Census Bureau American Community Survey data. The median household income is $70,586 per year, which is 6% below the national median of $75,149. The median age of 34.4 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Oakbrook Terrace features a median home value of $315,600, which is 29% above the national median of $244,900. This positions Oakbrook Terrace in a moderately priced market relative to the rest of the country. Median monthly rent is $1,830, 57% above the national average of $1,163/month. Of the 1,447 total housing units, 26% are owner-occupied (342 units) and 74% are renter-occupied (978 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Oakbrook Terrace shows an unemployment rate of 4.0%, which is near the national rate of 3.7%. The poverty rate stands at 17.8%, above the national average of 12.4%. Workers in Oakbrook Terrace have an average one-way commute time of 28 minutes.
Education & Demographics
55.5% of Oakbrook Terrace 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 4.9% White, 0.7% Hispanic or Latino, 0.8% Black or African American, and 3.6% Asian residents, with 21.3% of the population being foreign-born.
Cost of Living in Oakbrook Terrace, IL
Compared to national averages, Oakbrook Terrace has a median household income of $70,586 (6% below the national median of $75,149). Home values average $315,600, which is 29% above the national median. Monthly rent at $1,830 is 57% above the US average of $1,163. Within Illinois, Oakbrook Terrace's income is 6% below the state average of $75,072, and home values are 90% above the state median of $165,779.
Why Live in Oakbrook Terrace, IL?
Oakbrook Terrace offers a well-educated community where 55.5% of residents hold a bachelor’s degree or higher.
Potential considerations include median household income ($70,586) that falls below the national average. However, Oakbrook Terrace’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Oakbrook Terrace has a population of 2,714 with a median age of 34.4 years. Compare Oakbrook Terrace with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Oakbrook Terrace
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Pawnee | 2,706 | $77,977 | $151,100 | Compare |
| Venetian Village | 2,704 | $91,786 | $216,900 | Compare |
| Hamilton | 2,738 | $53,487 | $105,600 | Compare |
| Mount Morris | 2,679 | $38,162 | $117,600 | Compare |
| McLeansboro | 2,750 | $46,589 | $72,200 | Compare |
| Trenton | 2,673 | $80,227 | $179,200 | Compare |
| Rushville | 2,668 | $57,589 | $91,000 | Compare |
| Bushnell | 2,763 | $55,368 | $69,100 | 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 Oakbrook Terrace With Other Cities
Frequently Asked Questions about Oakbrook Terrace
What is the population of Oakbrook Terrace, IL?
The population of Oakbrook Terrace, IL is 2,714 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Illinois.
What is the median household income in Oakbrook Terrace?
The median household income in Oakbrook Terrace, IL is $70,586 per year, which is 6% below the national median of $75,149.
What is the median home value in Oakbrook Terrace?
The median home value in Oakbrook Terrace, IL is $315,600, which is 29% above the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Oakbrook Terrace?
The median monthly rent in Oakbrook Terrace, IL is $1,830, which is 57% above the national average of $1,163/month.
What is the unemployment rate in Oakbrook Terrace?
The unemployment rate in Oakbrook Terrace, IL is 4.0%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Oakbrook Terrace, IL a good place to live?
Oakbrook Terrace offers a moderate cost of living, a competitive housing market, and growing employment opportunities. With a population of 2,714 and a median age of 34.4, the city appeals to young professionals and families.
How educated is Oakbrook Terrace, IL?
55.5% of residents in Oakbrook Terrace 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 Oakbrook Terrace?
Key cost-of-living indicators for Oakbrook Terrace, IL: median home value is $315,600 (29% above national), median rent is $1,830/month, and median household income is $70,586. The home-value-to-income ratio is 4.5x, a moderate figure by national standards.
What is the poverty rate in Oakbrook Terrace?
The poverty rate in Oakbrook Terrace, IL is 17.8%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Oakbrook Terrace, IL?
Oakbrook Terrace's population is 4.9% White, 0.7% Hispanic or Latino, 0.8% Black or African American, 3.6% Asian, and 25.7% two or more races. 21.3% of residents are foreign-born.