Oak Park, CA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Oak Park, CA Housing Market Trends

With 14,276 people, 5,303 houses or apartments, and a median cost of homes of $866,364, Oak Park house prices are not only among the most expensive in California, Oak Park real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Oak Park, accounting for 59.67% of the town's housing units. Other types of housing that are prevalent in Oak Park include row houses and other attached homes ( 19.37%), large apartment complexes or high rise apartments ( 15.22%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.87%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Oak Park. Owner-occupied housing accounts for 69.09% of Oak Park's homes, and 55.75% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Oak Park built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Oak Park built between 2000 and later ( 4.39%). A lesser amount of the housing stock also hails from between 1940-1969 ( 4.33%).

Oak Park Home Appreciation Rates

In the last 10 years, Oak Park has experienced some of the highest home appreciation rates of any community in the nation. Oak Park real estate appreciated 54.35% over the last ten years, which is an average annual home appreciation rate of 4.44%, putting Oak Park in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Oak Park definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Oak Park appreciation rates have trailed the rest of the nation. In the last twelve months, Oak Park's appreciation rate has been 4.48%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Oak Park were at 1.99%, which equates to an annual appreciation rate of 8.21%.

Relative to California, our data show that Oak Park's latest annual appreciation rate is lower than 70% of the other cities and towns in California.

Average Home Values

 

Median Home Value:
$866,364

Oak Park, CA HOME PRICES

> $1,159,000
23.0%
23.0%
$869,001 - $1,159,000
31.1%
31.1%
$580,001 - $869,000
29.9%
29.9%
$464,001 - $580,000
9.2%
9.2%
$348,001 - $464,000
2.6%
2.6%
$232,001 - $348,000
2.6%
2.6%
$116,001 - $232,000
0.5%
0.5%
$58,001 - $116,000
0.0%
0.0%
$0 - $58,000
1.2%
1.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for CA

Value Relative To Nation

Number Of Homes And Apartments:
5,303

Oak Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
142.55% 4.31%
7
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,368 / per month

Homeownership Rate

Owners
69.1%
69.1%
Renters
30.9%
30.9%
Vacant
1.8%
1.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
4.4%
4.4%
1970 - 1999
90.7%
90.7%
1940 - 1969
4.3%
4.3%
1939 or Older
0.6%
0.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
59.7%
59.7%
Townhomes
19.4%
19.4%
Small Apt. Buildings
4.9%
4.9%
Apt. Complexes
15.2%
15.2%
Mobile Homes
0.9%
0.9%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.2%
1.2%
1 Bedroom
6.5%
6.5%
2 Bedrooms
24.8%
24.8%
3 Bedrooms
24.9%
24.9%
4 Bedrooms
30.9%
30.9%
5 or more bedrooms
11.8%
11.8%
0.0% 100.0%
% OF HOMES