Oak Brook, IL 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 Brook, IL Housing Market Trends

With a population of 8,016, 3,039 total housing units (homes and apartments), and a median house value of $901,892, Oak Brook house prices are not only among the most expensive in Illinois, Oak Brook real estate also is some of the most expensive in all of America.

Oak Brook is a village of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Oak Brook than is found in 98% of the communities in America.

The large homes that make up Oak Brook are primarily owner-occupied ( 94.51%).

There is a lot of housing in Oak Brook 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 Brook built between 1940-1969 ( 25.53%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.57%). There's also some housing in Oak Brook built before 1939 ( 1.28%).

Oak Brook Home Appreciation Rates

Real estate appreciation rates in Oak Brook's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.66% during the period.

Over the last year, Oak Brook appreciation rates have trailed the rest of the nation. In the last twelve months, Oak Brook's appreciation rate has been 2.67%, 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 Brook were at 1.28%, which equates to an annual appreciation rate of 5.20%.

Notably, Oak Brook's appreciation rate in the latest quarter is one of the lowest in America.

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

Average Home Values

 

Median Home Value:
$901,892

Oak Brook, IL HOME PRICES

> $1,123,000
23.8%
23.8%
$842,001 - $1,123,000
17.6%
17.6%
$561,001 - $842,000
19.0%
19.0%
$449,001 - $561,000
9.1%
9.1%
$337,001 - $449,000
8.9%
8.9%
$225,001 - $337,000
14.8%
14.8%
$112,001 - $225,000
4.4%
4.4%
$56,001 - $112,000
1.1%
1.1%
$0 - $56,000
1.3%
1.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for IL

Value Relative To Nation

Number Of Homes And Apartments:
3,039

Oak Brook Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
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
62.02% 2.32%
9
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,131 / per month

Homeownership Rate

Owners
94.5%
94.5%
Renters
5.5%
5.5%
Vacant
7.4%
7.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
9.6%
9.6%
1970 - 1999
63.6%
63.6%
1940 - 1969
25.5%
25.5%
1939 or Older
1.3%
1.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
82.3%
82.3%
Townhomes
8.1%
8.1%
Small Apt. Buildings
0.2%
0.2%
Apt. Complexes
9.0%
9.0%
Mobile Homes
0.4%
0.4%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
0.6%
0.6%
2 Bedrooms
12.5%
12.5%
3 Bedrooms
22.8%
22.8%
4 Bedrooms
37.6%
37.6%
5 or more bedrooms
26.6%
26.6%
0.0% 100.0%
% OF HOMES