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Orland Park, 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 Q3 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

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

Orland Park, IL Housing Market Trends

With a population of 57,850, 22,487 total housing units (homes and apartments), and a median house value of $383,914, Orland Park real estate is some of the most expensive in Illinois, although Orland Park home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Orland Park, accounting for 56.93% of the village's housing units. Other types of housing that are prevalent in Orland Park include row houses and other attached homes ( 20.42%), large apartment complexes or high rise apartments ( 17.56%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.09%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Orland Park. Owner-occupied housing accounts for 85.67% of Orland Park's homes, and 57.71% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Orland 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 Orland Park built between 2000 and later ( 17.60%). A lesser amount of the housing stock also hails from between 1940-1969 ( 10.54%).

Orland Park Home Appreciation Rates

Orland Park's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Orland Park during the period has been just 3.77%, which is lower than 80% of US communities.

Over the last year, Orland Park appreciation rates have trailed the rest of the nation. In the last twelve months, Orland Park's appreciation rate has been 11.61%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Orland Park were at 4.51%, which equates to an annual appreciation rate of 19.32%.

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

One very important thing to keep in mind is that these are average appreciation rates for the village. Individual neighborhoods within Orland Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Orland Park - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Orland Park real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$383,914

Orland Park, IL HOME PRICES

> $1,293,000
$970,001 - $1,293,000
$647,001 - $970,000
$517,001 - $647,000
$388,001 - $517,000
$259,001 - $388,000
$129,001 - $259,000
$65,001 - $129,000
$0 - $65,000
0.3%
0.3%
1.5%
1.5%
6.6%
6.6%
9.5%
9.5%
26.7%
26.7%
32.6%
32.6%
18.7%
18.7%
2.5%
2.5%
1.6%
1.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for IL

Value Relative To Nation

Number Of Homes And Apartments:
22,487

Orland Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2022 Q2 - 2022 Q3
Last 12 Months:
2021 Q3 - 2022 Q3
Last 2 Years:
2020 Q3 - 2022 Q3
Last 5 Years:
2017 Q3 - 2022 Q3
Last 10 Years:
2012 Q3 - 2022 Q3
Since 2000:
2000 Q1 - 2022 Q3
59.88% 2.08%
4
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,987 / per month

Homeownership Rate

Owners
Renters
Vacant
85.7%
85.7%
14.3%
14.3%
4.2%
4.2%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
17.6%
17.6%
71.2%
71.2%
10.5%
10.5%
0.7%
0.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
56.9%
56.9%
20.4%
20.4%
5.1%
5.1%
17.6%
17.6%
0.0%
0.0%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.1%
1.1%
3.3%
3.3%
32.2%
32.2%
36.2%
36.2%
21.5%
21.5%
5.6%
5.6%
0.0% 100.0%
% OF HOMES