Real Estate Investing in Oak Park, Illinois (60302)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60302 (Oak Park, IL)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Oak Park, IL (60302)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60302 Oak Park
Put differently, ZIP 60302 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $475K median. It rewards specialists, not generalists.
Rent of $1,851/mo on a $475K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 60302 sits below the stated 0.0% once reality is priced in.
In the broader IL picture, 60302 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
A solid renter share of 40% in 60302 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Distressed ZIPs reward experience. durable returns are possible in 60302, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Oak Park:
Property Strategy for 60302
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $160,777 | $1,590 | 7.1% | +5.8% | $160,777 |
| 2BR | $257,476 | $1,790 | 5.0% | +4.7% | $128,738 |
| 3BR | $516,605 | $2,310 | 3.2% | +5.3% | $172,202 |
| 4BR | $730,209 | $2,670 | 2.6% | +6.1% | $182,552 |
| 5BR | $976,261 | — | — | +5.9% | $195,252 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60302 Compare?
| Metric | 60302 | Oak Park | Illinois |
|---|---|---|---|
| Home Value | $474,897 | $432,721 | $279,761 |
| 5-Year CAGR | 5.2% | 5.5% | 6.6% |
| Avg Rent | $1,851 | $1,946 | - |
| Cap Rate | 3.0% | 3.8% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 60302 (Oak Park, IL). Anonymous, moderated, never written by AI.
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Property managers serving Cook County
Manage rentals here? List your business →American Property Management of Illinois, Inc. (Associa) provides comprehensive HOA and condominium management services in Chicago and surrounding areas. summary from their website
Blackhawk Realty Management, LLC provides professional property management and real estate services for its multifamily apartment portfolio, founded in 2004. summary from their website
Buckingham Property Management, Inc. offers apartment rentals and management services. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $474,897 |
| Monthly Rent | $1,851 |
| Price-to-Rent | 21.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.7% |
| Cap Rate | 3.0% |
| 5-Year IRR | 8.3% |
📈 Home Appreciation
| 1-Year | +15.7% ▲ |
| 3-Year CAGR | +7.6% ▲ |
| 5-Year CAGR | +5.2% ▲ |
| 10-Year CAGR | +3.8% ▲ |
🏠 Rent Trends
| 1-Year | -4.4% ▼ |
| 3-Year CAGR | +1.5% ▲ |
| 5-Year CAGR | +3.4% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 60302
Population: 32,589
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 60302
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Abraham Lincoln Elem School
Brunson Math & Sci Specialty Elem
Clark Acad Prep Magnet High Schl
Howe Elem School
Irving Middle School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 4,029 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Where do rents currently stand in Oak Park, IL?
Investors in Oak Park, IL typically see rents near $1,851/mo per month against $475K home values - a solid setup for rental cash flow.
Are renters plentiful in Oak Park, IL?
Working renters make up the core of the Oak Park, IL tenant base. The pool is reasonable for investors targeting long-term holds.
What is the typical home price in Oak Park, IL?
Homes in Oak Park, IL typically sell near $475K. Prices have moved at a 0.0% 5-year CAGR, which measured long-term demand.
How high is vacancy risk in Oak Park, IL?
Oak Park, IL carries elevated vacancy risk. Expect steady absorption at market rents of $1,851/mo.
What strategy should investors use in Oak Park, IL?
A careful cash-flow rentals with hands-on management strategy Oak Park, IL best. The market produces steady results for that approach at the $475K price point.
You know 60302 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 60302 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 60302 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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