Real Estate Investing in Oak Lawn, Illinois (60453)
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Should you buy in 60453 (Oak Lawn, IL)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
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 Lawn, IL (60453)?
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Market Analysis: 60453 Oak Lawn
Not every below-median market is a bargain. Oak Lawn's 60453 ZIP shows signals that favor experienced operators who can absorb the risk $301K pricing implies.
The investment case in 60453 is solid only for operators who understand what they are buying. A $301K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Statewide comparisons place 60453 among IL's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
A sturdy renter share of 18% in 60453 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The 60453 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Oak Lawn:
Property Strategy for 60453
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $127,793 | $1,460 | 8.2% | +9.5% | $127,793 |
| 2BR | $193,294 | $1,640 | 6.1% | +7.9% | $96,647 |
| 3BR | $301,940 | $2,110 | 5.0% | +7.2% | $100,647 |
| 4BR | $359,126 | $2,440 | 4.9% | +6.8% | $89,781 |
| 5BR | $403,511 | — | — | +6.4% | $80,702 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60453 Compare?
| Metric | 60453 | Oak Lawn | Illinois |
|---|---|---|---|
| Home Value | $301,421 | $301,421 | $279,761 |
| 5-Year CAGR | 5.7% | 5.7% | 6.6% |
| Avg Rent | $1,808 | $1,808 | - |
| Cap Rate | 4.7% | 4.7% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 60453 (Oak Lawn, 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 | $301,421 |
| Monthly Rent | $1,808 |
| Price-to-Rent | 13.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.2% |
| Cap Rate | 4.7% |
| 5-Year IRR | 10.4% |
📈 Home Appreciation
| 1-Year | +10.6% ▲ |
| 3-Year CAGR | +6.2% ▲ |
| 5-Year CAGR | +5.7% ▲ |
| 10-Year CAGR | +6.3% ▲ |
🏠 Rent Trends
| 1-Year | -1.1% ▼ |
| 3-Year CAGR | +4.5% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.7%). 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 60453
Population: 57,098
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 60453
Schools in This ZIP Code
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 3,681 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much rent can I charge in Oak Lawn, IL?
Rents in Oak Lawn, IL run near $1,808/mo. Compared with median home prices of $301K that produces solid gross yields for typical rentals.
How quickly do rentals get leased in Oak Lawn, IL?
Oak Lawn, IL carries elevated vacancy risk. Expect even-keeled absorption at market rents of $1,808/mo.
How strong is Oak Lawn, IL for real estate investors?
Oak Lawn, IL rates 3.0/5 for investability. With median values at $301K and rents near $1,808/mo, the market offers reasonable fundamentals for rental investors.
Where do home prices stand in Oak Lawn, IL?
Oak Lawn, IL median home values land near $301K. That is reasonable territory for investors looking at $1,808/mo-per-month rentals.
Is house hacking profitable in Oak Lawn, IL?
House hacking works a challenging in Oak Lawn, IL. Rents of $1,808/mo against $301K acquisition make the strategy solid for owner-occupants.
You know 60453 now. You don’t know where it ranks.
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How 60453 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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