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Real Estate Prices & Overview

Downtown Oak Park median real estate price is $274,887, which is more expensive than 47.4% of the neighborhoods in Illinois and 35.2% of the neighborhoods in the U.S.

The average rental price in Downtown Oak Park is currently $3,904, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.5% of the neighborhoods in Illinois.

Downtown Oak Park is a densely urban neighborhood (based on population density) located in Oak Park, Illinois.

Downtown Oak Park real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Downtown Oak Park neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Home and apartment vacancy rates are 7.6% in Downtown Oak Park. NeighborhoodScout analysis shows that this rate is lower than 50.2% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Real Estate

The Downtown Oak Park neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 91.9% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

In addition, one of the really unique and interesting things about the look and setting of the Downtown Oak Park neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 86.5% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 97.7% of all neighborhoods in America.

Furthermore, if you like crowded places, then you will probably enjoy the the Downtown Oak Park neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.2% of neighborhoods in the U.S., with 21,363 people per square mile living here.

People

If knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Downtown Oak Park neighborhood, where 41.6% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.4% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 97.6% of the neighborhoods in America.

In addition, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 53.3%. This is a higher percent living alone than we found in 97.1% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.

Modes of Transportation

In the Downtown Oak Park neighborhood, 18.6% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 97.1% of the neighborhoods in America.

Diversity

Did you know that the Downtown Oak Park neighborhood has more Lithuanian and Croatian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.5% of this neighborhood's residents have Lithuanian ancestry and 1.0% have Croatian ancestry.

Downtown Oak Park is also pretty special linguistically. Significantly, 1.0% of its residents five years old and above primarily speak Japanese at home. While this may seem like a small percentage, it is higher than 97.5% of the neighborhoods in America.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Downtown Oak Park neighborhood. In the Downtown Oak Park neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 95.4% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Downtown Oak Park neighborhood in Oak Park are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 66.5% of the neighborhoods in America. With 23.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 73.3% of U.S. neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Downtown Oak Park neighborhood, 66.0% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 18.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.5%), and 5.6% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Downtown Oak Park neighborhood is English, spoken by 79.9% of households. Some people also speak Spanish (9.7%).

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Downtown Oak Park neighborhood in Oak Park, IL, residents most commonly identify their ethnicity or ancestry as German (16.0%). There are also a number of people of Irish ancestry (14.9%), and residents who report Asian roots (10.9%), and some of the residents are also of English ancestry (10.6%), along with some Mexican ancestry residents (9.4%), among others. In addition, 16.0% of the residents of this neighborhood were born in another country.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Downtown Oak Park neighborhood spend between 45 minutes and one hour commuting one-way to work (41.0% of working residents), longer and tougher than most commutes in America.

Here most residents (45.4%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (18.6%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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