Olympia Fields, IL—60461
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Olympia Fields, IL
As of Oct '25, the median home price in Olympia Fields, IL is $322,000, with a year-over-year change of 1.9%. This indicates that home prices in Olympia Fields, IL are increasing. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $322,000 | 1.9% |
| Single Family | $325,000 | 2.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $284,000 | 2.2% |
4 Bed | $333,000 | 2.8% |
| 5 Bed | $389,000 | 1.6% |
% of Housing Stock
Rental Trends — Olympia Fields, IL
As of July '25, Rentcast reports the average rent in Olympia Fields, IL is $3,960, with a year-over-year rent change of 23.8%. Per bedroom, the median rent as of July '25 in Olympia Fields, IL is 3-bedrooms: $3,500, 4-bedrooms: $4,420. The most common rental property sizes in Olympia Fields, IL are 1-bedroom and 3-bedroom, accounting for 50.6% and 19.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,500 | $3,960 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $3,500 | $3,500 |
| 4 Bed Rent | $4,420 | $4,420 |
% of Rental Stock
Property Listings — Olympia Fields, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Olympia Fields, IL is 30. This is a decrease of -12.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 57.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $372,000 | 1.0% |
Listing Count | 21 | -35.0% |
| Listings as % of Homes | 1.7% | -35.0% |
Days on Market | 30 | -12.0% |
Demographics — Olympia Fields, IL
As of the latest ACS Survey released in 2023, Olympia Fields, IL has a population of 4,680, which has decreased by -4.9% over the past 5 years. Olympia Fields, IL is a moderately popular place for families, as children make up 20.8% of the population. The area has a highly educated workforce, with 49.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,680 | -4.9% |
% Under 18 | 20.8% | 11.8% |
% Seniors | 30.6% | -5.8% |
% WFH | 16.4% | 203.7% |
% w/ College Degree | 49.4% | -8.5% |
As of the latest ACS Survey released in 2023, Olympia Fields, IL is a predominantly black area, with 77.8% of the population identifying as black. The black population has grown by 3.5% in the last 5 years. The second most common race or ethnicity in Olympia Fields, IL is white, making up 18.7% of the population. Foreign-born residents account for 3.2% of the population in Olympia Fields, IL, and this percentage has decreased by 25.6% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 18.7% | -5.1% |
% Black | 77.8% | 3.5% |
% Hispanic | 0.4% | ∞% |
% Asian | 1.5% | -31.8% |
% Foreign Born | 3.2% | -25.6% |
Mortgage and Risk — Olympia Fields, IL
According to HUD data as of 2023, there were 79 mortgage originations in Olympia Fields, IL, of which 56.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 49.0% above 90% LTV (very high). This implies large mortgage risk in Olympia Fields, IL. Investor activity is low, as 1.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 79 |
% Conventional Loans | 56.0% |
% Government Loans | 44.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Olympia Fields, IL
Olympia Fields, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 15 |
Total Units Section 8 | 15 |
% Rentals under Section 8 | 4.3% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $2,340 |
| 2 Bedroom | N/A | N/A | $2,640 |
| 3 Bedroom | -$110 | $3,500 | $3,390 |
| 4 Bedroom | -$440 | $4,420 | $3,980 |
Affordability — Olympia Fields, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $322,000 |
| Median Household Income | $108,000 |