Oak Ridge, IL—61548
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Oak Ridge, IL
As of Oct '25, the median home price in Oak Ridge, IL is $280,000, with a year-over-year change of 8.2%. This indicates that home prices in Oak Ridge, IL are increasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $280,000 | 8.2% |
| Single Family | $281,000 | 8.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $179,000 | 8.5% |
3 Bed | $258,000 | 7.9% |
4 Bed | $341,000 | 5.6% |
| 5 Bed | $417,000 | 4.2% |
% of Housing Stock
Rental Trends — Oak Ridge, IL
As of July '25, Rentcast reports the average rent in Oak Ridge, IL is $1,220, with a year-over-year rent change of -24.7%. Per bedroom, the median rent as of July '25 in Oak Ridge, IL is 3-bedrooms: $1,220. The most common rental property sizes in Oak Ridge, IL are 3-bedroom and 2-bedroom, accounting for 47.1% and 42.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,220 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,200 | $1,220 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Oak Ridge, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Oak Ridge, IL is 35. This is a increase of 28.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 8.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $306,000 | -3.0% |
Listing Count | 25 | -14.0% |
| Listings as % of Homes | 0.5% | -14.0% |
Days on Market | 35 | 28.0% |
Demographics — Oak Ridge, IL
As of the latest ACS Survey released in 2023, Oak Ridge, IL has a population of 12,200, which has increased by 1.8% over the past 5 years. Oak Ridge, IL is a moderately popular place for families, as children make up 24.6% of the population. The area has a highly educated workforce, with 51.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 12,200 | 1.8% |
% Under 18 | 24.6% | -7.9% |
% Seniors | 16.9% | 16.6% |
% WFH | 13.1% | 227.5% |
% w/ College Degree | 51.0% | 15.1% |
As of the latest ACS Survey released in 2023, Oak Ridge, IL is a predominantly white area, with 95.5% of the population identifying as white. The white population has remained stable in the last 5 years. The second most common race or ethnicity in Oak Ridge, IL is hispanic, making up 1.7% of the population. Foreign-born residents account for 2.0% of the population in Oak Ridge, IL, and this percentage has decreased by 4.8% 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 | 95.5% | 0.0% |
% Black | 0.3% | 50.0% |
% Hispanic | 1.7% | 41.7% |
% Asian | 1.0% | -9.1% |
% Foreign Born | 2.0% | -4.8% |
Mortgage and Risk — Oak Ridge, IL
According to HUD data as of 2023, there were 266 mortgage originations in Oak Ridge, IL, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Oak Ridge, IL. Investor activity is low, as 1.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 266 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Oak Ridge, IL
Oak Ridge, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 52 |
Total Units Section 8 | 52 |
% Rentals under Section 8 | 13.8% |
% Occupied Section 8 | 72.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $950 |
| 2 Bedroom | N/A | N/A | $1,200 |
| 3 Bedroom | $360 | $1,200 | $1,560 |
| 4 Bedroom | N/A | N/A | $1,630 |
Affordability — Oak Ridge, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.2 |
| Median Home Price | $280,000 |
| Median Household Income | $114,000 |