Oakwood, IL—61858
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Oakwood, IL
As of Oct '25, the median home price in Oakwood, IL is $157,000, with a year-over-year change of 6.8%. This indicates that home prices in Oakwood, IL are increasing. According to Zillow, the 1-year price projection is 0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $157,000 | 6.8% |
| Single Family | $157,000 | 7.5% |
| 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 | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Oakwood, IL
As of July '25, Rentcast reports the average rent in Oakwood, IL is $750, with a year-over-year rent change of -38.5%. Per bedroom, the median rent as of July '25 in Oakwood, IL is 1-bedrooms: $750. The most common rental property sizes in Oakwood, IL are 3-bedroom and 2-bedroom, accounting for 39.1% and 29.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $750 | $750 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $750 | $750 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Oakwood, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Oakwood, IL is 100. This is a decrease of -6.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $236,000 | 71.0% |
Listing Count | 10 | -47.0% |
| Listings as % of Homes | 0.7% | -47.0% |
Days on Market | 100 | -6.0% |
Demographics — Oakwood, IL
As of the latest ACS Survey released in 2023, Oakwood, IL has a population of 2,720, which has decreased by -10.0% over the past 5 years. Oakwood, IL is a popular place for families, as children make up 27.2% of the population. The area has a poorly educated workforce, with 13.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,720 | -10.0% |
% Under 18 | 27.2% | 24.8% |
% Seniors | 21.2% | 17.1% |
% WFH | 10.1% | 42.3% |
% w/ College Degree | 13.3% | -10.1% |
As of the latest ACS Survey released in 2023, Oakwood, IL is a predominantly white area, with 97.9% of the population identifying as white. The white population has grown by 2.3% in the last 5 years. The second most common race or ethnicity in Oakwood, IL is black, making up 0.3% of the population. Foreign-born residents account for 1.0% of the population in Oakwood, IL, and this percentage has increased by 42.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 97.9% | 2.3% |
% Black | 0.3% | -50.0% |
% Hispanic | 0.2% | -93.1% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 1.0% | 42.9% |
Mortgage and Risk — Oakwood, IL
According to HUD data as of 2023, there were 45 mortgage originations in Oakwood, IL, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 78.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in Oakwood, IL. Investor activity is low, as 0.0% of loans were by investors. 0.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 45 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 0.0% |
Loan Activity
Rentals and Section 8 — Oakwood, IL
Oakwood, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$30 | $750 | $720 |
| 2 Bedroom | N/A | N/A | $950 |
| 3 Bedroom | N/A | N/A | $1,160 |
| 4 Bedroom | N/A | N/A | $1,280 |
Affordability — Oakwood, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.5 |
| Median Home Price | $157,000 |
| Median Household Income | $55,000 |