Oakland, IL 61943 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Oakland, IL—61943

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$131,000

11.4% YoY Growth

Household Income

$57,500

7.4% YoY Growth

Days on Market

12.0% Longer YoY

Home Price Forecast

2.9%

Median Rent

$625

N/A

1-Bed Rent

N/A

2-Bed Rent

$625

N/A

3-Bed Rent

N/A

Home Price Trends — Oakland, IL

As of Dec '25, the median home price in Oakland, IL is $131,000, with a year-over-year change of 11.4%. This indicates that home prices in Oakland, IL are increasing. According to Zillow, the 1-year price projection is 2.9%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$131,000	11.4%
Single Family	$131,000	11.0%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Oakland, IL

Oakland, IL lacks sufficient rental market data for analysis.

Type	Median Rent	Average Rent
Average Rent	$625	$625
Studio Rent	N/A	N/A
1 Bed Rent	N/A	N/A
2 Bed Rent	$625	$625
3 Bed Rent	N/A	N/A
4 Bed Rent	N/A	N/A

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% of Rental Stock

1 Bedroom

33.1%

2 Bedrooms

38.4%

3 Bedrooms

20.5%

4 Bedrooms

7.9%

Property Listings — Oakland, IL

As of Dec '25, Realtor.com reports that the median days on market for a home in Oakland, IL is 82. This is a decrease of -20.0% 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	$158,000	-30.0%
Listing Count	5	10.0%
Listings as % of Homes	0.8%	10.0%
Days on Market	16	12.0%

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Demographics — Oakland, IL

As of the latest ACS Survey released in 2023, Oakland, IL has a population of 1,500, which has decreased by -9.9% over the past 5 years. Oakland, IL is a moderately popular place for families, as children make up 18.1% of the population. The area has a poorly educated workforce, with 15.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.7% reporting working from home.

Metric	Latest Census	YoY % Change
Population	1,500	-9.9%
% Under 18	18.1%	-12.1%
% Seniors	26.8%	20.7%
% WFH	8.7%	7.4%
% w/ College Degree	15.8%	-19.4%

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As of the latest ACS Survey released in 2023, Oakland, IL is a predominantly white area, with 95.5% of the population identifying as white. The white population has shrunk by 0.4% in the last 5 years. The second most common race or ethnicity in Oakland, IL is hispanic, making up 1.5% of the population. Foreign-born residents account for 0.8% of the population in Oakland, IL, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	95.5%	-0.4%
% Black	0.2%	∞%
% Hispanic	1.5%	-58.3%
% Asian	0.0%	N/A
% Foreign Born	0.8%	0.0%

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Mortgage and Risk — Oakland, IL

According to HUD data as of 2023, there were 33 mortgage originations in Oakland, IL, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Oakland, IL. Investor activity is low, as 3.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	33
% Conventional Loans	82.0%
% Government Loans	18.0%
% Investor Loans	3.0%
% Second Loans	0.0%
% Cash Out Refinance	12.0%

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Rentals and Section 8 — Oakland, IL

Oakland, 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	N/A	N/A	$680
2 Bedroom	$245	$625	$870
3 Bedroom	N/A	N/A	$1,160
4 Bedroom	N/A	N/A	$1,240

Oakland, IL—61943

Key Metrics at a Glance

Home Price Trends — Oakland, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Oakland, IL

% of Rental Stock

Property Listings — Oakland, IL

Demographics — Oakland, IL

Race and Ethnicity

Mortgage and Risk — Oakland, IL

Mortgages

Rentals and Section 8 — Oakland, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Oakland, IL

Home Price to Income Ratio

Oakland, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Hindsboro, IL

Ashmore, IL

Kansas, IL

Charleston, IL

Villa Grove, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	1.8
Median Home Price	$131,000
Median Household Income	$57,500

Oakland, IL—61943

Key Metrics at a Glance

Home Price Trends — Oakland, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Oakland, IL

% of Rental Stock

Property Listings — Oakland, IL

Demographics — Oakland, IL

Race and Ethnicity

Mortgage and Risk — Oakland, IL

Mortgages

Rentals and Section 8 — Oakland, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Oakland, IL

Home Price to Income Ratio

Oakland, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Hindsboro, IL

Ashmore, IL

Kansas, IL

Charleston, IL

Villa Grove, IL

Frequently Asked Questions

What is the average home price in Oakland, IL 61943?

How have home prices in Oakland, IL 61943 changed over the past year?

What is the home price projection for Oakland, IL 61943?

What are the demographics of Oakland, IL 61943?

How long does it take homes to sell in Oakland, IL 61943?

What is the average rent price in Oakland, IL 61943?