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Oakbrook Terrace

Learn about the people, housing, costs and businesses in Oakbrook Terrace, Illinois

Median Home$302,375
Median Rent$2,024/month
Population2,755
Leading IndustriesTransportation · Professional Services · Finance & Insurance3% transportation
Home Value Growth⬆⬆⬆+22.5% over 2 years
Retirees25% of residentsabove average nationally
Homeowners68% of occupied units
NotableAmenity Score88/100 · highly walkable area
NotableTransit83/100 · excellent transit access
Oakbrook Terrace
IL

Frequently Asked Questions

What are today's mortgage rates in Oakbrook Terrace?

As of today, the 30-year fixed mortgage rate for Oakbrook Terrace is approximately 7.073% (7.084% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Oakbrook Terrace?

The median home value in Oakbrook Terrace is $302k. The median monthly rent is $2,024. Annual property taxes average $5k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Oakbrook Terrace?

Home values in Oakbrook Terrace have increased 22.5% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Oakbrook Terrace?

Based on a typical all-in ownership cost of $1,757/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $75k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Oakbrook Terrace is $84k/year.

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What industries drive the economy in Oakbrook Terrace?

The largest employment sectors in Oakbrook Terrace are public administration (23%) and retail (11%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.