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Oakwood Hills

Learn about the people, housing, costs and businesses in Oakwood Hills, Illinois

Median Home$306,548
Median Rent$1,683/month
Population2,067
Leading IndustriesTransportation · Arts, Food & Hospitality · Healthcare5% transportation
Home Value Growth⬆⬆⬆+21.3% over 2 years
Young Adults25% of residents
Homeowners92% of occupied units
NotableHigh Incomes$104k/year · top 15% nationally
NotableHighly Educated25% bachelor's · 13% graduate · top 18% nationally
Oakwood Hills
IL

Frequently Asked Questions

What are today's mortgage rates in Oakwood Hills?

As of today, the 30-year fixed mortgage rate for Oakwood Hills is approximately 6.943% (6.950% 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 Oakwood Hills?

The median home value in Oakwood Hills is $307k. The median monthly rent is $1,683. Annual property taxes average $8k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Oakwood Hills?

Home values in Oakwood Hills have increased 21.3% 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 Oakwood Hills?

Based on a typical all-in ownership cost of $1,723/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $74k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Oakwood Hills is $104k/year.

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What industries drive the economy in Oakwood Hills?

The largest employment sectors in Oakwood Hills are public administration (23%) and retail (16%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.