Low Income Apartments and Affordable Housing For Rent in Oak Park, IL

Discover affordable housing in Oak Park where there are 5+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

The 801

801 Van Buren St., Oak Park, Illinois 60304

The Oaks

114 S Humphrey Ave, Oak Park, Illinois 60302

Ryan Farrelly Apartments

435 S Humphrey Ave, Oak Park, Illinois 60302

Mills Park Tower

1025 Pleasant Pl, Oak Park, Illinois 60302

Heritage House Apartments, Llc

201 Lake St, Oak Park, Illinois 60302

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Oak Park, Illinois
$32.46/hour
$18.46 (+132%) more than Illinois minimum wage and $25.21 (+348%) more than the Federal minimum wage.
Learn More About Oak Park, Illinois Affordable Housing ↓

What HUD offices serve Oak Park, Illinois?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Oak Park, Illinois.

Go to the Illinois Public Housing and Low-Income Apartments Waiting Lists page for openings near Oak Park.

How many renters live in Oak Park, Illinois?

The City of Oak Park has 53,834 people living in 23,345 households.

There are 16,106 renters living in 9,451 renter households in this City. Renters make up 29.92 percent of the population living in Oak Park.

What is the rental market like in Oak Park, Illinois?

There are an estimated 24,708 housing units in the Oak Park area. Of these, 10,075 units are rental homes, making up 41 percent of the housing market. For every renter household in Oak Park, Illinois, there are 1 rental units.

What is the vacancy rate for rentals in Oak Park?

The rental vacancy rate in Oak Park is 6 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

How many rental units are in Oak Park for each bedroom size?

Occupied Rental Units by Size in Oak Park
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
997 4,813 2,820 587 112
Occupied Rental Units by Size in Oak Park

A large number of apartments in Oak Park have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How many renter households in Oak Park are overburdened by housing costs?

Among renter households in this market, 40 percent have housing cost burden. Further, 20 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.

The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.

How Much Is Rent in Oak Park

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,399 to $2,583. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,399
One BR $1,507
Two BR $1,714
Three BR $2,182
Four BR $2,583
2024 Fair Market Rents in Oak Park, Illinois

How many units are rented at Fair Market Rent (FMR) in Oak Park?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

Unit Size Count of Units Below FMR Percentage of Total Units Below FMR
Studio 687 69 percent
One BR 3,456 72 percent
Two BR 845 30 percent
Rental Units Below FMR in Oak Park, Illinois

How many affordable rental units are in Oak Park?

There are a variety of federal affordable housing programs serving households in Oak Park, Illinois including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 51
Public Housing 198
Section 8 Project-Based Rental Assistance 272
Section 811 Supportive Housing for Persons with Disabilities 20
Tracked Units by Federal Program in Oak Park, Illinois

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Oak Park, Illinois

Oak Park features 496 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Oak Park, Illinois

There are 33 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Oak Park.

Housing Choice Vouchers in Oak Park, Illinois

On average, Section 8 Housing Choice vouchers pay Oak Park landlords $1,000 per month towards rent. The average voucher holder contributes $400 towards rent in Oak Park.

The maximum amount a voucher would pay on behalf of a low-income tenant in Oak Park, Illinois for a two-bedroom apartment is between $1,543 and $1,885.

Sourced from federal housing data and AffordableHousingOnline.com research.