Oakwood Hills Illinois Area Home Supply Charts

This page looks at a variety of Oakwood Hills Illinois housing market data taken from the most recent 2020 American Community Survey census data. Housing units are structures such as a single family home, apartment community, mobile home park, public housing, etc. where a person or family live and live separately from other residents of the building. Figure 1 shows the total number of housing units for each city. Oakwood Hills depicts it has a Housing Units of 833 which is the third most housing units of all other places in the greater Oakwood Hills region.

Figure 2 illustrates the housing density in the Oakwood Hills housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) Oakwood Hills shows it has a Housing Density of 707.0 which is the third most housing densities of all other places in the greater Oakwood Hills region. The city with the highest housing density in the area is Cary which depicts a density of 1051.4 (48.7% larger). Comparing housing density to the United States average of 38.9, Oakwood Hills is substantially bigger. Also, in comparison with the state of Illinois, housing density of 96.4, Oakwood Hills is substantially bigger.

In Figure 4, Oakwood Hills area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. Oakwood Hills depicts it has a Housing Unit Change of 3.9% which is in the mid range of other places in the greater region. The city with the highest change in the housing units in the area is Holiday Hills which shows a housing units of 17.6% (approximately 4.6 times bigger). Comparing change in the housing units to the United States average of 5.7%, Oakwood Hills is approximately three-fourths the size. Also, benchmarked against the state of Illinois, change in the housing units of 1.2%, Oakwood Hills is approximately 3.2 times bigger.

Figure 5 shows the percentage of rental property based on that they are occupied by renters as a percent of the total number of households in the community (including homes, apartments, etc.) Oakwood Hills shows it has a Renter Percent of 13.1% which is the third most renter percent of all other places in the greater Oakwood Hills region. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 86.9% which is less than most other places in the local area.

Oakwood Hills Illinois Home Cost Charts

Looking at the housing data provided in Figure 7, the average Oakwood Hills home price is illustrated for this community and a useful analysis of affordable housing. Oakwood Hills depicts it has a Median Home Value of $221,100 which is less than most other places in the metropolitan area. The city with the highest median home price in the area is Trout Valley which shows a home price of $381,100 (72.4% larger). Figure 8 provides aggregate comparative data for the Oakwood Hills Illinois metro area in terms of the median housing rental rate, apartment rent, etc. Oakwood Hills depicts it has a Median Gross Rent of $1,255 which is the second smallest when ranked by rental rates of all the other places in the greater region. The city with the highest rental rates in the area is Trout Valley which depicts a rental rates of $2,333 (about twice as large). Comparing rental rates to the United States average of $1,062, Oakwood Hills is 18.2% larger. Also, compared to the state of Illinois, rental rates of $1,010, Oakwood Hills is 24.3% larger.

Figure 9 provides the frequency distribution of home prices for the area and is useful for understanding affordable housing fund. Oakwood Hills has one of the largest proportions of home price worth between $100,000 to $200,000 at 37% of the total and is ranked #3. Only #2 Port Barrington (39%), and #1 Cary (43%) are larger. Second, it has less than most other places in the surrounding region in terms of home price worth between $200,000 to $300,000 at 8% of the total.

Median owner costs for the real estate market are shown in Figure 10 and include the costs associated with any mortgage, utility expenses, insurance, and other miscellaneous costs. Oakwood Hills depicts it has a Median Owner Cost of $1,568 which is less than most other places in the local area. Figure 11 shows the median amount of cost as a percent of total household income for people who own homes in the Oakwood Hills metro area. it has a Owner Cost as % of HH Income of 19% which is the second smallest when sorted by cost as a percent of household income of all the other places in the greater region. The next chart, Figure 12, provides a comparison chart of the median home cost as a percent of a median worker take home earnings and is thus a valuable measure of affordable housing. Oakwood Hills shows it has a Median Home Value as Percent of Median Earnings of 372% which is in the mid point range of other places in the local area.

Figure 14 depicts the median cost of housing for owners with also have a mortgages (versus those who do not have a mortgage because mortgage cost is included.) Oakwood Hills depicts it has a Median Owner Costs-With Mortgage of $1,697 which is less than most other places in the local area. Figure 15 is a chart that shows the median housing costs for owners who do not have mortgages (and therefore the cost of home ownership does not include mortgage cost.) it has a Median Owner Costs-Without Mortgage of $803 which is less than most other places in the metropolitan area.

Figure 16 shows the distribution in total housing cost for owners of property (so not renters.) This cost includes mortgages, lines of credit interest, utilities, taxes, insurance, etc. Oakwood Hills has one of the largest proportions of owner cost less than $300 at 1% of the total and is ranked #3. Only #2 Island Lake (7%), and #1 Holiday Hills (10%) are larger. Second, it has the largest proportion of owner cost between $1,000 and $1,500 at 26% of the total and is ranked #1. Third, it has less than most other places in the greater region when sorted by owner cost between $3,000 and $3,500 at 1% of the total. Also, it has in the center range of other places in the surrounding region in terms of owner cost between $3,500 and $4,000 at 2% of the total.

Next shown in Figure 17 is the housing cost as a percent of household income for people who own their homes and have a mortgages (thus the cost of financing the home is included.) Oakwood Hills depicts it has a % of Income Owner Costs-With Mortgage of 21% which is less than most other places in the local area. The city with the highest cost as a percent of household income in the area is Prairie Grove which depicts a cost as a percent of household income of 25% (17.1% larger). Housing cost as a percent of household income for owners who do not have a mortgage is shown in Figure 18. This analysis can be useful for understanding the affordable housing for home ownership excluding any financing cost in the area shown. Oakwood Hills shows it has a % of Income Owner Costs-No Mortgage of 9% which is the second smallest when ranked by cost as a percent of household income of all the other places in the local area. The city with the highest cost as a percent of household income in the area is Prairie Grove which depicts a cost as a percent of household income of 16% (72.2% larger).

Figure 19 looks at the cost of rent for rental property using the percent of total household income which is a valuable measure of financial health for the area. (The higher the proportion of rent payments to total household income is a sign of greater financial stress. Also, rent can be covered by rent assistance and rent assistance programs in the form of rent assistance.) Oakwood Hills has one of the largest proportions of rent as a percent of income is less than 10 pct at 25% of the total and is ranked #3. Only #2 Cary (29%), and #1 Prairie Grove (33%) are larger. Second, it has less than most other places in the local area as measured by rent as a percent of income is between 10pct to 20pct at 24% of the total. Third, it has the second smallest in terms of rent as a percent of income is less than 10 pct of all the other places in the surrounding region in terms of rent as a percent of income is between 20pct to 30pct at 4% of the total. Also, it has the largest proportion of rent as a percent of income is between 30pct to 40pct at 13% of the total and is ranked #1. In addition, it has one of the largest proportions of rent as a percent of income is between 40pct to 50pct at 22% of the total and is ranked #2. The only larger city being Holiday Hills with 29%.

Figure 20 shows the total housing cost for both home owners and apartment community renters in the area. Oakwood Hills has the largest proportion of housing cost between $1,000 and $1,500 at 26% of the total and is ranked #1.

Figure 21 shows median amount of real estate taxes paid for home owners in the region. it has a Median Real Estate Taxes Paid of $6,446 which is less than most other places in the metro area. The city with the highest median real estate taxes paid in the area is Prairie Grove which depicts a taxes paid of $10,001 (55.2% larger). Comparing median real estate taxes paid to the United States average of $2,471, Oakwood Hills is approximately 2.6 times bigger. Also, benchmarked against the state of Illinois, median real estate taxes paid of $4,419, Oakwood Hills is 45.9% larger.

Figure 23 shows the rental rate distribution for this area. Oakwood Hills Illinois has the largest proportion of rent between 300 and 500 dollars at 13% of the total and is ranked #1. Second, it has in the center range of other places in the metro area when sorted by rent between 500 and 750 dollars at 2% of the total. Third, it has the largest proportion of rent between 750 and 1000 dollars at 53% of the total and is ranked #1. Also, it has the smallest proportion of rent between 1000 and 1500 dollars at 20% of the total.

Oakwood Hills Illinois Home Financing Charts

The analysis in Figure 25 shows the detailed distribution of owned homes by mortgage status. Oakwood Hills has the largest proportion of with heloc at 1% of the total and is ranked #1. Second, it has the largest proportion of both 2nd mortgage and heloc at 66% of the total and is ranked #1. Third, it has the second smallest in order of with mortgage of all the other places in the greater region as measured by no 2nd mortgage and no heloc at 20% of the total.

Figure 26 shows the proportion of houses with a mortgage versus those without a mortgage. Oakwood Hills has the percentage of houses with mortgages the second smallest in order of houses with a mortgage of all the other places in the local area at 20% of the total.

Oakwood Hills Illinois Home Characteristics Charts

Figure 28 shows the household size for families living in the area and it has a Family size of 3.2 which is in the mid range of other places in the local area. The city with the highest family members per housing unit in the area is Port Barrington which shows a family members per housing unit of 3.4 (only about 5.2% larger). Comparing family members per housing unit to the United States average of 3.3, Oakwood Hills is only about 3.5% smaller. Also, in contrast to the state of Illinois, family members per housing unit of 3.3, Oakwood Hills is only about 3.3% smaller.

Figure 29 show the median number of rooms in a typical home for each location in this area. it has a Median Number of Rooms of 6.7 which is less than most other places in the local area. The city with the highest average number of rooms in a house in the area is Prairie Grove which depicts an average number of rooms in a house of 8.5 (26.9% larger). Figure 30 shows, for the average house in each location, the median year that a house was built. This can be useful for understanding the relative age of one neighborhood versus another for a real estate investor. it has a Median Year Built of 1979 which is less than most other places in the local area. The city with the highest year built in the area is Port Barrington which shows a year built of 2001 ( only slightly larger).

Figure 31 looks at the distribution of housing units by the median age that the homes were built. has the percentage of homes built between 2010 to 2013 in the mid point range of other places in the local area at 12% of the total. Second, it has one of the largest proportions of homes built between 1980 to 1989 at 24% of the total and is ranked #2. The only larger city being Holiday Hills with 35%. Third, it has in the mid range of other places in the local area when ranked by homes built between 1970 to 1979 at 6% of the total. Also, it has one of the largest proportions of homes built between 1960 to 1969 at 22% of the total and is ranked #2. The only larger city being Holiday Hills with 36%.

Figure 32 shows the difference in the number of housing units based on whether they are occupied by owners versus occupied by renters. it has one of the largest proportions of owner housing units at 108 of the total and is ranked #3. Only #2 Island Lake (586), and #1 Cary (840) are larger.

Figure 34 shows the median value of homes broken down by the median year that the homes were built. it has one of the largest proportions of value of homes built 2010 to 2013 at $372,600 of the total and is ranked #2. The only larger city being Prairie Grove with $394,800. Second, it has in the mid range of other places in the metro area when ranked by value of homes built 2000 to 2009 at $279,100 of the total. Third, it has less than most other places in the local area in terms of value of homes built 1990 to 1999 at $204,100 of the total. Also, it has in the middle range of other places in the local area as measured by value of homes built 1980 to 1989 at $200,000 of the total. In addition, it has less than most other places in the metro area when ranked by value of homes built 1970 to 1979 at $173,200 of the total. Furthermore, it has one of the largest proportions of value of homes built 1960 to 1969 at $168,900 of the total and is ranked #3. Only #2 Prairie Grove ($258,300), and #1 Trout Valley ($325,000) are larger.

The next two charts show both the average household size of homeowners versus the average household size of renters. Starting with Figure 36 we see the household size of homeowners for Oakwood Hills residents. it has a Owner-Household Size of 2.9 which is the largest of all places in the metropolitan area.

Figure 37 shows the household size for renters. Oakwood Hills shows it has a Renter-Household Size of 2.3 which is the second smallest when sorted by renter household size of all the other places in the local area. The city with the highest renter household size in the area is Trout Valley which depicts a renter household sizes of 3.8 (65.1% larger). Figure 38 shows the year that people who own homes moved into this region. it has the largest proportion of owners moved in 2017 or later at 10% of the total and is ranked #1. Second, it has the smallest proportion of owners moved in 2015 to 2016 at 14% of the total. Figure 39 shows the year that people who rent moved into the area. Oakwood Hills has the percentage of renters moved in 2017 or later the second smallest in terms of renters moved in 2017 or later of all the other places in the greater region at 14% of the total. Second, it has the largest proportion of renters moved in 2015 to 2016 at 65% of the total and is ranked #1. Third, it has the largest proportion of renters moved in 2000 to 2009 at 5% of the total and is ranked #1.

Figure 40 compares the median year that home owners moved into their home. it has a Owner Median Year Moved In of 2003 which is in the intermediate range of other places in the local area. Figure 41 compares the median year that renters moved into their home. Oakwood Hills depicts it has a Renter Median Year Moved In of 2013 which is the second smallest in order of median year that a renter moved in of all the other places in the greater region.

Figure 42 shows the frequency distribution of various types of energy sources used for homes in the community. has the smallest proportion of home using bottled, tank, or lp gas at 3% of the total.