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Featured local agent — Oak Park, MI
Sarah Mitchell
Compass Real Estate · Oak Park, MI
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Oak Park, MI Housing Market & Real Estate
Housing market overview · Updated monthly ·
$260,000median sale price
How is the Oak Park, MI housing market right now?
The median home sale price in Oak Park, MI is $260,000, up 5.1% year-over-year. Homes sell in an average of 17 days with 41 active listings. The market is currently a strong seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Oak Park a buyer's or seller's market?
Oak Park, MI is currently a strong seller's market, based on 1.1 months of supply and homes selling in about 17 days. How we determine this →
Homes sold
36
Last 12 weeks
Days on market
17
Fast-moving
Active listings
41
1.1 months supply
Sale-to-list
100.8%
Above asking
What does the Oak Park housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $260,000 |
| Median list price | $229,500 |
| Year-over-year price change | +5.1% |
| Average days on market | 17 days |
| Active inventory | 41 listings |
| Months of supply | 1.1 months |
| Sale-to-list price ratio | 100.8% |
| Median price per sq ft | $187/sq ft |
| Homes sold (latest month) | 36 |
| New listings (latest month) | 34 |
| Listings with a price cut | 21.9% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Oak Park by property type?
How the Oak Park, MI market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $260,000 | $196/sq ft | 34 | 17 days |
| Condo / Co-op | $264,900 | $134/sq ft | 1 | 18 days |
Source: Redfin · Updated monthly
The Oak Park housing market is currently classified as a strong seller's market with a median sale price of $260,000. Prices have risen 5.1% compared to last year, with homes spending an average of 17 days on market, indicating 1.1 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 3.6x provides context for how home values compare to local earning capacity.
Homes for sale in Oak Park
There are currently 41 homes listed for sale in Oak Park, Michigan. The median listing price is $230K.
Active listings
41
Homes on market
Median list price
$230K
Avg. days on market
17
Days until sale
New this week
34
Newly listed
Who lives in Oak Park?
Population
29,370
Median income
$65,882/yr
Median age
37.9 years
Owner-occupied
59.3%
College grads
39.5%
Avg commute
22.1 min
Source: U.S. Census Bureau ACS
What are homes worth in Oak Park?
Zillow home value
$239,563
Zillow rent index
$1,445/mo
Price-to-rent ratio
13.8x
Price-to-income
3.6x
Source: Zillow Research
What is it like to live in Oak Park?
Oak Park is a community of approximately 29K residents with a median age of 37.9 years.The median household income is $65,882, which represents a working-class community with solid middle-income opportunities. 39.5% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 59.3%, showing a blend of owner and renter-occupied properties. The average commute time is 22.1 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Oak Park offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Oak Park?
11 schools tracked · 4,392 students
The largest public schools serving Oak Park, MI by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Oak Park High School
Grades 9-12 · 873 students
Norup International School
Grades K-8 · 688 students
Oak Park Preparatory Academy
Grades 6-8 · 679 students
Ferndale Upper Elementary Campus
Grades K-6 · 533 students
Key Elementary School
Grades PK-5 · 507 students
Pepper Elementary School
Grades PK-5 · 401 students
Einstein Elementary School
Grades PK-5 · 393 students
Oak Park Service Learning Academy OPSLA
Grades PK-8 · 176 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Oak Park, MI?
Want a head-to-head view? Compare Oak Park side-by-side with any other U.S. city using our market-comparison tool.
Is Oak Park a good real estate investment market?
For investors evaluating Oak Park, the price-to-rent ratio of 13.8x suggests potential rental yield opportunity, making the market attractive for income-focused investors. The market has appreciated 5.1% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Oak Park's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Oak Park's median home price.
Frequently asked questions
What is the average home price in Oak Park?
The median home sale price in Oak Park is $260,000, up 5.1% from last year.
How long do homes stay on market in Oak Park?
Homes typically spend 17 days on market before going under contract.
What is the median income in Oak Park?
The median household income is $65,882 per year.
Is Oak Park a buyer's or seller's market?
With 1.1 months of supply, Oak Park is currently a strong seller's market.
What is the Zillow home value estimate for Oak Park?
The Zillow Home Value Index (ZHVI) for Oak Park is $239,563, representing the typical home value in the area.
What is the median condo price in Oak Park?
The median condo/co-op sale price in Oak Park, MI is $264,900, compared to $260,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Oak Park?
The median single-family home price in Oak Park, MI is $260,000 (about $196 per square foot).
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