Oak Park, IL Airbnb Market Data, Statistics, and Occupancy Rates

Oak Park Short-Term Rental Market Overview

Oak Park, IL offers a competitive short-term rental landscape with 108 active Airbnb listings and an average annual revenue of $31,870 per property. Situated just outside Chicago, this walkable suburban village draws visitors with its historic Frank Lloyd Wright architecture, cultural attractions, and proximity to the city — though elevated home values averaging $717,955 mean investors need to be strategic about deal sourcing. With above-average occupancy stability and a clear seasonal revenue pattern, the market rewards operators who price smartly and target the right property configurations.

Key Market Statistics

According to Rabbu market data, the Oak Park short-term rental market shows:

Data sources: Rabbu proprietary analytics as of Apr, 27 2026 and Zillow Home Value Index (ZHVI) as of Mar, 17 2026.

Why Investors Consider Oak Park

Investors are drawn to Oak Park for its proximity to downtown Chicago, cultural tourism appeal, and above-average occupancy stability that supports consistent bookings.

Expert Market Assessment

"Oak Park presents a competitive opportunity where strong demand fundamentals meet relatively high acquisition costs. The market's revenue-to-price ratio sits at average levels, meaning cash flow depends heavily on choosing the right property size and optimizing operations. Seasonality is pronounced — revenue peaks in June at $4,106 per month and dips to roughly $1,068 in February — so investors should plan for significant off-season softness. Properties with three or more bedrooms tend to deliver the strongest returns, and the above-average occupancy stability is a reassuring signal for those willing to navigate the competitive landscape."

— Rabbu Market Analysis Team

Key Airbnb Metrics & Trends in Oak Park

Average revenue by month in Oak Park

Revenue in Oak Park follows a sharp seasonal curve, peaking in June at $4,106 and bottoming out in February at just $1,068 — a nearly 4x spread that investors must account for in their cash-flow planning. The warm months from May through October consistently deliver $3,200+ in monthly revenue, while November through February requires careful expense management.

Active Airbnb listings by property size in Oak Park

One-bedroom listings dominate Oak Park's supply at 43 units (roughly 40% of the market), with 2- and 3-bedroom properties representing 29 and 23 listings respectively. With only 7 four-bedroom listings currently active, larger properties remain underrepresented — a potential gap for investors seeking less crowded segments.

Average daily rate (ADR) by property size in Oak Park

ADR scales steeply with property size in Oak Park, from $104 for 1-bedrooms up to $392 for 4-bedroom homes — nearly a 4x premium. The jump from 2-bedrooms ($146) to 3-bedrooms ($207) represents the sharpest percentage increase relative to the incremental cost of an additional bedroom, suggesting a favorable rate-to-size trade-off in that range.

Average RevPAN by property size in Oak Park

Three-bedroom properties deliver the highest RevPAN at $69 per available night, edging out 4-bedrooms ($66) despite their much lower ADR — a result of significantly stronger occupancy. One-bedroom units trail at $32 RevPAN, indicating that the high supply of smaller listings dilutes per-night earning potential.

Average occupancy rates by property size in Oak Park

Occupancy is relatively consistent at 31–33% for 1- through 3-bedroom listings, but drops sharply to just 17% for 4-bedroom properties. This suggests that while larger homes command premium nightly rates, their demand pool is thinner, and investors should weigh the higher revenue potential against longer vacancy stretches.

Average monthly revenue by property size in Oak Park

Four-bedroom properties lead monthly revenue at $4,966, nearly triple the $1,826 earned by 1-bedroom units, though their low occupancy means this figure hinges on fewer, higher-value bookings. Three-bedroom listings offer a more balanced profile at $3,098 per month, combining solid ADR with consistent occupancy.

Average annual revenue by property size in Oak Park

Annual revenue ranges from $21,921 for 1-bedroom units to $59,598 for 4-bedroom homes, with 3-bedrooms generating $37,187. Given Oak Park's average home value of $717,955, investors targeting 3-bedroom properties may find the strongest return potential when factoring in both revenue output and acquisition cost relative to the limited 4-bedroom supply.

Most common amenities for Airbnb listings in Oak Park

Kitchens (96%), parking (93%), and self check-in (85%) are near-universal among Oak Park listings, reflecting guest expectations for a home-like, independent stay experience. The high prevalence of dedicated workspaces (77%) signals meaningful demand from remote workers and business travelers — a differentiator investors should prioritize when outfitting properties.

Understanding Oak Park's ROI Score: 53/100

Rabbu's ROI Score is a proprietary metric that evaluates short-term rental investment potential based on multiple factors.

How the ROI Score is Calculated

What This Means for Investors

Oak Park's ROI Score of 53 out of 100 places it in the 'Competitive Opportunity' band, reflecting a market where demand fundamentals are sound but acquisition costs and growing competition require careful deal selection. Above-average occupancy stability is the standout positive factor, while the supply/demand balance rates below average due to rapid listing growth (108% year-over-year). Investors should pair these data points with thorough local regulatory research and conservative underwriting to identify properties that can outperform the market average.

Short-Term Rental Regulations in Oak Park

Understanding local STR regulations is essential before investing in Oak Park. Here's the current regulatory landscape:

Permit Requirements

Short-term rental operators in Oak Park, Illinois may need to obtain a local permit or register their property with the village before listing. Investors should verify current licensing requirements directly with Oak Park's municipal offices and review any applicable Cook County or Illinois state regulations.

Key Restrictions

Common STR restrictions in suburban Illinois markets can include occupancy limits, minimum-stay requirements, noise ordinances, and parking provisions. Additionally, HOA rules may impose their own restrictions on short-term rentals, so investors considering condos or properties in planned communities should review governing documents carefully before purchasing.

Tax Obligations

Short-term rental hosts in Illinois are typically subject to state and local occupancy taxes, as well as state sales tax on lodging. Platforms like Airbnb often collect and remit some of these taxes on behalf of hosts, but operators should confirm their specific obligations with a tax professional familiar with Cook County and Illinois requirements.

Regulations subject to change. Always verify with local authorities before purchasing. A Rabbu partner agent specializing in Oak Park can provide current regulatory guidance.

Future Outlook & Long-Term Forecast

"Over the next 12–18 months, Oak Park's STR market is expected to maintain steady demand, particularly during the May-through-October peak window when monthly revenues can exceed $3,000. Occupancy rates are likely to hold in the 30–35% range market-wide, with modest ADR growth of 2–4% as hosts continue refining their pricing strategies. The 108% year-over-year growth in active listings signals rising investor interest, which may compress margins slightly — making property selection and guest experience differentiation more important than ever."

— Rabbu Market Analysis Team

Frequently asked questions about Airbnb in Oak Park, IL

What is the average Airbnb occupancy rate in Oak Park?

The average Airbnb occupancy rate in Oak Park is currently 33%, which is in line with the Illinois state average. Occupancy varies by property size, with 2- and 3-bedroom units averaging 33% while 4-bedroom properties come in lower at 17%. Smaller 1-bedroom listings average 31%. These figures reflect trailing 12-month performance across active comparable listings in the market.

How much do Airbnb hosts make in Oak Park?

On average, Airbnb hosts in Oak Park earn approximately $2,655 per month, which translates to about $31,870 annually based on the trailing 12-month historical average. Earnings vary significantly by property size — 1-bedroom listings average around $21,921 per year, while 4-bedroom properties can generate roughly $59,598 annually. Actual results depend on factors like property quality, pricing strategy, amenities offered, and how effectively hosts manage seasonal demand fluctuations.

Is Oak Park a good market for Airbnb investment?

Oak Park carries a Rabbu ROI Score of 53 out of 100, placing it in the 'Competitive Opportunity' category. The market benefits from above-average occupancy stability and its desirable location near Chicago, but higher home values (averaging $717,955) and growing competition from new listings mean investors need to be selective about acquisitions. Properties in the 3-bedroom range tend to offer the best balance of revenue and occupancy, and success often hinges on operational quality and smart pricing through the seasonal cycle.

What is the average daily rate (ADR) for Airbnb in Oak Park?

The average daily rate for Airbnb listings in Oak Park is $168, which is well below the Illinois state average of $319. ADR scales significantly with property size: 1-bedroom units average $104 per night, 2-bedrooms average $146, 3-bedrooms come in at $207, and 4-bedroom properties command $392 per night. The lower overall ADR reflects Oak Park's suburban positioning relative to premium urban and resort markets across the state.

Are short-term rentals legal in Oak Park?

Short-term rentals are permitted in Oak Park, IL, though operators may need to obtain local permits or register with the village. As regulations can change, investors should verify current requirements directly with Oak Park's municipal government and review any applicable HOA rules if purchasing in a managed community. Consulting with a local real estate attorney familiar with Cook County STR regulations is also recommended before making an investment.

When is peak season for Airbnb in Oak Park?

Peak season for Airbnb in Oak Park runs from May through October, with June being the highest-earning month at an average of $4,106 in revenue. July and August follow closely at $3,754 and $3,658 respectively. The off-season spans November through February, with February being the slowest month at just $1,068 in average revenue — roughly 74% below the June peak. Investors should budget for this significant seasonal swing when projecting annual cash flow.

How many Airbnbs are there in Oak Park?

As of April 2026, there are 108 active Airbnb listings in Oak Park. The supply is dominated by smaller properties, with 43 one-bedroom listings making up the largest segment, followed by 29 two-bedroom and 23 three-bedroom units. Only 7 four-bedroom properties are currently active, suggesting potential opportunity for investors considering larger homes. Notably, active listing counts have grown 108% year-over-year, indicating rapidly increasing investor interest in the market.

How is Airbnb revenue calculated in Oak Park?

The annual and monthly revenue figures shown for Oak Park are derived from the trailing 12 months of historical booking performance for active comparable Airbnb listings in the market — they are not forward-looking projections. Rabbu averages each comparable listing's actual revenue per available night (RevPAN) by month over the past year, removes regional outliers, and rolls the results up to a market-level historical average. This approach anchors the figures to what hosts have actually earned recently while naturally reflecting seasonal peaks and slower months, since each month uses its own historical performance data. Individual results can vary based on property quality, pricing strategy, and operational management.

About Rabbu Market Data

Rabbu provides Airbnb and short-term rental market data and statistics across the United States. Our mission is to empower investors with accurate insights and easy-to-use tools, so they can confidently identify and act on the best opportunities in the Airbnb market.

What this data includes

• Regularly updated active Airbnb and STR listing counts by market
• Average daily rates, occupancy rates, and RevPAN metrics across property sizes
• Monthly and annual revenue trends based on trailing 12-month booking data
• Home value benchmarks sourced from Zillow Home Value Index (ZHVI)
• Amenity prevalence data across active listings to inform property setup decisions

Sources and disclaimers

Rabbu proprietary analytics as of Apr, 27 2026 and Zillow Home Value Index (ZHVI) as of Mar, 17 2026. Revenue projections are estimates based on comparable properties and do not guarantee future performance. Data reflects trailing 12-month averages and market conditions as of the date shown; actual results may vary based on property quality, pricing, and management. Local regulations, permit requirements, and tax obligations are subject to change — investors should verify current rules with municipal authorities before purchasing.