When deciding between an apartment or house in Oak Park, IL, the monthly costs can make a big difference. Let’s say you’re considering a condo with a $350 HOA fee. Seems steep—until you realize that covers exterior maintenance, landscaping, and amenities that could easily cost $500+/month for a house. Suddenly, the apartment looks more affordable. Of course, it’s not always that simple. To truly compare the cost of living in an apartment vs house in Oak Park, we need to dig into the details.
Renting vs. Owning in Oak Park: What You’ll Pay
In general, renting an apartment in Oak Park tends to be more affordable than owning a house, at least in terms of monthly payments. Renting a 2BR apartment typically costs around $1,800/month, while a 3BR house may run closer to $2,450/month. Of course, these are just averages. You can find apartments for under $1,500 in certain areas, and there are certainly houses that cost far more than $2,500.
It’s also important to factor in that the average rent for a 3BR house in Oak Park is $2,450/month. That’s a hefty price tag, especially compared to Chicago averages. However, the cost of renting a house in Oak Park has actually decreased slightly over the last year, with more affordable options popping up in neighborhoods like Galewood and South Oak Park.
For a clearer picture, let’s break down the numbers side-by-side:
Table: Cost Comparison – Apartment vs House
Here’s a side-by-side breakdown of common monthly costs in Oak Park:
| Expense | 2BR Apartment | 3BR House |
|---|---|---|
| Rent/Mortgage | $1,800 | $2,450 |
| Utilities | $150 | $280 |
| Internet | $65 | $65 |
| Renter’s/Homeowner’s Insurance | $20 | $120 |
| Maintenance & Repairs | $0* | $415 |
| HOA Fees | $350 | $0 |
| Total | $2,385 | $3,330 |
*Included in rent. Estimates are for mid-range units with typical usage.
As you can see, the monthly cost of living in a house is nearly $1,000 more than renting an apartment, even with HOA fees. But the specifics matter. Let’s take a closer look at what drives those utility and upkeep costs.
Utility and Upkeep Differences
When it comes to apartments vs houses, utility costs can vary quite a bit. Some key differences:
- Water/sewer: Often included in apartment rent, but paid separately for houses
- Electricity: Lower in apartments due to smaller square footage
- Gas: May be slightly higher in houses for heating/stoves
- Trash: Usually included for apartments, but an extra $25-50/month for houses
- Lawn care: Not needed for apartments, but can cost $100+/month for houses
- Cooling: Central A/C is common in Oak Park houses, adding $50-150/month in summer
In Oak Park, many apartment complexes now include water, trash, and even internet in the monthly rent. So while the base rent may be higher, the “all-in” cost can be easier to budget for. Houses, on the other hand, come with more variable expenses that can add up quickly, like lawn care, gutter cleaning, and exterior maintenance.
Of course, utility costs also depend on your lifestyle and the age/condition of the apartment or house. Older houses may have higher heating bills, while newer apartments are likely to be more energy-efficient. It really comes down to the specific property.
Lifestyle Tradeoffs
Aside from hard costs, there are also lifestyle factors to consider with apartments and houses. Apartments offer perks like on-site gyms and minimal upkeep, but you’ll have less space and more noise from neighbors. Houses provide privacy, yard space for kids/pets, and room to spread out, but come with more maintenance and a longer commute if you work in the city.
Many Oak Park residents choose apartments for the walkability and easy access to downtown Oak Park and the CTA Green Line. It’s hard to put a price tag on being able to stroll to dinner or grab coffee on your way to the train. But for families who need more room to grow, the extra space of a house can be worth the added costs and upkeep.
There’s also the question of parking. Most houses come with a garage or driveway, while apartment parking can cost $100+/month. So if you rely on a car to get around, factor that into your budget as well.
Which Is Cheaper Long Term in Oak Park?
While renting an apartment is often cheaper month-to-month, owning a house tends to be more cost-effective in the long run. Let’s say you stay in an Oak Park apartment for 5 years at $2,385/month. That’s nearly $150K in rent paid over 5 years. Even with annual rent increases of 3-4%, you’d still come out ahead compared to the total cost of owning a $400K house (with a mortgage, taxes, insurance, and maintenance).
However, this assumes you can afford the upfront costs of buying a house, like the down payment and closing costs. And of course, owning a home comes with the risk of expensive repairs or a drop in property value. For many people, [Can You Afford to Live in Oak Park? Monthly Budget Guide](/oak-park-il/monthly-budget/) is a helpful resource to assess their finances.
If you do have the savings to buy a house, it could pay off in the long run. In cities like Oak Park, buying a home is often more economical over time, especially considering rising rents. But it’s a highly personal decision that depends on your financial situation, lifestyle needs, and future plans.
FAQs About Housing Costs in Oak Park
Still have questions about the cost of apartments and houses in Oak Park? Here are answers to some common ones:
- Q: How much more does a house cost per month compared to an apartment?
A: On average, a house in Oak Park costs about $945 more per month than an apartment when you factor in mortgage/rent, utilities, insurance, maintenance, and other fees. - Q: Do houses always have higher utility bills than apartments?
A: In general, yes. Houses are larger and often have more energy-intensive features like central A/C. But new, energy-efficient houses can sometimes have lower bills than older apartments. - Q: Are apartments still cheaper even with pet fees?
A: Usually, yes. While pet fees can add $25-50/month, that’s still far less than the added costs of owning a house. And some apartments charge pet rent on top of a deposit, so be sure to ask about the details.
For more info on housing-related costs in the area, check out [2025 Property Taxes and HOA Costs in Oak Park](/oak-park-il/property-tax-hoa/).
Making the Right Housing Choice in Oak Park
At the end of the day, choosing between an apartment or house in Oak Park is a personal decision that depends on your budget, lifestyle, and long-term goals. Apartments offer affordability and convenience, while houses provide more space and autonomy. But when it comes to monthly costs, apartments are generally cheaper—often by $900+ per month.
Of course, these are just averages and estimates. To get a true sense of the cost difference for your situation, it’s best to compare specific apartments and houses in your desired area and price range. Consider making a spreadsheet to track the various expenses and see how they stack up.
No matter which option you choose, living in Oak Park comes with perks like great schools, a thriving downtown, and easy access to Chicago. By understanding the true costs of apartments and houses, you can make a smart housing choice that fits your budget and enhances your lifestyle. The key is to look beyond the sticker price and factor in all the expenses—both obvious and hidden—to get the full financial picture.