University Park: Housing & Real Estate
$153,200 is the median home value in University Park (estimated market value runs 8% higher at $165,215), with median rent $1,649 (1.1× higher than Will County median $1,462; 1.3× higher than Illinois median $1,274). Homeownership rate: 63.7%. That's 2.1× below the Will County median ($319,600); 1.7× below the Illinois median ($263,300). Market is warm. Vacancy rate 9.6%. A municipal building code is in effect.
- 2.1× annual income — home value vs. household income (vs Illinois 4.0×).
- 7.7 years to break even renting at the median (vs Illinois 18y).
- 4-BR rent is 1.8× a studio — rent gradient by unit size.
- Median rent 7% below HUD 2-BR FMR — local market vs federal subsidy benchmark.
Home Values & Rent
Median home value $153,200 — 0.5× the Illinois median ($314,700). Median rent $1,649/month. homeownership rate 63.7% — near the U.S. share of ~65%.
| Affordability · Home Price To Income | 2.1× |
|---|---|
| Affordability · Home Affordability | affordable |
| Affordability · Rent Pct Income | 24.9% |
| Affordability · Rent Affordability | affordable |
| Affordability · Pct Severely Rent Burdened | 53.3% |
| Affordability · Poverty Rate | 14.4% |
| Affordability · Property Tax Pct Income | 6.6% |
| Fair Market Rent · Studio rent | $1,480 (at Illinois median) |
| Fair Market Rent · One-bedroom rent | $1,581 (at Illinois median) |
| Fair Market Rent · Two-bedroom rent | $1,781 (at Illinois median) |
| Fair Market Rent · Three-bedroom rent | $2,294 (at Illinois median) |
| Fair Market Rent · Four-bedroom rent | $2,653 (at Illinois median) |
| Fair Market Rent · HUD FMR area | Chicago-Joliet-Naperville, IL HUD Metro FMR Area |
| Fair Market Rent · Fiscal year | FY2026 |
| Home Value Estimate | $165,215 |
| Median Home Value | $153,200 (vs Illinois $314,700) |
| Median Rent | $1,649 (vs Illinois $1,440) |
Sources: HUD FMR FY2026 · Census ACS 5-Year 2023, B25077 · Census ACS 5-Year 2023 · Refreshed 2026-04-12
Tenure & Occupancy
Owner-occupied vs renter-occupied housing units, plus vacancy rates.
| Housing Market · Market temperature | warm |
|---|---|
| Housing Market · Vacancy rate | 9.6% |
| Housing Market · Price Appreciation 2Yr | 11.2% |
Utilities
Electricity, water, and broadband infrastructure serving residents. Broadband percentages reflect the share of premises that can subscribe to service at the listed speed (FCC Form 477).
Systems (5)
| Broadband · % of premises with 25/3 Mbps broadband | 100.0% (at Illinois median) |
|---|---|
| Broadband · % of premises with 100/20 Mbps broadband | 100.0% (at Illinois median) |
| Broadband · % of premises with 250/25 Mbps broadband | 100.0% (at Illinois median) |
| Broadband · % of premises with 1 Gbps / 100 Mbps broadband | 72.1% (vs Illinois 76.8%) |
| Broadband · Broadband-capable premises | 2,894 |
| Electricity · Electricity rate (¢/kWh) | 15.87¢/kWh |
| Electricity · Customers | 5392477 |
| Electricity · Revenue Millions | $7,118 |
| Electricity · Year | 2024 |
| Mobile Broadband · 3G mobile coverage | 0.000000000 |
| Mobile Broadband · 4G mobile coverage | 1.000000000 (at Illinois median) |
| Mobile Broadband · 5G mobile coverage | 1.000000000 (at Illinois median) |
| Mobile Home Parks Detail · County total | 1 |
Sources: FCC BDC Jun 2025 · EIA Annual Retail Sales 2023 · FCC BDC Mobile 2024 · HIFLD / IRS BMF · Refreshed 2026-04-12
Other
| Homeownership Rate | 63.7% (vs Illinois 66.4%) |
|---|---|
| Median Year Built | 1976 |
Sources: Census ACS 5-Year 2023 · Refreshed 2026-04-12