Orland Park Ranks No. 1 in the Nation for Owner-Occupied Homes
The Village of Orland Park takes top ranking for home ownership according to a recent report from USA TODAY online which cited a study completed by 24/7 Wall St., a financial website.
24/7 Wall St. reviewed data from the U.S. Census Bureau’s American Community Survey on the percentage of owner-occupied housing units to determine the cities where most occupied homes are owned by an occupant.
“The American dream of home ownership is alive and well in Orland Park,” said Mayor Keith Pekau. “Homeowners tend to be more active and involved in their communities and typically invest and re-invest in Orland Park through their homes.”
Orland Park has the highest rate of owner-occupied homes in the nation, according to survey data from the Census Bureau’s American Community Survey from 2017.
“Residents tend to buy and build their homes here and stay. This leads to stability and, in my opinion, is one of the reasons why Orland Park is consistently ranked first or second for lowest violent crime rates in towns greater than 50,000 residents,” said Pekau of the residents of Orland Park. “Many families have many generations that call Orland Park home. This speaks volumes about the village, our amenities and the overall livability of Orland Park.”
According to the report, the homeownership rate nationwide has declined consistently since peaking at 69.1% in 2005 and is now 64.2%. But, not in Orland Park where the homeownership rate of 89.2% is the highest in the nation, according to a new analysis of Census Bureau data.
In July, 2018, population estimates for Orland Park were 58,312 and the median value of owner-occupied housing units was $277,300. While the median income throughout Illinois was $61,229, median household incomes were $85,802 in Orland Park.
Proximity to a large metropolitan area likely contributed to high homeownership rates in towns on the list, according to the report which points to the benefits of minimal commuting distance to major cities, such as Chicago, as well as the availability of high-paying employment opportunities.
“In addition to a wide variety of housing options for current and prospective homeowners, Orland Park has great school districts, vast recreational opportunities with 64 parks, over 32 miles of biking and walking trails, is the retail and dining powerhouse of the southwest suburbs with dedicated village-owned areas for open lands and over 15,000 acres of forest preserve in and around the village,” Pekau added.
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