9

Studio Apartment for Rent in Oakbrook Terrace, IL

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    Starting at $1,574 Per Month

    • Studio - 3 Beds

    17W720 Butterfield Rd, Oakbrook Terrace, IL 60181

    Live in an apartment home you deserve! Count on our proven record of superior service, local/long-term management and a committed customer-focused staff meeting the needs of thousands of highly satisfied residents. The spacious cut of the floor plans gives you larger living areas. Combine all this with an extremely convenient location and the finest that Oakbrook has to offer. Versailles on the

    Versailles on the Lakes Oakbrook*

    17W720 Butterfield Rd, Oakbrook Terrace, IL 60181

Why Live in Oakbrook Terrace

Oakbrook Terrace, Illinois, is a small city with a rich history that began as a farming village called Utopia in the 1950s. The community is known for its strong sense of togetherness, where neighbors support each other and celebrate milestones. The city is marked by the Oakbrook Terrace Tower, a 31-story office complex, and seven hotels that cater to high-profile companies. Oakbrook Terrace is located 20 miles from downtown Chicago and offers a mix of residential and commercial spaces. For families, the city boasts highly rated schools such as Stella May Swartz Elementary School, John E Albright Middle School, and Willowbrook High School, which is known for its robust theater program. The Oakbrook Terrace Park District maintains several green spaces and indoor hubs, including Heritage Park and Terrace View Park, which feature playgrounds, picnic areas, and a fitness center. The William Cizek Walk/Bike Way connects these parks, providing opportunities for leisurely exploration. Residents enjoy a variety of community events, such as the Annual Easter Event, Summer Concert Series, and Community Campfires. Dining options are plentiful, with 40 restaurants along Roosevelt Road, including local favorites like Frankie's Deli and Stan's Donuts and Coffee. Housing in Oakbrook Terrace includes brick ranch-style homes, Cape Cods, New Traditional, and Craftsman-style options, along with townhouses and mid-rise condos. The city is safer than the national average, making it a desirable place to live. Commuting is convenient with nearby train stations and major highways, and Chicago O'Hare International Airport is just 15 miles away.

Frequently Asked Questions

How much does it cost to rent a home in Oakbrook Terrace, IL?
The median rent for a home in Oakbrook Terrace, IL is $4,300 per month, though prices vary by neighborhood, size, and property type. As of June 2026, condos tend to be the most affordable option while single-family homes are currently more expensive.
How much do you need to make to afford rent in Oakbrook Terrace, IL?
To comfortably afford the median rent in Oakbrook Terrace, IL, a household needs to earn roughly $172,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $4,300 per month in Oakbrook Terrace, IL, renters typically need to show $12,900 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Oakbrook Terrace, IL?
In Oakbrook Terrace, IL, the price-to-rent ratio is 6.6, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Oakbrook Terrace, IL are best for renting a home?
The best neighborhood for renting in Oakbrook Terrace, IL depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Lakeview East, River North, Edgewater and South Lombard, each with its own character and price range.

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$4,300
Median Single Family Home Rent
$4,300
Median Condo Rent
$3,300
How to Rent a Home