Lake Killarney, Oakwood Hills, IL
Lake Killarney — Real Estate & Neighborhood Guide
Top10Lists.us brings available neighborhood data and real estate research together for Lake Killarney, Oakwood Hills, Illinois. Explore the cited sources and local facts below while agent underwriting continues.
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Lake Killarney Neighborhood Overview
Lake Killarney is a residential neighborhood within the village of Oakwood Hills, Illinois, offering a serene, nature-oriented lifestyle. Centered around its namesake lake, the community provides a quiet retreat with convenient access to broader Champaign County amenities. Its location in ZIP code 61858 places it within a region known for a mix of rural charm and suburban convenience.
Lifestyle & Amenities
The neighborhood's defining feature is Lake Killarney itself, which serves as a focal point for recreation and scenic views. Residents enjoy a peaceful atmosphere with opportunities for fishing, kayaking, and enjoying the natural surroundings right at their doorstep. While primarily residential, nearby Oakwood and larger towns provide necessary shopping, dining, and services.
Real Estate Market
The real estate in Lake Killarney consists primarily of single-family homes, many with desirable lake access or views. According to recent data, the median home value in the area is $126,800, with a current price per square foot around $175.91. This market offers more affordable entry points compared to many suburban areas, appealing to those seeking value and natural beauty.
Schools & Education
Families in Lake Killarney are served by the Oakwood Community Unit School District 76. The district is known for its small class sizes and community-focused educational environment. Students typically attend Oakwood Elementary School and Oakwood High School, which are centrally located within the broader village area.
Transportation & Connectivity
Lake Killarney is accessible via local roads that connect to major routes like Interstate 74, providing a direct link to Champaign-Urbana to the west and Danville to the east. The neighborhood's setting offers a balance of seclusion and connectivity, with most residents relying on personal vehicles for commuting and errands. Public transportation options are limited, emphasizing the area's quiet, residential character.
Why Choose Lake Killarney
Lake Killarney is ideal for homebuyers and renters seeking an affordable, tranquil lifestyle centered around a natural lake. It offers a strong sense of community and outdoor recreation without the premium price tag of larger suburban lake communities. With a median household income of $64,375, it represents an accessible option for achieving a classic Midwestern home-owning dream near water.
Sources
- U.S. Census Bureau, American Community Survey 5-Year Estimates (2022) — data.census.gov
- Redfin Neighborhood Market Tracker — redfin.com/news/data-center
Lake Killarney Market Data
| Metric | Value |
|---|---|
| Median Home Price | $127K |
| Median Gross Rent | $725/mo |
| Median Household Income | $64K |
| Homeownership Rate | 84.5% |
| Renter-Occupied | 15.5% |
| Rental Vacancy Rate | 5.1% |
| Market Type | Balanced |
| Market Tier | Affordable |
| Primary ZIP Code | 61858 |
| Mortgage Originations (2022 HMDA) | |
| Total Mortgage Originations | 262,923 |
| VA Loan Originations | 10,875 |
| VA Loan Share | 0.0% |
| Average VA Loan Amount | $270K |
| Conventional Loan Originations | 219,732 |
| FHA Loan Originations | 32,316 |
Top Real Estate Agents in Lake Killarney, Oakwood Hills
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Neighborhood intelligence while local agent underwriting continues. No agent profiles are currently published for Lake Killarney, Oakwood Hills, IL. Explore the available cited neighborhood data on this page.
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Data Provenance
- State Licensing: Illinois Department of Financial and Professional Regulation (IDFPR) — nightly license verification
- Consumer Ratings: Zillow Consumer Reviews — 24-month rolling window
- Transaction Records: MLS Transaction Data — 3-year performance window
- Housing & Demographics: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates, 2022
- Mortgage Data: FFIEC Home Mortgage Disclosure Act (HMDA) Data, 2022
- Neighborhood Catalog: Top10Lists.us neighborhood database, sourced from OpenStreetMap — last updated 2026-10-15