River Forest appreciation rates and housing market information

River Forest housing market information

With 11,635 people, 4,232 houses or apartments, and a median cost of homes of $630,119, River Forest house prices are not only among the most expensive in Illinois, River Forest real estate also is some of the most expensive in all of America.

single-family detached homes are the single most common housing type in River Forest, accounting for 61.98% of the village's housing units. Other types of housing that are prevalent in River Forest include large apartment complexes or high rise apartments (25.99%), duplexes, homes converted to apartments, or other small apartment buildings (6.40%), and a few row houses and other attached homes (5.46%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in River Forest. Owner-occupied housing accounts for 83.98% of River Forest's homes, and 57.16% have either three or four bedrooms, which is average sized relative to America.

The housing in River Forest was primarily built before 1939 (49.31%), making the housing stock in River Forest some of the older overall in America, although there is a range of ages of homes in River Forest. The next most important River Forest housing age is 1940-1969 (37.76%), followed by 1970-1994 (11.63%). There's also some housing in River Forest built between 1995 and later (1.30%).

River Forest home appreciation rates

Real estate appreciation rates in River Forest have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 7.36% during the period.

Over the last year, River Forest appreciation rates have trailed the rest of the nation. In the last twelve months, River Forest's appreciation rate has been -4.43%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in River Forest were at -0.69%, which equates to an annual appreciation rate of -2.76%.

Notably, River Forest's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Illinois, our data show that River Forest's latest annual appreciation rate is higher than 17% of the other cities and towns in Illinois.