Forest Park, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Forest Park Neighborhoods Since 2000




Forest Park, IL Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Forest Park Housing Market Information

With 14,123 people, 7,207 houses or apartments, and a median cost of homes of $238,746, Forest Park real estate prices are well above average cost compared to national prices.

Large apartment complexes or high rise apartments are the single most common housing type in Forest Park, accounting for 47.67% of the village's housing units. Other types of housing that are prevalent in Forest Park include duplexes, homes converted to apartments or other small apartment buildings ( 23.08%), single-family detached homes ( 22.58%), and a few row houses and other attached homes ( 6.67%). Villages that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of villages are often walkable and compact, and often have a lively downtown.

People in Forest Park primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Forest Park has a mixture of owner-occupied and renter-occupied housing.

The housing in Forest Park was primarily built before 1939 ( 38.35%), making the housing stock in Forest Park some of the oldest overall in America, although there is a range of ages of homes in Forest Park. The next most important housing age is between 1940-1969 ( 34.84%), followed by between 1970-1999 ( 20.76%). There's also some housing in Forest Park built between 2000 and later ( 6.05%).

Forest Park Home Appreciation Rates

Forest Park's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Forest Park during the period has been just -1.72%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Forest Park's appreciation rate, at 4.13%, has been at or slightly above the national average. In the latest quarter, Forest Park's appreciation rate has been 0.43%, which annualizes to a rate of 1.74%.

Relative to Illinois, our data show that Forest Park's latest annual appreciation rate is higher than 70% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$238,746

Forest Park, IL HOME PRICES

Value Range
> $1,152,000 0.0
$864,001 - $1,152,000 0.0
$576,001 - $864,000 1.2
$461,001 - $576,000 5.4
$346,001 - $461,000 16.9
$231,001 - $346,000 34.6
$115,001 - $231,000 27.2
$58,001 - $115,000 11.5
$0 - $58,000 3.1

Very High for IL
High for Nation

Value Relative to Nation Value Relative to State
24.3232157506153 16.5822784810127

Number Of Homes And Apartments:
7,207

Forest Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
51.61% 2.44% 10 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,187 / per month

Homeownership Rate

Homeownership
Owners 51.33
Renters 48.67
Vacant 7.86

Housing Market Details

 

Age of Homes

AGE OF Forest Park HOMES
2000 or Newer 6.0
1970 - 1999 20.8
1940 - 1969 34.8
1939 or Older 38.4

Types of Homes

TYPE OF Forest Park HOMES
Single-Family 22.6
Townhomes 6.7
Small Apt. Buildings 23.1
Apt. Complexes 47.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Forest Park HOMES
No Bedroom 2.30
1 Bedroom 34.67
2 Bedrooms 38.67
3 Bedrooms 16.31
4 Bedrooms 6.74
5 or more bedrooms 1.30