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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



River Forest, IL Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

River Forest, IL Housing Market Trends

With 11,327 people, 4,341 houses or apartments, and a median cost of homes of $846,607, 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 58.65% of the village's housing units. Other types of housing that are prevalent in River Forest include large apartment complexes or high rise apartments ( 29.25%), row houses and other attached homes ( 6.32%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.35%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in River Forest. Owner-occupied housing accounts for 80.36% of River Forest's homes, and 52.40% have either three or four bedrooms, which is average sized relative to America.

The housing in River Forest was primarily built before 1939 ( 42.87%), making the housing stock in River Forest some of the oldest overall in America, although there is a range of ages of homes in River Forest. The next most important housing age is between 1940-1969 ( 33.76%), followed by between 1970-1999 ( 14.24%). There's also some housing in River Forest built between 2000 and later ( 9.13%).

River Forest Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in River Forest, where house values have increased just 36.27%, which is annualized rate of 3.14%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

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 4.77%, 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 0.21%, which equates to an annual appreciation rate of 0.86%.

Relative to Illinois, our data show that River Forest's latest annual appreciation rate is higher than 50% of the other cities and towns in Illinois.

Average Home Values

Median Home Value

$846,607

River Forest, IL Home Prices
> $1,115,000
$836,001 - $1,115,000
$558,001 - $836,000
$446,001 - $558,000
$335,001 - $446,000
$223,001 - $335,000
$112,001 - $223,000
$56,001 - $112,000
$0 - $56,000
19.5%
19.5%
23.4%
23.4%
25.9%
25.9%
5.7%
5.7%
5.2%
5.2%
13.9%
13.9%
4.0%
4.0%
1.6%
1.6%
0.9%
0.9%
0% 100.0%
% of Homes
Very High

for Illinois

Very High

for nation

Number of Homes And Apartments:

4,341

River Forest Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,956 / per month

Homeownership Rate

Owners
Renters
80.4%
80.4%
19.6%
19.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
4.5%
4.5%
95.5%
95.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
9.1%
9.1%
14.2%
14.2%
33.8%
33.8%
42.9%
42.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
58.6%
58.6%
6.3%
6.3%
5.3%
5.3%
29.2%
29.2%
0.4%
0.4%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
9.0%
9.0%
24.8%
24.8%
26.8%
26.8%
25.6%
25.6%
13.9%
13.9%
0% 100.0%
% of Homes