River Forest, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating River Forest Neighborhoods Since 2000




River Forest, IL Real Estate Data


River Forest Housing Market Information

With a population of 11,199, 3,895 total housing units (homes and apartments), and a median house value of $634,501, 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 68.10% of the village's housing units. Other types of housing that are prevalent in River Forest include large apartment complexes or high rise apartments ( 20.82%), duplexes, homes converted to apartments or other small apartment buildings ( 6.84%), and a few row houses and other attached homes ( 4.24%).

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 82.79% of River Forest's homes, and 62.37% have either three or four bedrooms, which is average sized relative to America.

The housing in River Forest was primarily built before 1939 ( 49.45%), 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 ( 35.04%), followed by between 1970-1999 ( 12.40%). There's also some housing in River Forest built between 2000 and later ( 3.11%).

River Forest Home Appreciation Rates

River Forest's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in River Forest during the period has been just -0.68%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, River Forest's appreciation rate, at 5.64%, has been at or slightly above the national average. In the latest quarter, River Forest's appreciation rate has been 1.63%, which annualizes to a rate of 6.69%.

Relative to Illinois, our data show that River Forest's latest annual appreciation rate is higher than 80% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$634,501

River Forest, IL HOME PRICES

Value Range
> $1,138,000 14.3
$853,001 - $1,138,000 15.9
$569,001 - $853,000 26.7
$455,001 - $569,000 9.1
$341,001 - $455,000 5.1
$227,001 - $341,000 11.2
$114,001 - $227,000 11.0
$57,001 - $114,000 1.9
$0 - $57,000 4.7

Very High for IL
Very High for Nation

Value Relative to Nation Value Relative to State
3.56620015225157 2.0253164556962

Number Of Homes And Apartments:
3,895

Rent & Ownership

 

Average Market Rent:
$1,579 / per month

Homeownership Rate

Homeownership
Owners 82.79
Renters 17.21
Vacant 8.16

Housing Market Details

 

Age of Homes

AGE OF River Forest HOMES
2000 or Newer 3.1
1970 - 1999 12.4
1940 - 1969 35.0
1939 or Older 49.4

Types of Homes

TYPE OF River Forest HOMES
Single-Family 68.1
Townhomes 4.2
Small Apt. Buildings 6.8
Apt. Complexes 20.8
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF River Forest HOMES
No Bedroom 0.35
1 Bedroom 4.50
2 Bedrooms 20.66
3 Bedrooms 36.24
4 Bedrooms 26.13
5 or more bedrooms 12.12

River Forest Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
44.27% 2.18% 9 5
* 10 is highest