River Forest, 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 Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (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 Housing Market Information

With a population of 10,816, 3,965 total housing units (homes and apartments), and a median house value of $786,262, 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 66.07% of the village's housing units. Other types of housing that are prevalent in River Forest include large apartment complexes or high rise apartments ( 23.75%), duplexes, homes converted to apartments or other small apartment buildings ( 5.41%), and a few row houses and other attached homes ( 4.10%).

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 81.62% of River Forest's homes, and 62.57% have either three or four bedrooms, which is average sized relative to America.

The housing in River Forest was primarily built before 1939 ( 44.26%), 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 ( 42.81%), followed by between 1970-1999 ( 10.84%). There's also some housing in River Forest built between 2000 and later ( 2.10%).

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 1.53%, which is lower than 70% of US communities.

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 2.94%, 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 1.09%, which equates to an annual appreciation rate of 4.43%.

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

 
info

Median Home Value:
$786,262

River Forest, IL HOME PRICES

> $1,141,000
10.8%
10.8%
$856,001 - $1,141,000
20.5%
20.5%
$570,001 - $856,000
30.3%
30.3%
$456,001 - $570,000
8.6%
8.6%
$343,001 - $456,000
3.9%
3.9%
$228,001 - $343,000
10.3%
10.3%
$114,001 - $228,000
10.9%
10.9%
$57,001 - $114,000
2.1%
2.1%
$0 - $57,000
2.8%
2.8%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for IL

Value Relative To Nation

Number Of Homes And Apartments:
3,965

River Forest Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
54.99% 2.13%
9
4
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,519 / per month

Homeownership Rate

Owners
81.6%
81.6%
Renters
18.4%
18.4%
Vacant
7.6%
7.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
2.1%
2.1%
1970 - 1999
10.8%
10.8%
1940 - 1969
42.8%
42.8%
1939 or Older
44.3%
44.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
66.1%
66.1%
Townhomes
4.1%
4.1%
Small Apt. Buildings
5.4%
5.4%
Apt. Complexes
23.7%
23.7%
Mobile Homes
0.7%
0.7%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.4%
0.4%
1 Bedroom
5.8%
5.8%
2 Bedrooms
22.2%
22.2%
3 Bedrooms
31.9%
31.9%
4 Bedrooms
30.7%
30.7%
5 or more bedrooms
9.0%
9.0%
0.0% 100.0%
% OF HOMES