River Forest, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating River Forest Neighborhoods Since 2000




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 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

River Forest Housing Market Information

With a population of 11,199, 3,944 total housing units (homes and apartments), and a median house value of $667,516, 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 68.08% of the village's housing units. Other types of housing that are prevalent in River Forest include large apartment complexes or high rise apartments ( 21.14%), duplexes, homes converted to apartments or other small apartment buildings ( 6.01%), and a few row houses and other attached homes ( 4.41%).

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 80.56% of River Forest's homes, and 63.81% have either three or four bedrooms, which is average sized relative to America.

The housing in River Forest was primarily built before 1939 ( 46.06%), 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 ( 39.41%), followed by between 1970-1999 ( 12.00%). There's also some housing in River Forest built between 2000 and later ( 2.53%).

River Forest Home Appreciation Rates

Real estate appreciation rates in River Forest's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.60% during the period.

NeighborhoodScout's data show that during the latest twelve months, River Forest's appreciation rate, at 4.74%, has been at or slightly above the national average. In the latest quarter, River Forest's appreciation rate has been 0.43%, which annualizes to a rate of 1.74%.

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:
$667,516

River Forest, IL HOME PRICES

Value Range
> $1,132,000 12.0
$849,001 - $1,132,000 14.6
$566,001 - $849,000 31.0
$453,001 - $566,000 11.4
$340,001 - $453,000 5.6
$227,001 - $340,000 8.6
$113,001 - $227,000 9.6
$57,001 - $113,000 2.9
$0 - $57,000 4.4

Very High for IL
Very High for Nation

Value Relative to Nation Value Relative to State
2.97081917262393 1.77215189873418

Number Of Homes And Apartments:
3,944

River Forest 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
45.10% 2.18% 9 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,720 / per month

Homeownership Rate

Homeownership
Owners 80.56
Renters 19.44
Vacant 5.92

Housing Market Details

 

Age of Homes

AGE OF River Forest HOMES
2000 or Newer 2.5
1970 - 1999 12.0
1940 - 1969 39.4
1939 or Older 46.1

Types of Homes

TYPE OF River Forest HOMES
Single-Family 68.1
Townhomes 4.4
Small Apt. Buildings 6.0
Apt. Complexes 21.1
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF River Forest HOMES
No Bedroom 0.31
1 Bedroom 4.75
2 Bedrooms 21.76
3 Bedrooms 35.47
4 Bedrooms 28.34
5 or more bedrooms 9.38