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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 13,802 people, 7,328 houses or apartments, and a median cost of homes of $335,139, 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 41.20% of the village's housing units. Other types of housing that are prevalent in Forest Park include single-family detached homes ( 29.37%), duplexes, homes converted to apartments or other small apartment buildings ( 22.68%), and a few row houses and other attached homes ( 6.20%). 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 ( 42.70%), 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 ( 28.55%), followed by between 1970-1999 ( 20.26%). There's also some housing in Forest Park built between 2000 and later ( 8.49%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Forest Park, where house values have increased just 50.91%, which is annualized rate of 4.20%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Forest Park appreciation rates have trailed the rest of the nation. In the last twelve months, Forest Park's appreciation rate has been 0.70%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Forest Park were at 2.79%, which equates to an annual appreciation rate of 11.63%.
Relative to Illinois, our data show that Forest Park's latest annual appreciation rate is lower than 90% of the other cities and towns in Illinois.
$335,139
for Illinois
for nation
7,328
$2,137 / per month