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Featured local agent — Park Forest, IL
Sarah Mitchell
Compass Real Estate · Park Forest, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Park Forest, IL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$166,000median sale price
How is the Park Forest, IL housing market right now?
The median home sale price in Park Forest, IL is $166,000, up 4.7% year-over-year. Homes sell in an average of 78 days with 146 active listings. The market is currently a buyer's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Park Forest a buyer's or seller's market?
Park Forest, IL is currently a buyer's market, based on 7.0 months of supply and homes selling in about 78 days. How we determine this →
Homes sold
21
Last 12 weeks
Days on market
78
Average pace
Active listings
146
7.0 months supply
Sale-to-list
99.8%
Below asking
What does the Park Forest housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $166,000 |
| Median list price | $173,250 |
| Year-over-year price change | +4.7% |
| Average days on market | 78 days |
| Active inventory | 146 listings |
| Months of supply | 7.0 months |
| Sale-to-list price ratio | 99.8% |
| Median price per sq ft | $135/sq ft |
| Homes sold (latest month) | 21 |
| New listings (latest month) | 46 |
| Listings with a price cut | 21.2% |
| Market condition | Buyer's market |
Source: Redfin · Updated monthly
How much do homes cost in Park Forest by property type?
How the Park Forest, IL market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $170,000 | $137/sq ft | 19 | 78 days |
| Condo / Co-op | $65,000 | $46/sq ft | 1 | 27 days |
| Townhouse | $66,000 | $66/sq ft | 1 | 83 days |
Source: Redfin · Updated monthly
The Park Forest housing market is currently classified as a buyer's market with a median sale price of $166,000. Prices have risen 4.7% compared to last year, with homes spending an average of 78 days on market, indicating 7.0 months of inventory.This inventory level gives buyers significantly more negotiating power, allowing time to inspect properties thoroughly and potentially negotiate better terms.The price-to-income ratio of 2.6x provides context for how home values compare to local earning capacity.
Homes for sale in Park Forest
There are currently 146 homes listed for sale in Park Forest, Illinois. The median listing price is $173K.
Active listings
146
Homes on market
Median list price
$173K
Avg. days on market
78
Days until sale
New this week
46
Newly listed
Who lives in Park Forest?
Population
20,898
Median income
$62,305/yr
Median age
36.9 years
Owner-occupied
64.5%
College grads
25.8%
Avg commute
33.7 min
Source: U.S. Census Bureau ACS
What are homes worth in Park Forest?
Zillow home value
$160,932
Zillow rent index
$1,981/mo
Price-to-rent ratio
6.8x
Price-to-income
2.6x
Source: Zillow Research
What is it like to live in Park Forest?
Park Forest is a community of approximately 21K residents with a median age of 36.9 years.The median household income is $62,305, which represents a working-class community with solid middle-income opportunities. 25.8% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 64.5%, showing a blend of owner and renter-occupied properties. The average commute time is 33.7 minutes, which suggests a more suburban or rural location for those willing to commute longer distances.Overall, Park Forest offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Park Forest?
8 schools tracked · 2,085 students
The largest public schools serving Park Forest, IL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Michelle Obama Sch of Technology
Grades 6-8 · 496 students
Illinois School
Grades K-8 · 399 students
Talala Elementary School
Grades K-5 · 287 students
Mohawk Primary Center
Grades K-3 · 268 students
Indiana Elem School
Grades 4-6 · 191 students
Blackhawk Primary Center
Grades K-3 · 169 students
21st Century Primary Center
Grades K-3 · 147 students
Algonquin Primary Center
Grades PK · 128 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Park Forest, IL?
Want a head-to-head view? Compare Park Forest side-by-side with any other U.S. city using our market-comparison tool.
Is Park Forest a good real estate investment market?
For investors evaluating Park Forest, the price-to-rent ratio of 6.8x suggests potential rental yield opportunity, making the market attractive for income-focused investors. The market has appreciated 4.7% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Park Forest's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Park Forest's median home price.
Frequently asked questions
What is the average home price in Park Forest?
The median home sale price in Park Forest is $166,000, up 4.7% from last year.
How long do homes stay on market in Park Forest?
Homes typically spend 78 days on market before going under contract.
What is the median income in Park Forest?
The median household income is $62,305 per year.
Is Park Forest a buyer's or seller's market?
With 7.0 months of supply, Park Forest is currently a buyer's market.
What is the Zillow home value estimate for Park Forest?
The Zillow Home Value Index (ZHVI) for Park Forest is $160,932, representing the typical home value in the area.
What is the median condo price in Park Forest?
The median condo/co-op sale price in Park Forest, IL is $65,000, compared to $170,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Park Forest?
The median single-family home price in Park Forest, IL is $170,000 (about $137 per square foot).
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