Park Forest, Illinois Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Park Forest, Illinois rental market.
Park Forest, Illinois
Average Apartment Rent
$1,531
Y-o-Y Change in Average
Apartment Rent
2.9%
As of May 2026
Compared to a year ago, Park Forest, Illinois apartments have recorded a 2.9% rent increase.
Park Forest, Illinois Average apartment rent trend
Park Forest, Illinois Average Apartment Rent
Park Forest, Illinois Apartment rent ranges
At 57.51%, apartments priced $1,500 - $2,000 represent the bulk of Park Forest, Illinois rentals, while condos priced Under $1,000 hold the lowest share of the market – 1.71%.
Park Forest, Illinois Housing tenure**
Renters take up 39% of Park Forest, Illinois real estate, occupying a total of 3,088 units, while homeowners live in 4,888 properties.
Median number of rooms of renter-occupied housing units**
5.7
Renter median household income**
$57,015
Average household size of renter-occupied housing units**
2.68
Rental vacancy rate**
3.6%
Park Forest, Illinois Renter-occupied housing units by no. of bedrooms**
There are 1,059 rentals in Park Forest, Illinois with 3 beds making up the highest share of the market, at 34%. Units with No bedrooms, on the other hand, hold the lowest percentage (2%), amounting to 69 units. Overall, the median number of rooms in Park Forest, Illinois homes for rent is 5.7.
Park Forest, Illinois Renter-occupied units by age of householder**
Most condos for rent in Park Forest, Illinois are occupied by residents in the 35 - 44 years age group (31%), followed by those in the 45 - 54 years age group (21%). At the same time, people in the 15 - 24 years age group make up the lowest share of the local rental market – 2%.
Park Forest, Illinois Renter-occupied housing units by family type**
Park Forest, Illinois Renter-occupied housing units by the presence of own children**
A total of 2,003 apartments for rent in Park Forest, Illinois, or 65% of all rentals are family households. Additionally, 37% of rental homes include children under the age of 18 – that’s 1,136 units. All in all, the median size of a renter-occupied household in Park Forest, Illinois is 2.68.
Park Forest, Illinois Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 27% of the rental market. In contrast, residents with less than a high school degree reside in 7% of the homes for rent in Park Forest, Illinois.
Park Forest, Illinois Renter-occupied units by year structure built**
The highest share of Park Forest, Illinois apartment rentals, namely 30% or 926 units, were Built 1950 - 1959, followed by those Built 1970 - 1979 (21%, 655 units), and the ones Built 1960 - 1969 (21%, 647 units).
Park Forest, Illinois Renter-occupied units by year householder moved in**
Median year renter moved into unit 2015
Most Park Forest, Illinois renters (43%) moved in 2010 to 2017, while only 2% of them moved in 2021 or later. Overall, the median year renters have occupied their Park Forest, Illinois condos for rent is 2015.
Park Forest, Illinois Renter-occupied housing units by vehicles available**
When it comes to transportation options, 52% of Park Forest, Illinois renters have 1 vehicle available per household, 33% of them have 2 vehicles available, and 7% have 3 vehicles available.
Park Forest, Illinois Means of transportation to work of householders living in renter-occupied housing units**
Park Forest, Illinois Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Park Forest, Illinois apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
