River Forest, IL—60305
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — River Forest, IL
As of Oct '25, the median home price in River Forest, IL is $680,000, with a year-over-year change of 5.7%. This indicates that home prices in River Forest, IL are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $680,000 | 5.7% |
| Single Family | $849,000 | 6.0% |
| Condos | $234,000 | 0.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $152,000 | 6.3% |
2 Bed | $259,000 | 6.1% |
3 Bed | $639,000 | 5.1% |
4 Bed | $919,000 | 5.9% |
| 5 Bed | $1,219,000 | 4.6% |
% of Housing Stock
Rental Trends — River Forest, IL
As of July '25, Rentcast reports the average rent in River Forest, IL is $2,250, with a year-over-year rent change of -7.0%. Per bedroom, the median rent as of July '25 in River Forest, IL is 1-bedrooms: $1,200, 2-bedrooms: $1,980, 3-bedrooms: $4,020, 4-bedrooms: $3,500. The most common rental property sizes in River Forest, IL are 1-bedroom and 2-bedroom, accounting for 51.4% and 40.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $2,250 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,200 | $1,200 |
| 2 Bed Rent | $1,750 | $1,980 |
| 3 Bed Rent | $3,750 | $4,020 |
| 4 Bed Rent | $3,500 | $3,500 |
% of Rental Stock
Property Listings — River Forest, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in River Forest, IL is 36. This is a decrease of -5.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 9.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $387,000 | 4.0% |
Listing Count | 43 | 15.0% |
| Listings as % of Homes | 1.1% | 15.0% |
Days on Market | 36 | -5.0% |
Demographics — River Forest, IL
As of the latest ACS Survey released in 2023, River Forest, IL has a population of 11,500, which has increased by 3.8% over the past 5 years. River Forest, IL is a moderately popular place for families, as children make up 24.2% of the population. The area has a highly educated workforce, with 73.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 23.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 11,500 | 3.8% |
% Under 18 | 24.2% | -3.6% |
% Seniors | 19.7% | 18.7% |
% WFH | 23.8% | 73.7% |
% w/ College Degree | 73.4% | -4.9% |
As of the latest ACS Survey released in 2023, River Forest, IL is a predominantly white area, with 78.3% of the population identifying as white. The white population has shrunk by 4.4% in the last 5 years. The second most common race or ethnicity in River Forest, IL is asian, making up 6.8% of the population. Foreign-born residents account for 12.5% of the population in River Forest, IL, and this percentage has increased by 30.2% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 78.3% | -4.4% |
% Black | 4.7% | -26.6% |
% Hispanic | 6.4% | 8.5% |
% Asian | 6.8% | 44.7% |
% Foreign Born | 12.5% | 30.2% |
Mortgage and Risk — River Forest, IL
According to HUD data as of 2023, there were 194 mortgage originations in River Forest, IL, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in River Forest, IL. Investor activity is low, as 3.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 194 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — River Forest, IL
As of 2024, the percent of homes in River Forest, IL under the Section 8 program is 0.6%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in River Forest, IL, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 4 |
Total Units Section 8 | 4 |
% Rentals under Section 8 | 0.6% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $430 | $1,200 | $1,630 |
| 2 Bedroom | $90 | $1,750 | $1,840 |
| 3 Bedroom | -$1,390 | $3,750 | $2,360 |
| 4 Bedroom | -$720 | $3,500 | $2,780 |
Affordability — River Forest, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $680,000 |
| Median Household Income | $149,000 |