Forrest, IL—61741
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Forrest, IL
Home Price Trends — Forrest, IL
As of Oct '25, the median home price in Forrest, IL is $159,000, with a year-over-year change of 13.2%. This indicates that home prices in Forrest, IL are increasing. According to Zillow, the 1-year price projection is 4.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $159,000 | 13.2% |
| Single Family | $158,000 | 12.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $124,000 | 12.7% |
3 Bed | $160,000 | 11.1% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Forrest, IL
Forrest, IL lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Forrest, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Forrest, IL is 39. This is a increase of 19.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $152,000 | 11.0% |
Listing Count | 6 | 180.0% |
| Listings as % of Homes | 1.3% | 180.0% |
Days on Market | 39 | 19.0% |
Demographics — Forrest, IL
As of the latest ACS Survey released in 2023, Forrest, IL has a population of 1,640, which has decreased by -3.9% over the past 5 years. Forrest, IL is a popular place for families, as children make up 29.4% of the population. The area has a poorly educated workforce, with 19.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,640 | -3.9% |
% Under 18 | 29.4% | -5.5% |
% Seniors | 13.7% | -9.3% |
% WFH | 4.9% | 145.0% |
% w/ College Degree | 19.3% | 60.8% |
As of the latest ACS Survey released in 2023, Forrest, IL is a predominantly white area, with 91.3% of the population identifying as white. The white population has shrunk by 2.8% in the last 5 years. The second most common race or ethnicity in Forrest, IL is hispanic, making up 5.6% of the population. Foreign-born residents account for 1.2% of the population in Forrest, IL, and this percentage has decreased by 45.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 91.3% | -2.8% |
% Black | 1.0% | 150.0% |
% Hispanic | 5.6% | 24.4% |
% Asian | 0.0% | N/A |
% Foreign Born | 1.2% | -45.5% |
Mortgage and Risk — Forrest, IL
According to HUD data as of 2023, there were 56 mortgage originations in Forrest, IL, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 9.0% above 90% LTV (normal). This implies small mortgage risk in Forrest, IL. Investor activity is low, as 12.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 56 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 12.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Forrest, IL
Forrest, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $670 |
| 2 Bedroom | N/A | N/A | $870 |
| 3 Bedroom | N/A | N/A | $1,110 |
| 4 Bedroom | N/A | N/A | $1,150 |
Affordability — Forrest, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.5 |
| Median Home Price | $159,000 |
| Median Household Income | $82,400 |