Market Overview
Home Prices in Forest City, IL
The median home value in Forest City, IL is $85,551 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 10% compared to a year ago and down 5.5% from two years prior.
Compared to the U.S. national median of $410,000, homes in Forest City are priced79% below average.
Over the past five years, Forest City home values have fallen by approximately13.0%, reflecting softening conditions in this market.
Price History
Forest City Home Price Trend
2020
$100,968
$101K
—
2021
$98,334
$98K
-2.6%
2022
$98,898
$99K
+0.6%
2023
$93,259
$93K
-5.7%
2024
$82,263
$82K
-11.8%
2025
$77,751
$78K
-5.5%
2026
$85,551
$86K
+10.0%
City Comparison
Forest City vs. National Median
🏠 Forest City
$85,551
National Median
$410,000
At $85,551, homes in Forest City cost 79% below the national median of $410,000. This makes Forest City a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Forest City?
20% Down Payment
$17,110
on $85,551
Monthly P&I
$446/mo
30-yr @ 6.8%
Total Monthly Est.
~$566/mo
incl. taxes & insurance
Income Needed
$22,640
gross annual (30% rule)
10% Down Option
$8,555
+ PMI applies
Loan Amount (20% dn)
$68,441
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Forest City, IL?
The median home value in Forest City is $85,551 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 10% year-over-year.
How much have home prices changed in Forest City?
Over the past year, home values in Forest City have increased by 10%. Over five years, prices have fallen approximately 13.0%.
How much do I need to earn to buy a home in Forest City?
To comfortably afford the median home price of $85,551 with a 20% down payment ($17,110) at today's rates (6.8%), you'd need a gross annual income of approximately $22,640. This assumes keeping total housing costs at or below 30% of gross income.
How does Forest City compare to the national average home price?
The national median home value is approximately $410,000. At $85,551, homes in Forest City are 79% below the national average.