Market Overview
Home Prices in Forest Park, IL
The median home value in Forest Park, IL is $291,585 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 6.1% compared to a year ago and up 0.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Forest Park are priced29% below average. Forest Park is part of the Chicago-Naperville-Elgin, IL-IN-WI metro area.
Over the past five years, Forest Park home values have risen by approximately18.9%, reflecting steady appreciation in this market.
Price History
Forest Park Home Price Trend
City Comparison
Forest Park vs. National Median
At $291,585, homes in Forest Park cost 29% below the national median of $410,000. This makes Forest Park a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Forest Park?
20% Down Payment
$58,317
on $291,585
Monthly P&I
$1,521/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,932/mo
incl. taxes & insurance
Income Needed
$77,280
gross annual (30% rule)
10% Down Option
$29,159
+ PMI applies
Loan Amount (20% dn)
$233,268
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 Park, IL?
The median home value in Forest Park is $291,585 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 6.1% year-over-year.
How much have home prices changed in Forest Park?
Over the past year, home values in Forest Park have increased by 6.1%. Over five years, prices have risen approximately 18.9%.
How much do I need to earn to buy a home in Forest Park?
To comfortably afford the median home price of $291,585 with a 20% down payment ($58,317) at today's rates (6.8%), you'd need a gross annual income of approximately $77,280. This assumes keeping total housing costs at or below 30% of gross income.
How does Forest Park compare to the national average home price?
The national median home value is approximately $410,000. At $291,585, homes in Forest Park are 29% below the national average.
What metro area is Forest Park part of?
Forest Park is part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.