Park Forest, IL
Population 20,898 · Illinois
About Park Forest, IL
Park Forest is a mid-sized city located in Illinois with a population of 20,898 residents according to the latest US Census Bureau American Community Survey data. The median household income is $62,305 per year, which is 17% below the national median of $75,149. The median age of 36.9 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Park Forest features a median home value of $106,200, which is 57% below the national median of $244,900. This makes Park Forest one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $1,341, 15% above the national average of $1,163/month. Of the 9,015 total housing units, 64% are owner-occupied (5,296 units) and 36% are renter-occupied (2,917 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Park Forest shows an unemployment rate of 7.2%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 17.2%, above the national average of 12.4%. Workers in Park Forest have an average one-way commute time of 33.7 minutes.
Education & Demographics
25.8% of Park Forest residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 8.0% White, 2.2% Hispanic or Latino, 0.2% Black or African American, and 0.7% Asian residents, with 6.1% of the population being foreign-born.
Cost of Living in Park Forest, IL
Compared to national averages, Park Forest has a median household income of $62,305 (17% below the national median of $75,149). Home values average $106,200, which is 57% below the national median. Monthly rent at $1,341 is 15% above the US average of $1,163. Within Illinois, Park Forest's income is 17% below the state average of $75,072, and home values are 36% below the state median of $165,779.
Why Live in Park Forest, IL?
Park Forest offers affordable housing with a median home value of $106,200, below the US average of $244,900.
Potential considerations include median household income ($62,305) that falls below the national average. However, Park Forest’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Park Forest has a population of 20,898 with a median age of 36.9 years. Compare Park Forest with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Park Forest
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| East Moline | 20,837 | $63,328 | $135,300 | Compare |
| Dolton | 20,979 | $58,706 | $140,500 | Compare |
| South Holland | 21,016 | $87,378 | $201,200 | Compare |
| Grayslake | 20,707 | $113,697 | $293,900 | Compare |
| Montgomery | 21,205 | $96,985 | $270,700 | Compare |
| Geneva | 21,299 | $136,621 | $415,800 | Compare |
| Libertyville | 20,493 | $162,270 | $499,300 | Compare |
| Frankfort | 20,417 | $153,714 | $461,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Park Forest With Other Cities
Frequently Asked Questions about Park Forest
What is the population of Park Forest, IL?
The population of Park Forest, IL is 20,898 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Illinois.
What is the median household income in Park Forest?
The median household income in Park Forest, IL is $62,305 per year, which is 17% below the national median of $75,149.
What is the median home value in Park Forest?
The median home value in Park Forest, IL is $106,200, which is 57% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Park Forest?
The median monthly rent in Park Forest, IL is $1,341, which is 15% above the national average of $1,163/month.
What is the unemployment rate in Park Forest?
The unemployment rate in Park Forest, IL is 7.2%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Park Forest, IL a good place to live?
Park Forest offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 20,898 and a median age of 36.9, the city appeals to a broad range of residents.
How educated is Park Forest, IL?
25.8% of residents in Park Forest aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Park Forest?
Key cost-of-living indicators for Park Forest, IL: median home value is $106,200 (57% below national), median rent is $1,341/month, and median household income is $62,305. The home-value-to-income ratio is 1.7x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Park Forest?
The poverty rate in Park Forest, IL is 17.2%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Park Forest, IL?
Park Forest's population is 8.0% White, 2.2% Hispanic or Latino, 0.2% Black or African American, 0.7% Asian, and 69.5% two or more races. 6.1% of residents are foreign-born.