At $1,857/mo, rent takes about 36% of the local median household income, slightly above the 30% benchmark.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,857 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
30% of the median household income ($61,072) is $1,527 a month. That covers HUD's Fair Market Rent for up to a studio ($1,520); a 1-bedroom is $1,630.
From Zillow's monthly rent index (ZORI) for Park Forest. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Park Forest, IL is majority owner-occupied, has a median income below the national average, 24.3% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Park Forest, IL has changed in 5 years
Median household income climbed from $58,657 to $61,072 between 2021 and 2024, a 4.1% shift. Census counts show Park Forest, IL losing about 212 residents over the five-year window, down 1.0% on net. The renter share has eased from 42.3% to 34.2%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 27.4% to 24.3% across the same window.
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At $1,857/mo, how Park Forest rent compares to typical pay (30% rule).
Park Forest rent by bedroom count
Median rent for each apartment size in Park Forest. Click any size for full breakdown.
Tips for renters in Park Forest
Last updated: October 17, 2026
The median rent in Park Forest is $1,857/mo as of October 2026. A studio apartment averages $1,520/mo while a 2-bedroom runs $1,840/mo. One-bedroom apartments average $1,630/mo and 3-bedroom units go for $2,360/mo.
At 36% of local median household income ($61,072/yr), Park Forest ranks as moderate compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.
Frequently asked questions
How much income do you need to rent in Park Forest?
Is rent going up or down in Park Forest?
How does Park Forest rent compare to other cities in Illinois?
Which nearby cities are cheaper to rent in than Park Forest?
At $1,857/mo, rent takes ~36% of Park Forest's median household income ($61,072/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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