272 Apartments under 900 for rent in Park Forest, IL

Last updated September 24 at 3:24PM
Results within 1 miles of Park Forest, IL
3705 216th St
Matteson
Matteson, IL
Updated September 24 at 9:31AM
Studio
$650
1240 Emerald Ave
Chicago Heights
Chicago Heights, IL
Updated September 24 at 9:54AM
2 Bedrooms
$800
Results within 5 miles of Park Forest, IL
Results within 10 miles of Park Forest, IL
394 West Lincoln Highway
Chicago Heights
Chicago Heights, IL
Updated September 18 at 10:11AM
1 Bedroom
$750
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Rent Report
Park Forest

September 2017 Park Forest Rent Report

Welcome to the September 2017 Park Forest Rent Report. Park Forest rents remained steady over the past month. In this report, we'll evaluate trends in the Park Forest rental market, including comparisons to cities throughout the metro and nation.

Park Forest rents held steady over the past month

Over the past month Park Forest rents have remained steady. Currently, median rents in Park Forest stand at $980 for a one-bedroom apartment and $1,150 for a two-bedroom. Park Forest's year-over-year rent growth lags the state average of 2.3%, as well as the national average of 3.0%.

Rents rising across the Chicago Metro

While rents have remained steady in the city of Park Forest throughout the past year, cities across the metro have seen a different trend. Rents have risen in 8 of of the largest 10 cities in the Chicago metro for which we have data. Here's a look at how rents compare across some of the largest cities in the metro.

  • Woodridge has seen the fastest rent growth in the metro, with a year-over-year increase of 4.4%. The median two-bedroom there costs $1,460, while one-bedrooms go for $1,240.
  • Over the past month, Hoffman Estates has seen the biggest rent drop in the metro, with a decline of 1.2%. Median two-bedrooms there cost $1,300, while one-bedrooms go for $1,110.
  • Naperville has the most expensive rents of the largest cities in the Chicago metro, with a two-bedroom median of $1,750; rents were up 0.2% over the past month and 2.4% over the past year.
  • Chicago proper has the least expensive rents in the Chicago metro, with a two-bedroom median of $1,290; rents fell 0.2% over the past month but rose 3.8% over the past year.

Park Forest rents more affordable than many large cities nationwide

Rent growth in Park Forest has been relatively stable over the past year - some other large cities have seen more substantial increases; in contrast, rents in a few cities have actually declined. Park Forest is still more affordable than most large cities across the country.

  • Illinois as a whole has logged 2.3% year-over-year growth, while rent trends across other cities throughout the state have varied.
  • Park Forest's median two-bedroom rent of $1,150 is slightly below the national average of $1,160. Nationwide, rents have grown by 3.0% over the past year compared to the stagnant growth in Park Forest.
  • While rents in Park Forest remained moderately stable this year, similar cities saw increases, including Denver (+3.0%), St. Louis (+2.6%), and Baltimore (+2.6%); note that median 2BR rents in these cities go for $1,350, $940, and $1,210 respectively.
  • Renters will find more reasonable prices in Park Forest than most large cities. For example, San Francisco has a median 2BR rent of $3,070, which is more than two-and-a-half times the price in Park Forest.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.
City Median 1BR price Median 2BR price M/M price change Y/Y price change
Chicago $1,100 $1,290 -0.2% 3.8%
Aurora $1,110 $1,300 0.3% 2.3%
Naperville $1,490 $1,750 0.2% 2.4%
Arlington Heights $1,250 $1,470 0.4% 4.0%
Evanston $1,300 $1,530 0.2% 2.5%
Palatine $1,110 $1,310 -0.4% 1.5%
Wheaton $1,260 $1,480 -0.2% -0.1%
Hoffman Estates $1,110 $1,300 -1.2% 2.2%
Woodridge $1,240 $1,460 0.4% 4.4%
Lisle $1,210 $1,420 -0.0% -0.2%
See more

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.