Olympic Village Apartments
31 Olympic Vlg,
Chicago Heights, IL 60411
1-3 Beds | $1,200 - $1,645
Rental Market Trends in Park Forest, IL
Updated July 2026
The average rent in Park Forest, IL is $1,344/month.
Rent in Park Forest is 19% lower than the national average rent of $1,663/month, making this one of the less expensive cities statewide.
$1,344/month
Average Rent
788 Sq Ft
Average Size
+2.9%
Change / Year
71
Available Apartments
Park Forest rent varies by unit size and layout:
- Studio apartments in Park Forest average $1,051 per month.
- One-bedroom apartments in Park Forest average $1,344 per month.
- Two-bedroom apartments in Park Forest average $1,564 per month.
- Three-bedroom apartments in Park Forest average $1,844 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Park Forest, IL?
In the past year, rent has increased by 2.9%, which averages out to $39 more per month.
Market Trends Over Time
July 2026
2025
2026
Rent Ranges in Park Forest, IL
July 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
50%
$1,001 - $1,500/month
50%
$1,501 - $2,000/month
0%
Above $2,000/month
What salary do I need to live comfortably in Park Forest, IL?
Because the average rent in Park Forest is $1,344, you’ll want to make about $4,480 per month or $53,760 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Park Forest, IL compare to other nearby cities and neighborhoods?
Use the tool below to compare Park Forest, IL to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
View the Park Forest Area GuideCompare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
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Frequently Asked Questions
What is the average rent in Park Forest?
The average rent in Park Forest is $1,344 per month, which is 19.2% lower than the national average of $1,663.
What is the average rent for a house in Park Forest?
The average rent for a house in Park Forest, IL is $2,085 per month.
Are rents going up or down in Park Forest?
Rents in Park Forest, IL are increasing, with prices up 2.9% year-over-year and $39 more per month.
What rent range is most common in Park Forest?
In Park Forest, IL, 50% of apartments fall between $1,001 - $1,500/month, though prices may vary depending on location and other factors.
Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.