Park Forest, IL Profile: Facts & Data

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Park Forest, Illinois - Basic Facts

The Village of Park Forest had a population of 21,581 as of July 1, 2023. Park Forest ranks in the upper quartile for Population Density and Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Illinois. See peer rankings below.

The primary coordinate point for Park Forest is located at latitude 41.4914 and longitude -87.6745 in Cook County. The formal boundaries for the Village of Park Forest encompass a land area of 4.96 sq. miles and a water area of 0 sq. miles. Cook County is in the Central time zone (GMT -6).

While the primary coordinates for Village of Park Forest are located in Cook County, it should be noted that the formal boundaries for this community also extend into and Will County.

The Village of Park Forest has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The Village of Park Forest is located within Township of Rich, a minor civil division (MCD) of Cook County.


Jump to... (On This Page!)
  1. Park Forest 2023 Demographic Data
  2. Growth Rates for Park Forest (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. Illinois Research Tools (Easy Tools & Current Data)
  3. Illinois Data Comparison Tool - 2023 Demographics
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Park Forest, IL Data & Demographics (As of July 1, 2023)

POPULATION

Total Population 21,581 (100%)
Population in Households 21,257 (98.5%)
Population in Families 16,897 (78.3%)
Population in Group Quarters1 324 ( 1.5%)
Population Density 4,350
Diversity Index2 55
 
 

INCOME

Median Household Income $57,377
Average Household Income $70,925
% of Income for Mortgage4 8%
Per Capita Income $29,072
Wealth Index5 51
Socioeconomic Status Index6 Moderate (47.4)
 

HOUSING

Total HU (Housing Units) 9,738 (100%)
Owner Occupied HU 5,559 (57.1%)
Renter Occupied HU 3,279 (33.7%)
Vacant Housing Units 900 ( 9.2%)
Median Home Value $76,934
Average Home Value $129,817
Housing Affordability Index3 236
 

HOUSEHOLDS

Total Households 8,838
Average Household Size 2.41
Family Households 5,329
Average Family Size 3.00
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
  6. The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR

2020-2023 2023-2028
Population -0.15% -0.32%
Households 0.10% 0.04%
Families   -0.02%
Median Household Income   1.61%
Per Capita Income   2.62%
Owner Occupied HU   0.47%

Park Forest, IL - Peer Comparisons by Rank and Percentile

The table below compares Park Forest to the other 1,464 incorporated cities, towns and CDPs in Illinois by rank and percentile using July 1, 2023 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 112 92nd
Population Density # 72 95th
Median Household Income # 981 33rd
Housing Affordability Index # 1341 92nd
Per Capita Income # 1191 19th
Diversity Index # 224 85th

Additional comparisons and rankings can be made with a VERY EASY TO USE Illinois Census Data Comparison Tool.

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