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Park Forest

Learn about the people, housing, costs and businesses in Park Forest, Pennsylvania

Median Home$403,355
Median Rent$1,121/month
Population8,288
Leading IndustryPublic Administration44% of local workforce
Home Value Growth⬆⬆+12.8% over 2 years
Young Adults39% of residentstop 3% nationally
Homeowners52% of occupied units
NotableHighly Educated25% bachelor's · 19% graduate · top 18% nationally
NotableHigh Incomes$86k/year · top 28% nationally
Park Forest Village
PA

Frequently Asked Questions

What are today's mortgage rates in Park Forest?

As of today, the 30-year fixed mortgage rate for Park Forest is approximately 6.926% (6.963% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Park Forest?

The median home value in Park Forest is $403k. The median monthly rent is $1,121. Annual property taxes average $5k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Park Forest?

Home values in Park Forest have increased 12.8% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Park Forest?

Based on a typical all-in ownership cost of $1,487/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $64k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Park Forest is $86k/year.

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What industries drive the economy in Park Forest?

The largest employment sectors in Park Forest are public administration (44%) and retail (9%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.