The story of this market
The typical home in ZIP 60466 sells for about $174,000, or $124 per square foot.
Prices are up +18.77% from a year ago, so sellers still have some momentum. Homes take about 48 days to sell. HUD's fair market rent for a two-bedroom is $1,365 a month.
ZIP 60466 — Park Forest
The 60466 housing market is showing signs of recovery with a significant year-over-year increase in median sold prices. While inventory remains tight, the market is moving at a steady pace, driven by demand for affordable suburban housing. Buyers are active, though the market remains sensitive to interest rate fluctuations and local economic conditions.
This ZIP is well-suited for budget-conscious family buyers and commuters seeking proximity to Chicago at a lower price point. It also attracts long-term investors looking for stable rental demand in an established suburban setting.
Median prices moved up 18.8% year over year.
Homes spend a median of 48 days on market with 4.2 months of supply — a fast-moving market.
15% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 8.5% · poverty 17.4% — a mixed stability profile.
Built from 445 recorded sales in the last 24 months against HUD 3-bedroom fair market rents. The location premium is the part of the price that rent, income, education, employment, vacancy, price trend, hazard, lending and flood risk don't explain. It usually reflects amenities, schools and scarcity. It's area context and does not change this ZIP's home value estimates.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 8.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 4.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net outflow — more people moved out than in
ZCTA 60466, Cook County IL
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in Park Forest are generally higher than the national average, with property crime being the most frequently reported issue. Local law enforcement actively monitors trends, and residents are encouraged to utilize community safety programs.
Schools in the area are primarily served by Park Forest-Chicago Heights School District 163 and Rich Township High School District 227, which face ongoing challenges in academic performance metrics compared to state averages.
The area is subject to standard Midwestern climate risks, including severe thunderstorms and occasional flooding in low-lying zones. Property insurance premiums are influenced by regional exposure to wind and hail damage.
Economic momentum is driven by local retail and service sectors, with proximity to the Chicago metropolitan area providing access to broader employment hubs. Infrastructure improvements focus on maintaining existing residential and commercial corridors.
Property taxes in this jurisdiction are determined by the Cook County Assessor's office based on property classification and local tax levies. The area is subject to multiple taxing bodies, including school districts, municipal government, and county services.
Residents primarily commute via personal vehicle, with access to I-57 providing a direct route toward the Chicago employment core. Public transit options include local bus services connecting to Metra commuter rail stations in nearby suburbs.
The area features extensive green space, including the Central Park Wetlands and various community parks. Shopping and dining options are concentrated along the Western Avenue corridor and nearby commercial centers.
The rental market is characterized by steady demand for affordable housing, with a mix of single-family rentals and multi-family complexes. Vacancy rates remain stable, reflecting the area's role as a commuter-accessible residential option.
The local economy is supported by retail, healthcare, and public sector employment. Proximity to the Chicago Southland industrial corridor provides additional job opportunities for residents.
The area is served by a network of local roads and is positioned near major highway arteries. Commuters rely on a combination of driving and regional transit connections to reach the Chicago Loop.
Development planning focuses on infill residential projects and the modernization of existing commercial infrastructure. Local authorities prioritize community-led revitalization initiatives.
Parcels are subject to various special districts, including school districts, library districts, and park districts that provide essential community services.
Property insurance costs are consistent with regional averages for the Chicago metropolitan area, with premiums reflecting exposure to severe weather events.
Data retrieved from Census Reporter and ACS 2024 profiles.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
A significant natural area featuring trails and wildlife observation.
A popular seasonal aquatic facility serving the local community.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.