Home Insurance in Park Forest, Illinois
The median home value in Park Forest is $115,300, 64% lower than the Cook County median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The typical home in Park Forest was built around 1958. About 59% of homes were built before 1960, about 11 points above Cook County's 49%.
In Park Forest, the housing stock is 85% single-family homes and 11% apartments in buildings with 5+ units.
48% of owner-occupied homes in Park Forest carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 8%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 66% of occupied homes in Park Forest are owner-occupied.
In Park Forest, 90% of homes are primarily heated with natural gas.
What's the biggest home insurance risk near Park Forest? FEMA's National Risk Index points to winter weather (Very High) in Cook County and Cook County had 11,554 active NFIP flood policies as of September 2026. See the full Cook County home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Illinois carries a statewide average premium of $1,480 per year.
Key figures
| Median home value | $115,300 |
|---|---|
| Median year built | 1958 |
| Owner-occupied share | 66% |
| Share of owner-occupied homes with a mortgage | 48% |
| Top county hazard | Winter Weather (Very High) |
| Active NFIP policies in Cook County | 11,554 |
| Home insurance premium | $1,480 - statewide average (NAIC, 2023 data) |
Nearby towns
- South Chicago Heights
- University Park
- Olympia Fields
- Richton Park
- Chicago Heights
- Matteson
- Steger
- Flossmoor
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)