River Forest, IL

Very High · 159

Illinois · Population 11,489 · Updated March 2026

$1,411
Median Rent / Month
$148,711
Median Income
$676,900
Median Home Value
$2,515
Owner Costs / Month

Affordability

How far your income goes in River Forest

11.4%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Illinois

State-level tax rates that affect your costs

4.95%
Income Tax (Top Rate)
6.25%
Sales Tax
2.07%
Property Tax Rate

Estimated Annual Costs

$16,932
Annual Rent
$7,361
State Income Tax
$14,012
Property Tax (est.)

Cost of Living Overview

River Forest has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 159 (where 100 equals the national median), River Forest residents can expect to pay median rent of $1,411/month while earning a median household income of $148,711/year.

The median home value in River Forest, IL is $676,900, with typical monthly owner costs around $2,515 including mortgage, insurance, and taxes. The median rent-to-income ratio of 11.4% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Illinois has a moderate income tax rate of 4.95%. Combined with a 6.25% sales tax rate and 2.07% effective property tax rate, the overall tax environment is a factor in the total cost of living in River Forest.

Frequently Asked Questions

Common questions about living costs in River Forest

What is the cost of living in River Forest, IL?
The cost of living index in River Forest, IL is 159 (US average = 100). Median monthly rent is $1,411, median household income is $148,711/year, and the median home value is $676,900.
Is River Forest, IL affordable?
No, River Forest is more expensive than the national average with a cost index of 159. The rent-to-income ratio is 11.4%—below the 30%% threshold considered affordable by HUD.
What is the average rent in River Forest, IL?
The median gross rent in River Forest, IL is $1,411 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $16,932.
What is the median household income in River Forest?
The median household income in River Forest, IL is $148,711 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Illinois?
Illinois has a top income tax rate of 4.95%, a sales tax of 6.25%, and an effective property tax rate of 2.07%.