Forest Park, Illinois Short-Term Rental Market
Forest Park, IL STRs averaged $184/night at 62.8% occupancy in April 2026, with revenue up 5.9% year-over-year.
Quick Answer: Forest Park, Illinois is an active short-term rental market. average occupancy is 63%. average monthly revenue is $3,159. average daily rate is $184. the top operator is Blueground with 687 listings. market score is 71/100 (grade B).
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Forest Park is a small Chicago suburb in Cook County, approximately 9 miles west of the Loop and accessible directly by the CTA Blue Line, which terminates in the village. It functions as a Chicago gateway destination, drawing visitors connected to the city rather than a standalone tourist base. The STR market is large relative to the village’s population of 13,846: approximately 16,405 active listings by type (entire place: 13,137, private room: 3,231, shared room: 37), which reflects the area’s position within the broader Chicago metro STR market.
The bedroom mix skews toward smaller units: 1-bedroom listings account for 6,932 (about 42.4% of bedroom-classified supply), followed by 2-bedroom at 4,281. The channel mix is heavily Airbnb-weighted: 9,843 listings are Airbnb-only, 5,761 are on both platforms, and only 801 are VRBO-only. In April 2026, the average daily rate was $184.32 and occupancy was 62.75%, producing a RevPAR of $115.66. Year-over-year, occupancy rose 3.4%, ADR rose a nominal 0.15%, and revenue grew 5.9%. The total market score is 71.1 out of 100, with rental demand (84.9) the strongest sub-score, reflecting steady Chicago-driven traffic.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 48% | $113 | $1,613 |
| Feb | 56% | $114 | $1,624 |
| Mar | 62% | $135 | $2,234 |
| Apr | 61% | $141 | $2,348 |
| May | 69% | $161 | $2,950 |
| Jun | 72% | $182 | $3,505 |
| Jul | 72% | $174 | $3,480 |
| Aug | 68% | $176 | $3,341 |
| Sep | 66% | $162 | $2,907 |
| Oct | 64% | $158 | $2,826 |
| Nov | 56% | $142 | $2,264 |
| Dec | 55% | $133 | $2,072 |
Top Short-Term Rental Operators in Forest Park
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Blueground | 687 | 290 | ★ 4.40 |
| 2 | Luxury Lili Stays | 189 | 9,757 | ★ 4.64 |
| 3 | Kasa Properties | 156 | 7,826 | ★ 4.71 |
| 4 | Slumber Stay | 137 | 7,814 | ★ 4.53 |
| 5 | Evolve | 127 | 2,763 | ★ 4.36 |
What Kind of STR Should I Buy in Forest Park?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 6,932 |
| 2 bed | 4,281 |
| 3 bed | 3,004 |
| 4 bed | 1,410 |
| 5 bed | 727 |
ADR by Property Tier
| Entire Home | $213 |
| Luxury | $385 |
| Professionally Managed | $228 |
Revenue by Dwelling Type
| Apartment | $3,172 |
| Entire Place | $3,607 |
| House | $3,157 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 60% |
| vrbo | 4.9% |
| both | 35.1% |
Investment Analysis
No housing price data was available for Forest Park at the time of this report, so a gross yield estimate cannot be calculated. Investors should source current home values independently.
The 2025 annual average monthly revenue was $3,417, implying an annualized run rate of approximately $41,004 at the average listing level. Revenue has grown steadily: from $2,951 in 2023 to $3,365 in 2024 to $3,417 in 2025, representing about 15.8% growth over two years. The June 2026 ADR year-over-year growth is minimal at 0.15%, suggesting the market is volume-driven rather than rate-driven in recent months.
Tier differentiation is present but moderate. The luxury tier averaged $385.42/night, more than double the market average of $184.32. Professionally managed listings averaged $227.50/night, 23.4% above the market average. Entire-home listings averaged $213.32/night. Revenue by property type is unusual in this market: apartment-style units averaged $3,172 per month in April, essentially matching houses at $3,157, while entire-place listings averaged $3,607. The regulatory environment adds investment risk: no local STR ordinance exists currently but regulatory changes are actively under discussion, and investors should factor potential future permitting requirements into their analysis.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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In April 2026, Forest Park’s average booking lead time was 35.3 days, roughly five weeks in advance. This is the shortest lead time in the current batch and consistent with the market’s proximity to Chicago: travelers booking a Chicago-area trip often make shorter-term decisions, particularly for business travel and weekend getaways from within the Midwest.
The average length of stay is 4.64 nights, reflecting a mix of multi-night leisure stays and potentially some extended-work or temporary-housing demand in the metro area. At just under five nights per booking, turnover frequency is moderate. Operators who price dynamically in the 30-to-45-day advance booking window are best positioned to capture demand at this lead time. The short booking window means fewer opportunities for far-in-advance premium pricing and more reliance on accurate real-time pricing.
Short-Term Rental Regulations
As of mid-2026, Forest Park has no short-term-rental-specific ordinance. STRs have never been formally regulated in the village code. There is no local permit, license, registration requirement, owner-occupancy rule, night cap, or STR-specific zoning rule currently in effect. Enforcement is limited to the general nuisance ordinance: a property can be declared a nuisance if police are called there six times within six months.
However, the regulatory environment is changing. In spring 2026, residents petitioned the village for restrictions including a 500-foot buffer zone around schools and a 30-day maximum occupancy limit per year. No ordinance has been adopted as of the profile research date, but village legal staff is actively reviewing options. Investors should monitor village council agendas as a local framework is likely to emerge.
At the state level, Illinois extended its Hotel Operators’ Occupation Tax to short-term rentals, effective July 1, 2025. The tax is approximately 6% of 94% of gross receipts (roughly a 5.6% effective rate). As of January 6, 2026, marketplaces including Airbnb and VRBO are required to collect and remit this Illinois lodging tax on the host’s behalf, simplifying compliance for operators. Forest Park has no documented separate local STR lodging tax as of this report.
Market Comparison
At 62.75% occupancy in April 2026, Forest Park is above the US STR median of approximately 55%, reflecting the steady metro demand from Chicago visitors. The April ADR of $184.32 is below the US median of approximately $220, consistent with a suburban market competing on value relative to in-city Chicago STRs. The 2025 annual average occupancy of 62.8% is well above the national median, the strongest occupancy figure among this batch of five markets.
The operator landscape features several Chicago-metro specialists. Blueground leads with 687 listings and 290 reviews (4.40 average rating), followed by Luxury Lili Stays with 189 listings and 9,757 reviews (4.64 rating), and Kasa Properties with 156 listings and 7,826 reviews (4.71 rating). Together these three account for 1,032 listings out of approximately 16,405 total by listing type, or about 6.3% of the market. Blueground’s model (687 listings, only 290 reviews) indicates a corporate/extended-stay focus with fewer Airbnb-style short bookings.
Frequently Asked Questions About Forest Park, Illinois
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