Living in Forest Lake, Illinois
Cost of living, income, home prices, rent and demographics of Forest Lake · Census data 2020–2024
Forest Lake has 1,865 residents with a median age of 42.3. The median household income is $96,250 (15% higher than the Illinois median), the median home value is $346,400.
Forest Lake at a glance
- Population
- 1,865
- Median age
- 42.3State: 39
- Median household income
- $96,250State: $83,390
- Median home value
- $346,400State: $263,300
- Homeowners
- 95.5%
- Bachelor's degree or higher
- 48.3%
- Average commute
- 33 min
Is Forest Lake a good place to live?
Pros: Median household income 15% higher than the Illinois median; unemployment of 4.7%; a poverty rate of 4%.
Cons: Home values 32% higher than the state median; an average commute of 33 minutes.
The weather is best in June to September.
Cost of living in Forest Lake
Housing is the biggest part of the cost of living. In Forest Lake the median home value is $346,400, 4% higher than the U.S. median. Renters pay a median of — per month. Homeowners with a mortgage pay $2,075 a month in housing costs.
Forest Lake median household income
The median household income in Forest Lake is $96,250 and the income per person is $43,682. 4% of residents live below the poverty line (Illinois: 11.8%).
Housing in Forest Lake: homes for sale and rent
- Housing units
- 769
- Owner-occupied
- 95.5%
- Renter-occupied
- 4.5%
- Vacant
- 10.7%Includes seasonal homes
- Median year built
- 1995
- Average household size
- 2.71
Forest Lake demographics
- Population
- 1,865
- Median age
- 42.3
- Under 18
- 25.9%
- 65 and older
- 8.1%
- Households
- 687
- Foreign-born
- 41%
- Veterans
- 1.2%Adults 18+
Hispanic or Latino can be of any race. Population history of Forest Lake ›
Education in Forest Lake
48.3% of adults 25 and older in Forest Lake have a bachelor's degree or higher (Illinois: 37.8%), and 14.2% have a graduate or professional degree.
Jobs and commute in Forest Lake
- Unemployment rate
- 4.7%State: 5.8%
- Average commute
- 33 minState: 28 min
- Work from home
- 4.9%
- Drive alone
- 84.1%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 97.4%
Forest Lake vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Forest Lake | 1,865 | $96,250 | $346,400 | — |
| Hawthorn Woods | 9,143 | $219,631 | $619,100 | — |
| Lake Zurich | 19,832 | $135,968 | $435,300 | $1,909 |
| Kildeer | 4,292 | $250,001 | $770,700 | — |
| Long Grove | 8,305 | $250,001 | $804,600 | $3,501 |
| Deer Park | 3,711 | $174,458 | $661,300 | $2,754 |
| North Barrington | 3,143 | $226,055 | $765,900 | $2,679 |
| Indian Creek | 874 | $164,250 | $450,800 | $3,501 |
| Mundelein | 31,915 | $108,340 | $309,700 | $1,566 |
More for people moving to Forest Lake
Forest Lake ZIP code ›Weather and climate ›Living in Forest Lake: FAQ
What is the median household income in Forest Lake, IL?
The median household income in Forest Lake is $96,250, 15% higher than the Illinois median of $83,390 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Forest Lake?
The median home value in Forest Lake is $346,400, compared with $263,300 in Illinois.
Is Forest Lake, IL a good place to live?
Pluses: median household income 15% higher than the Illinois median; unemployment of 4.7%; a poverty rate of 4%. Minuses: home values 32% higher than the state median; an average commute of 33 minutes.
What is the median age in Forest Lake?
The median age in Forest Lake is 42.3 years (Illinois: 39).
How long is the commute in Forest Lake?
The average commute to work in Forest Lake is 33 minutes; 4.9% of workers work from home.
What is the unemployment rate in Forest Lake?
The unemployment rate in Forest Lake is 4.7% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Forest Lake?
48.3% of adults in Forest Lake have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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