Living in Lake Summerset, Illinois
Cost of living, income, home prices, rent and demographics of Lake Summerset · Census data 2020–2024
Lake Summerset has 2,364 residents with a median age of 45.1. The median household income is $108,355 (30% higher than the Illinois median), the median home value is $237,300, the median rent is $1,318/month.
Lake Summerset at a glance
- Population
- 2,364
- Median age
- 45.1State: 39
- Median household income
- $108,355State: $83,390
- Median home value
- $237,300State: $263,300
- Median rent
- $1,318/moState: $1,274
- Homeowners
- 91.6%
- Bachelor's degree or higher
- 30.5%
- Average commute
- 40 min
Is Lake Summerset a good place to live?
Pros: Median household income 30% higher than the Illinois median; home values 10% lower than the state median; a poverty rate of 3%.
Cons: An average commute of 40 minutes; unemployment of 15.9%.
The weather is best in June to September.
Cost of living in Lake Summerset
Housing is the biggest part of the cost of living. In Lake Summerset the median home value is $237,300, 29% lower than the U.S. median. Renters pay a median of $1,318 per month, which is 9% of household income. Homeowners with a mortgage pay $1,652 a month in housing costs.
Lake Summerset median household income
The median household income in Lake Summerset is $108,355 and the income per person is $48,818. 3% of residents live below the poverty line (Illinois: 11.8%).
Housing in Lake Summerset: homes for sale and rent
- Housing units
- 1,113
- Owner-occupied
- 91.6%
- Renter-occupied
- 8.4%
- Vacant
- 12%Includes seasonal homes
- Median year built
- 1988
- Average household size
- 2.41
Lake Summerset demographics
- Population
- 2,364
- Median age
- 45.1
- Under 18
- 20.3%
- 65 and older
- 34.9%
- Households
- 979
- Foreign-born
- 4.3%
- Veterans
- 11%Adults 18+
Hispanic or Latino can be of any race. Population history of Lake Summerset ›
Education in Lake Summerset
30.5% of adults 25 and older in Lake Summerset have a bachelor's degree or higher (Illinois: 37.8%), and 10.8% have a graduate or professional degree.
Jobs and commute in Lake Summerset
- Unemployment rate
- 15.9%State: 5.8%
- Average commute
- 40 minState: 28 min
- Work from home
- 10.5%
- Drive alone
- 84.3%
- Public transit
- 0%
- Walk to work
- 2%
- Homes with broadband
- 94.6%
Lake Summerset vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Lake Summerset | 2,364 | $108,355 | $237,300 | $1,318 |
| Davis | 535 | $62,050 | $142,700 | $919 |
| Durand | 1,592 | $65,688 | $135,500 | $796 |
| Rock City | 441 | $68,125 | $122,700 | $842 |
| Dakota | 645 | $55,815 | $115,600 | $656 |
| Pecatonica | 2,024 | $73,162 | $143,900 | $1,038 |
| Westlake Village | 1,414 | $116,563 | $239,200 | — |
| Juda | 390 | $64,135 | $159,800 | $1,030 |
| Brodhead | 3,197 | $49,583 | $168,800 | $680 |
More for people moving to Lake Summerset
Lake Summerset ZIP code ›Weather and climate ›Living in Lake Summerset: FAQ
What is the median household income in Lake Summerset, IL?
The median household income in Lake Summerset is $108,355, 30% 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 Lake Summerset?
The median home value in Lake Summerset is $237,300, compared with $263,300 in Illinois.
How much is rent in Lake Summerset?
The median gross rent in Lake Summerset is $1,318 per month, about 9% of household income.
Is Lake Summerset, IL a good place to live?
Pluses: median household income 30% higher than the Illinois median; home values 10% lower than the state median; a poverty rate of 3%. Minuses: an average commute of 40 minutes; unemployment of 15.9%.
What is the median age in Lake Summerset?
The median age in Lake Summerset is 45.1 years (Illinois: 39).
How long is the commute in Lake Summerset?
The average commute to work in Lake Summerset is 40 minutes; 10.5% of workers work from home.
What is the unemployment rate in Lake Summerset?
The unemployment rate in Lake Summerset is 15.9% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Lake Summerset?
30.5% of adults in Lake Summerset 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.
Last updated: