Living in Lakewood, Illinois
Cost of living, income, home prices, rent and demographics of Lakewood · Census data 2020–2024
Lakewood has 4,707 residents with a median age of 42.9. The median household income is $173,625 (108% higher than the Illinois median), the median home value is $552,600.
Lakewood at a glance
- Population
- 4,707
- Median age
- 42.9State: 39
- Median household income
- $173,625State: $83,390
- Median home value
- $552,600State: $263,300
- Homeowners
- 96.7%
- Bachelor's degree or higher
- 61.3%
- Average commute
- 28 min
Is Lakewood a good place to live?
Pros: Median household income 108% higher than the Illinois median; an average commute of 28 minutes; unemployment of 1.4%; a poverty rate of 3.5%.
Cons: Home values 110% higher than the state median.
The weather is best in June to September.
Cost of living in Lakewood
Housing is the biggest part of the cost of living. In Lakewood the median home value is $552,600, 66% higher than the U.S. median. Renters pay a median of — per month. Homeowners with a mortgage pay $3,300 a month in housing costs.
Lakewood median household income
The median household income in Lakewood is $173,625 and the income per person is $79,413. 3.5% of residents live below the poverty line (Illinois: 11.8%).
Housing in Lakewood: homes for sale and rent
- Housing units
- 1,641
- Owner-occupied
- 96.7%
- Renter-occupied
- 3.3%
- Vacant
- 3.4%Includes seasonal homes
- Median year built
- 1999
- Average household size
- 2.97
Lakewood demographics
- Population
- 4,707
- Median age
- 42.9
- Under 18
- 29.1%
- 65 and older
- 12.2%
- Households
- 1,585
- Foreign-born
- 14%
- Veterans
- 4.2%Adults 18+
Hispanic or Latino can be of any race. Population history of Lakewood ›
Education in Lakewood
61.3% of adults 25 and older in Lakewood have a bachelor's degree or higher (Illinois: 37.8%), and 24.8% have a graduate or professional degree.
Jobs and commute in Lakewood
- Unemployment rate
- 1.4%State: 5.8%
- Average commute
- 28 minState: 28 min
- Work from home
- 26.1%
- Drive alone
- 68.3%
- Public transit
- 3.9%
- Walk to work
- 0%
- Homes with broadband
- 98.5%
Lakewood vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Lakewood | 4,707 | $173,625 | $552,600 | — |
| Crystal Lake | 40,579 | $108,418 | $311,400 | $1,468 |
| Lake in the Hills | 28,800 | $117,151 | $321,900 | $1,689 |
| Huntley | 28,005 | $88,536 | $334,300 | $1,622 |
| Algonquin | 30,067 | $134,525 | $351,000 | $1,723 |
| Woodstock | 26,147 | $82,758 | $245,700 | $1,212 |
| Prairie Grove | 2,165 | $141,389 | $467,600 | $1,917 |
| Bull Valley | 1,269 | $191,250 | $477,900 | $3,501 |
| Cary | 17,923 | $113,026 | $309,800 | $1,428 |
More for people moving to Lakewood
Lakewood ZIP code ›Weather and climate ›Living in Lakewood: FAQ
What is the median household income in Lakewood, IL?
The median household income in Lakewood is $173,625, 108% 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 Lakewood?
The median home value in Lakewood is $552,600, compared with $263,300 in Illinois.
Is Lakewood, IL a good place to live?
Pluses: median household income 108% higher than the Illinois median; an average commute of 28 minutes; unemployment of 1.4%; a poverty rate of 3.5%. Minuses: home values 110% higher than the state median.
What is the median age in Lakewood?
The median age in Lakewood is 42.9 years (Illinois: 39).
How long is the commute in Lakewood?
The average commute to work in Lakewood is 28 minutes; 26.1% of workers work from home.
What is the unemployment rate in Lakewood?
The unemployment rate in Lakewood is 1.4% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Lakewood?
61.3% of adults in Lakewood 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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