2026 Compare Cities Economy:
Lake Forest, IL vs Franklin, TN

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Highlights
- Household income in Franklin, is 47% less than it is in Lake Forest and is 33% above the National Average.
- Lake Forest unemployment rate is 6.4%.
- Franklin unemployment rate is 3.1%.
 Lake Forest, ILFranklin, TNUnited States
 Unemployment Rate  Unlock3.1%6.0%
 Recent Job Growth  Unlock2.4%1.6%
 Future Job Growth32.8%  Unlock33.5%
 Sales Taxes7.5%  Unlock6.2%
 Income Taxes  Unlock0.0%4.6%
 Income per Cap.$99,558  Unlock$37,638
 Household Income  Unlock$102,721$69,021
 Family Median Income$224,450  Unlock$85,028
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 Est. Households By Income
 Lake Forest, ILFranklin, TNUnited States
 Income Less Than 15K  Unlock3.5%9.4%
 Income between 15K and 20K1.9%  Unlock3.8%
 Income between 20K and 30K  Unlock4.8%8.1%
 Income between 30K and 40K3.4%  Unlock8.0%
 Income between 40K and 50K  Unlock6.5%7.6%
 Income between 50K and 60K5.0%  Unlock7.2%
 Income between 60K and 75K  Unlock8.3%9.6%
 Income between 75K and 100K6.8%  Unlock12.8%
 Income between 100K and 150K  Unlock20.4%16.3%
 Income between 150K and 200K11.0%  Unlock7.8%
 Income greater than 200K  Unlock18.6%9.5%
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 Population By Occupation
 Lake Forest, ILFranklin, TNUnited States
 Management, business, finance31.0%  Unlock16.4%
 Engineering, computers, science  Unlock10.5%6.5%
 Community, social services1.1%  Unlock1.8%
 Legal  Unlock1.9%1.2%
 Education, library7.1%  Unlock6.2%
 Arts, design, media, sports, entertainment  Unlock3.6%2.0%
 Healthcare practitioners and technology6.2%  Unlock6.2%
 Healthcare support  Unlock1.3%3.3%
 Firefighters, law enforcement0.6%  Unlock2.1%
 Food preparation, serving  Unlock5.3%5.4%
 Building maintenance1.6%  Unlock3.6%
 Personal care  Unlock2.7%2.6%
 Sales, office, administrative support21.2%  Unlock20.9%
 Farming, fishing, forestry  Unlock0.1%0.6%
 Construction, extraction, maintenance/repair0.6%  Unlock8.1%
 Production, transportation, material moving  Unlock4.9%13.1%
Reviews for Lake Forest    4 Reviews

We relocated cross county to Lake Forest about a year ago due to a job change. We looked at nearby communities, within proximity of the work commute (the office is in  More

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Be prepared for a so called upscale town with entitled, overpaid, snooty people from teenagers who sneer at you to adults who look you up and down, who make demands on a  More

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Over 16 years ago

Long cold winters, short cold springs, hot humid summers, nice  More

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Reviews for Franklin    27 Reviews

After visiting here for a week in the summer, I fell in love with the city! Lots of my friends in Florida already moved here from New Port Richey and Wesley Chapel. I  More

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I've lived in Tennessee all my life. I have lived in west,east and middle Tennessee. By far this is the best place I have lived. We have been in Franklin for 8 years. It  More

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I love that this is a greatly diverse community with a large African American and Hispanic community around West Main St./Nachez (I'm addicted to Pueblo Real Mexican  More

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