Housing costs in Forest Lake?
A typical home costs
$347,200, which is 2.7% more expensive than the national average of
$338,100 and 43.6% more expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Forest Lake costs
$1,990 per month, which is 39.2% more than the national average of
$1,430 and 36.7% more than the state average of
$1,260.
Can I afford Forest Lake?
To live comfortably in Forest Lake, Illinois, a minimum annual income of
$66,600 for a family, and
$69,600 for a single person is recommended.
What does A.I. say about Forest Lake?
The cost of living in Forest Lake, IL is relatively affordable. Housing costs are below the national average and the cost of groceries is also lower than most other areas in Illinois. The unemployment rate is low in Forest Lake, which helps to keep prices competitive. In addition, there are plenty of job opportunities available, making it easy for locals to find employment and increase their quality of life. The area also offers a great public transportation system, making it easy to get around without having to own a car. All these factors contribute to an overall lower cost of living that residents enjoy year-round.