Housing costs in Lake Forest?
A typical home costs
$898,600, which is 165.8% more expensive than the national average of
$338,100 and 271.8% more expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Lake Forest costs
$2,160 per month, which is 51.0% more than the national average of
$1,430 and 41.7% more than the state average of
$1,260.
Can I afford Lake Forest?
To live comfortably in Lake Forest, Illinois, a minimum annual income of
$172,080 for a family, and
$75,200 for a single person is recommended.
What does A.I. say about Lake Forest?
Lake Forest, IL is a great place to live with an overall cost of living that is slightly above the national average. As of 2019, the median household income was $151,824, and the median home value was $525,653. Despite these high costs associated with housing in the area, there are plenty of amenities to take advantage of that make life in Lake Forest very appealing. With low taxes and excellent schools, Lake Forest offers its residents access to high quality services at a reasonable cost. Additionally, many employers in the area offer generous benefits packages to help offset some of the higher living expenses.