Forest Lake, IL is a small city located in Lake County with an estimated population of 12,200 people. It offers its residents a suburban feel with plenty of amenities to enjoy. The average rent for a two bedroom apartment is $1,990 and the grocery cost index is 102, which is higher than the US average of 100. Popular local companies include B&D Railroad Co., Construction Culture LLC., and Farrar Process Solutions Inc. Additionally, Forest Lake has easy access to Chicago meaning that job opportunities are abundant. All in all, Forest Lake is an excellent place to live and work.
Forest Lake has an unemployment rate of 6.4%. The US average is 6.0%.
Forest Lake has seen the job market increase by 2.4% over the last year. Future job growth over the next ten years is predicted to be 32.8%, which is lower than the US average of 33.5%.
Tax Rates for Forest Lake
- The Sales Tax Rate for Forest Lake is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Forest Lake is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Forest Lake
- The average income of a Forest Lake resident is $37,775 a year. The US average is $28,555 a year.
- The Median household income of a Forest Lake resident is $134,821 a year. The US average is $69,021 a year.