Lake Forest, IL is an affluent Chicago suburb located in Lake County with a population of 19,375. According to recent surveys, the 2 Bedroom Rent in the area is $2,100 which is slightly higher than the average US rent of $1,430. The Grocery Cost Index for Lake Forest is 108 versus 100 in the US overall.
The city has many desirable amenities such as a number of highly rated restaurants like Michael’s Chicago Style Red Hots and National Louis University. Shopping centers include Deerpath Commons Shopping Center and Market Square with stores ranging from Gap to Pottery Barn. Businesses in the town include a local hospital called Northwestern Medicine Lake Forest Hospital providing quality medical services at reasonable rates. Additionally, there are many small businesses in the city such as C & S Electric Co., Inc., offering electrical services at competitive prices.
Lake Forest (zip 60045) has an unemployment rate of 6.4%. The US average is 6.0%.
Lake Forest (zip 60045) has seen the job market decrease by -7.7% 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 Lake Forest (zip 60045)
- The Sales Tax Rate for Lake Forest (zip 60045) is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Lake Forest (zip 60045) 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 Lake Forest (zip 60045)
- The average income of a Lake Forest (zip 60045) resident is $98,187 a year. The US average is $37,638 a year.
- The Median household income of a Lake Forest (zip 60045) resident is $194,462 a year. The US average is $69,021 a year.