Lake Forest, IL Real Estate

According to census data in the year 2000 there were 7,016 housing units in Lake Forest. This represents a 14.4% growth from 6,131 in 1990.

Of those housing units, 6,827 were located in either urbanized areas or urban clusters, and 189 were located in what is classified as a rural area.

Homeownership rate in Lake Forest is about 87.2%. Lake Forest's vacancy rate, including seasonal lodging, is about 4.6%. Average household size is 2.77 people.

The majority of houses, apartments or condos in Lake Forest were built after 1968.


Housing Size

Housing Units by Size
Studio Type0.80%
One Bedroom5.20%
Two Bedrooms12.70%
Three Bedrooms24.90%
Four Bedrooms35.20%
Five Bedrooms or more21.30%
As % of Housing Units

Owned Homes, Apartments and Condos

Average Household Size2.89
Median year structure was built1969
Median Value of occupied units$662,400
Median Price asked for vacant units$588,900

Rented Homes, Apartments and Condos

Average Household Size1.98
Median year structure was built1959
Median Monthly Rent asked for vacant units$2,001

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0.90%
Second Mortgage5.10%
Home Equity Loan15.40%
Simple Mortgage52.20%
Debt Free26.40%
As % of Housing Units
Median part of Monthly Household Income dedicated to covering home ownership costs18.8%