Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Lake Forest area can be challenging. Home prices in Lake Forest are now at a median cost of $873,137, higher than the Illinois average of $242,002.
The average cost of rent is $2,065/mo in Lake Forest, primarily driven by the current value of real estate in the Lake Forest area. While nearly 37.68% of residents own their homes outright in Lake Forest, 13.21% rent.
Housing affordability isn’t just about home prices, though. The average household income in Lake Forest is $16,422 per month. Households that rent pay about 12.57% of their income on rent here. Lake Forest's most expensive areas are in the southwestern regions, while the cheapest areas are in the southeastern parts of the city.
Nearby Cities
- Highwood, IL: less expensive homes
- Bannockburn, IL: equally priced homes
- Lake Bluff, IL: less expensive homes
- Mettawa, IL: less expensive homes
- Highland Park, IL: less expensive homes
- Lincolnshire, IL: less expensive homes
- Great Lakes, IL: less expensive homes
- Deerfield, IL: less expensive homes
- Riverwoods, IL: less expensive homes
- Green Oaks, IL: less expensive homes
Cities with Similar Populations
- Mill Valley, CA: higher priced homes
- Mukwonago, WI: less expensive homes
- Mount Pleasant, TX: less expensive homes
- Mount Joy, PA: less expensive homes
- Morton, IL: less expensive homes
- Morris, IL: less expensive homes
- Moraga, CA: higher priced homes
- Monticello, MN: less expensive homes
- Monroe, CT: less expensive homes
- Mineral Wells, TX: less expensive homes
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