Last Updated on: 8th February 2025, 11:54 am
Is Lake Forest a good place to live? Considering it sits a half-hour outside of Chicago, is wealthy ($228,120 median household income), and boasts beautiful Lake Michigan views, we’d say living in Lake Forest IL is quite good. Lake Forest, IL, dates back to the 1800s when Potawatomi people were its first inhabitants. It was one of the first affluent Chicago suburbs, and it has been the home of countless historical figures and wealthy individuals, such as Lisel Mueller, David Adler, and Edward H. Bennett.
Commonly referred to as Forester, after the city’s college, Lake Forest has more to offer than sprawling mansions. This affluent city is home to many retired individuals and older families, providing a tight-knit feel you can’t get in just any city. If you’re looking for a safe community and have the money to spend, this may be the perfect small town for you.
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Is Lake Forest IL a Good Place to Live?
Lake Forest is a great place to live, thanks to its tight-knit community, good schools, lakefront locations, and proximity to Chicago. Lake Forest is ranked 2nd in the US for the best urban and suburban amenities.
Where Is Lake Forest?
What county is Lake Forest IL in? Lake Forest is located in Lake County, Illinois, in Shields Township, east of Lake Michigan, within the Chicago metropolitan area and the North Shore.
Other cities near Lake Forest are Chicago, Highland Park, and Glencoe.
How Far Is Lake Forest from Chicago?
It’s 33 miles, or 54 minutes, from Lake Forest to Chicago. Lake Forest is part of the Chicago Metropolitan Area, making it a notable Chicago suburb.
If moving to Lake Forest IL is in your future, you want top Lake Forest IL movers on your side. A reliable Lake Forest moving company is hard to find, but Federal Companies is here to answer your call.
Lake Forest IL Public Transportation – How Far is Lake Forest From Chicago by Train?
Metra (express train), Pace, Ride Lake County, and local taxi companies are the local transportation options available for those living in Lake Forest. You can take the Metra’s MD-NFox Lake line from Lake Forest to Chicago, which has a travel time of about 55 minutes.
What Is the Population of Lake Forest?
The Lake Forest population is 19,367, according to the 2020 census, and was 19,375 in the 2010 census.
Additional Lake Forest Demographics
Is Lake Forest Illinois a good place to live if you seek diversity? The median age in Lake Forest is 44.9, which is 20% higher than that of the Chicago-Naperville-Elgin, IL-IN Metro Area. The poverty rate is incredibly low at 4%, whereas the US poverty rate is 11.1%. The racial demographics of Lake Forest are 84.6% White (82.4% White non-Hispanic or Latino), 6.8% two or more races, 6.1% Asian, 4.7% Hispanic, 0.9% Black or African American, and 0.2% American Indian or Alaska Native.
Lake Forest has a high median household income and many affluent residents. The richest people in Lake Forest Illinois are Elizabeth Uihlein and Richard Uihlein, who have a 3.8 billion dollar net worth.
The sex ratio here is 52 females to 48 males, and 57% of the population is married. Of the 7,413 households, 87% are owner-occupied, making renting here uncommon. The population is very educated, with 98.8% having their high school diplomas and 80.3% having their bachelor’s degrees or higher. 43% of Forest residents possess post-grad degrees.
- Question: What is the average household income in Lake Forest Illinois?
- Answer: According to World Population Review, the average household income in Lake Forest is $284,784.
Who Lives in Lake Forest?
Many notable residents live in Lake Forest, including a few Chicago Bears players. Other famous people from Lake Forest are Andrew Watson Armour III, Andrew Bird, and Rene Romero Schuler.
Is Lake Forest Illinois Safe? Is Lake Forest a Good Place to Live When Considering Its Crime Rate?
According to the FBI, Lake Forest Illinois is a very safe place to live, boasting a crime rate 65.1% lower than the state and 70.4% lower than the country.
- Lake Forest crime rate per 100,000 people: 687
- Illinois crime rate per 100,000 people: 1,970
- US crime rate per 100,00 people: 2,324
Lake Forest’s violent crime rate follows the same trend and is 94.4% lower than the state
95.7% lower than the country.
- Lake Forest violent crime rate per 100,000 people: 16
- Illinois violent crime rate per 100,000 people: 287
- US violent crime rate per 100,000 people: 370
Lake Forest barely experiences any property crime, as there is only a 1 in 149 chance you will be affected by property crime while living in Lake Forest.
- Lake Forest property crime rate per 100,000 people: 672
- Illinois property crime rate per 100,000 people: 1,683
- US property crime rate per 100,000 people: 1,954
How safe is Lake Forest? This suburb is very safe; in fact, it’s safer than 70.4% of all other US cities. If you ever do need a helping hand, the Lake Forest Police Department has 33 reliable officers protecting its citizens.
What Is the Cost of Living in Lake Forest IL? – Is Lake Forest a Wealthy Area?
Forest Lake has a Cost of Living Index (COLI) of 129, making it 29% more expensive to live here than the average US city. Is Lake Forest a good place to live on a budget? Is Lake Forest a good place to live on a budget? Lake Forest isn’t very affordable—it was ranked the 8th-most expensive Illinois city.
However, when compared to neighboring communities, you’ll find that Lake Forest isn’t entirely out of reach.
- Chicago Cost of Living Index: 124
- Evanston Cost of Living Index: 133
Typical Lake Forest living expenses:
- Inexpensive restaurant meal: $25.00
- Gallon of milk: $3.77
- Dozen eggs: $3.85
- Loaf of white bread: $3.70
- Pound of white rice: $2.62
- Lake Forest property taxes: 1.94% median tax rate
- Average Lake Forest utilities per month: $321 (per Doxo)
Source: Numbeo
*The above statistics are for Chicago, meaning prices in Lake Forest may differ.
According to the Economic Policy Institute, a family of four would have to earn a household income of $114,642 to live comfortably in Lake County, Illinois.
Why Is Forest Lake IL So Expensive? – Forest Lake Housing Marketing Overview
Is Forest Lake a good place to live and buy a house? If you have a steep budget, then yes, Forest Lake homes for sale are a great investment. According to Rocket Mortgage, the median home value in Lake Forest is $1,049,000, and the average price per square foot here is $340.
The homeownership rate in Lake Forest is 86.7%, and those renting here pay a pretty penny. The average rent in Lake Forest per month is $4,373 for a 1,238 square-foot-rental.
Thankfully, everything else in Lake Forest is fairly affordable. Though you’ll pay about 8% more for groceries, you’ll actually pay 6% less for utilities and 6.3% less than the national average for transportation. Still, overall, Lake Forest ranks about 70% more expensive than the national average.
Lake Forest, IL Neighborhoods
Is Lake Forest a good place to live if you seek a quaint neighborhood? Those migrating to Lake Forest won’t find many neighborhoods. The city is mostly broken up into four communities: East Lake Forest, South Lake Forest, West Lake Forest, and North Lake Forest. All of them have their pros and cons.
East Lake Forest is considered to be one of the most desirable Lake Forest neighborhoods because it’s close to Lake Forest restaurants and the downtown area. Many of the homes have been established for quite some time, and they boast historic architecture. South Lake Forest has homes usually in the $1,000,000+ range and are the mansions the city is known for.
Don’t count out West Lake Forest, which is a new development. Plenty of land is out there, and many people are buying and building their dream homes, so expect some construction. North Lake Forest has some more affordable housing, and many of the homes in this area are a bit older.
Lake Forest Weather & Climate
When living in Lake Forest IL you can expect chilly weather in the winter and humid warm weather in the summer. The average temperature in Lake Forest ranges from highs of 33°F to 84°F to lows of 15°F to 57°F. You can expect a small amount of rain each month. The rainiest month in Lake Forest is April and June, which each have an average of 10 days of rain. Is Lake Forest a good place to live, considering its climate?
Weather Lake Forest is enjoyable most of the year, but the best time to visit is in late June to mid-September. The summer provides a warm climate to explore the area’s outdoor attractions, and the fall foliage is a must-see.
Things to Do in Lake Forest IL
Looking for the top things to do in Lake Forest? Whether you need family-friendly attractions, entertainment options, or free activities, check out the most fun things to do in Lake Forest.
Forest Park
Ready to feel like you’re in another state? Forest Park is a free park in Lake Forest that’s home to a sandy beach, walking trails, and beautiful scenery. You can walk along the shore and enjoy the lovely Illinois breeze. It’s a favorite of the locals, but be sure to dress appropriately for the weather! It can be fairly breezy and cold, especially in the winter months. Forest Park is certainly one of the top things to do in Lake Forest Illinois.
801 N Lake Rd, Lake Forest, IL 60045, (847) 234-2600
Middlefork Savanna Forest Preserve
Looking for fun things to do with kids in Lake Forest IL? The Middlefork Savanna Forest Preserve is the place to go! With over 670 acres to explore, there are animals of all types. It’s a protection center and biological training center, so many of the animals are rehabbed. Your older kids can learn about the different species, and young toddlers will like looking at the different animals. They work solely off of donations, so though there isn’t an admission cost, they ask you to donate when possible.
1401 Middlefork Dr, Lake Forest, IL 60045, (847) 810-3663
Is Lake Forest a good place to live if you’re an avid shopper? This small town provides some very convenient shopping, including Market Square and Sunset Corners Shopping Center. Not to mention, Chicago’s luxurious retail options are a short drive away.
From local events to bike trails and more, there is plenty to do in this special place you may call home.
Places to Stay
If you’re looking for somewhere to stay while visiting your potential new home, consider the Deer Path Inn, a lovely hotel in Lake Forest.
Lake Forest Restaurants
Is Lake Forest a good place to live and eat out? Check out these top-rated restaurants in Lake Forest IL.
The Lantern of Lake Forest
With regular live music, this Lake Forest eatery is one of the best places to go for date night. Delicious burgers and beers round out their menu, and with over 400 positive reviews on Google alone, it’s clear this is the place to go for a night out.
768 N Western Ave, Lake Forest, IL 60045, (847) 234-9844
Egg Harbor Cafe
If you’re looking for one of the top restaurants Lake Forest, you can’t miss out on this local favorite. A delightful Lake Forest cafe, you can choose from savory choices, like eggs and sausage, or sweet delights, like pastries and french toast. It’s a family-friendly Lake Forest restaurant that you’ll want to add to your list.
512 N Western Ave, Lake Forest, IL 60045, (847) 295-3449
Lake Forest Jobs – Is Lake Forest a Good Place to Live for Professionals?
There are thousands of jobs in Lake Forest, but some popular occupations in Lake Forest are IT managers, principal software engineers, business development specialists, and senior financial analysts. There are 1,200 local businesses in Lake Forest, with the United States Postal Service, McDonald’s, Northwestern Medicine Lake Forest Hospital, Target, and JPMorgan Chase & Co being major employers. If you work in the public sector or are interested in breaking into this industry, City of Lake Forest jobs are a great option.
Lake Forest Illinois provides easy access and a short commute to Chicago’s large job market, making it popular among business professionals. According to the US Bureau of Labor & Statistics, the median hourly wage in the Chicago-Naperville-Elgin, IL-IN-WI area is $23.94, and the mean hourly wage is $33.41.
Lake Forest IL Schools
Lake Forest is part of the Lake Forest School District. The majority of Lake Forest residents are older individuals; according to the city’s age demographics, many of the children are teenagers—15% of residents are between 10 and 19 years old, whereas 9% are 9 years old and younger.
The most popular Lake Forest school is Lake Forest High School, which is known for its high test scores and low student-to-teacher ratio. Lake Forest High School boasts the highest ELA score in its district. Private schools in Lake Forest include Lake Forest Academy, Woodlands Academy of the Sacred Heart, and Lake Forest Country Day School.
Where Is Lake Forest College?
Lake Forest College is located in the city’s heart and is a notable higher education option in the area. Lake Forest Graduate School of Management is another great option.
Living in Lake Forest IL FAQ
Why Is Lake Forest IL So Expensive?
Its costly housing market, low crime rate, and highly-rated schools likely contribute to its high cost of living.
Which Illinois County Has the Highest Property Taxes?
Lake, DuPage, and Kendall counties have the highest property taxes in Illinois.
Is Lake Forest IL a Wealthy Suburb?
Yes, Lake Forest is one of the wealthiest suburbs in America.
Lake Forest Map
Explore of the community with this map of Lake Forest.
Lake Forest Statistics and Information – What Is the Zip Code for Lake Forest?
- Lake Forest County: Lake County
- Lake Forest area: 17.27 square miles
- Lake Forest zip code: 60045
- Lake Forest area code: 847, 224
- Lake Forest elevation: 689 feet
- Lake Forest time zone: Central Time Zone (UTC-5 and -6)
- Closest airport to Lake Forest: Chicago O’Hare International Airport is 23.7 miles from Lake Forest
Moving to Lake Forest With Federal Companies
Is Lake Forest a good place to live? Yes, Lake Forest offers natural beauty, a strong community spirit, great schools, and a nice quality of life. Living in Lake Forest is very nice; it’s an affluent community with a low crime rate and a friendly atmosphere.
If you’re ready to call Lake Forest home, it’s time to contact us. At Federal Companies, we have the best Lake Forest movers. We’ll get you into your brand-new home without the stress! Give us a call at (800) 747-4100 or fill out the form to get a free quote today.
