Cost of Living in Lake Forest, IL
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
292.6
100 = national avg
+192.6 vs national average
Living Wage (1 Adult)
$128,749
per year
Living Wage (Family of 4)
$304,316
per year
Cost Index by Category
Housing337.3
Food200.0
Transportation348.7
Healthcare199.5
Utilities200.0
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,581
per month
2 Bedroom
$1,781
per month
The overall cost of living index in Lake Forest is 292.6, which is 192.6% above the national average. Housing costs are above the national average at an index of 337.3. A single adult needs to earn approximately $128,749 per year to cover basic expenses.