Income & Economy in Lake Forest, IL
Household income, poverty rates, employment, and economic data — 2023 ACS Data
Income Overview
Source: U.S. Census Bureau ACS (2023)Median Household Income
$228,120
+212% vs national
Per Capita Income
$110,436
+197% vs national
Poverty Rate
4.0%
-71% vs national
Gini Index
0.4750
0 = perfect equality
Unemployment
2.1%
-59% vs national
SNAP Recipients
1.2%
of households
How Lake Forest Compares
Source: Census ACS (2023)Lake Forest vs Similar Cities
Source: Census ACS (2023)Compared to cities with 10,000 - 25,000 residents. Lake Forest is highlighted.
Median Household Income
Per Capita Income
Poverty Rate
Unemployment Rate
Where Do You Stack Up?
Enter your household income to see how you compare to other households in Lake Forest. The median household income here is $228,120.
Income Distribution
Source: U.S. Census Bureau ACS (2023)Employment Snapshot
Source: U.S. Census Bureau ACS (2023)Unemployment Rate
2.1%
-62% vs IL avg
Labor Force
8,892
Employed
8,691
How People Get to Work
Source: Census ACS (2023)Employment by Sector
Source: Census ACS (2023)Education & Workforce
Source: U.S. Census Bureau ACS (2023)Bachelor's Degree+
54.6%
of adults 25+
High School Diploma+
57.8%
of adults 25+
Median Age
46.1
Work from Home
27.8%
of workers
The median household income in Lake Forest, IL is $228,120, which is 211.5% above the national average of $73,224. Per capita income is $110,436. The poverty rate of 4.0% is lower than the IL state average of 12.0%. The Gini index of income inequality is 0.4750, where 0 represents perfect equality and 1 represents maximum inequality. The unemployment rate is 2.1%, compared to the state average of 5.6%. 54.6% of adults hold a bachelor's degree or higher.