In Lake Forest, a typical home is worth $938,300 and typical rent is $1,815 a month. Compared with all of Lake County, the typical home value is 171% higher, typical household income is 113% higher, and the share of households that own their home is 14 points higher.
Typical home value from Zillow, September 2021 to September 2026: from $862,431 to $1,264,926.
Typical rent
$3,952a month
From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
Lake Forest is in Lake County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Lake County. See the county
What this place has that others do not, from public data, most unusual first.
1
Lake Forest has the 4th highest typical home value of the 336 cities in Illinois with more than 5,000 people ($938,300).
2
The typical household income in Lake Forest is $235,081,113% more than in Lake County as a whole ($110,416).
3
Nearby, in Highwood, the typical home value is $405,400: 57% less than in Lake Forest ($938,300).
4
According to Zillow, in the 12 months to September 2026 the typical home value in Lake Forest rose 11.2%; in Illinois, it rose 5.3%.
5
89% of households in Lake Forest own their home, against 75% in Lake County.
6
The typical rent in Lake Forest is $1,815 a month, 23% more than in Lake County as a whole ($1,477).
Sources: U.S. Census Bureau (Average 2020–2024); Zillow (September 2026 data). Zillow data
The homes here
Housing in Lake Forest
What homes there are in Lake Forest, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Lake Forest
Lake County
Illinois
United States
Kind of home: Lake Forest and its comparisons
Measure
Lake Forest
Lake County
Illinois
United States
Detached house
77%
67%
58%
61%
Attached house
7%
10%
6%
6%
Building of 2 to 4
4%
6%
12%
8%
Apartments (5 or more)
Unreliable estimate
16%
22%
19%
Mobile home
Unreliable estimate
2%
2%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
In Lake Forest, 8 in 10 homes are single-family detached houses; in Lake County, 7.
Year built
Before 19601960–19791980–19992000–20092010 or laterUnreliable estimate
Lake Forest
Lake County
Illinois
United States
Year built: Lake Forest and its comparisons
Measure
Lake Forest
Lake County
Illinois
United States
Before 1960
31%
21%
38%
26%
1960–1979
23%
25%
26%
24%
1980–1999
27%
33%
20%
25%
2000–2009
12%
15%
11%
14%
2010 or later
Unreliable estimate
6%
6%
11%
The typical home in Lake Forest was built in 1976, 7 years before the typical one in Lake County.
In Lake Forest, 82% of homes have 3 bedrooms or more, more than in Lake County (68%).
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100KUnreliable
$100K–$200KUnreliable
$200K–$300KUnreliable
$300K–$500K11%
$500K–$750K13%
$750K–$1M27%
$1M or more43%
Value of owner-occupied homes: Lake Forest and its comparisons
Measure
Lake Forest
Under $100K
Unreliable estimate
$100K–$200K
Unreliable estimate
$200K–$300K
Unreliable estimate
$300K–$500K
11%
$500K–$750K
13%
$750K–$1M
27%
$1M or more
43%
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$999Unreliable
$1,000–$1,49921%
$1,500–$1,999Unreliable
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or more24%
Monthly rent with utilities: Lake Forest and its comparisons
Measure
Lake Forest
Under $500
Unreliable
$500–$999
Unreliable estimate
$1,000–$1,499
21%
$1,500–$1,999
Unreliable estimate
$2,000–$2,499
Unreliable estimate
$2,500–$2,999
Unreliable estimate
$3,000 or more
24%
Owners with a mortgage
56%
Lake County: 64%
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Lake Forest+11%
Lake County+30%
Illinois+35%
United States+53%
Typical rent
Lake ForestNo clear change
Lake County+23%
Illinois+26%
United States+33%
Typical household income
Lake Forest+37%
Lake County+24%
Illinois+27%
United States+29%
Change since 2015–2019: Lake Forest and its comparisons
Measure
Lake Forest
Lake County
Illinois
United States
Typical home value
+11%
+30%
+35%
+53%
Typical rent
No clear change
+23%
+26%
+33%
Typical household income
+37%
+24%
+27%
+29%
From 2015–2019 to 2020–2024, the typical home value in Lake Forest rose 11%; in Lake County, it rose 30%.
The typical rent in Lake Forest stayed about the same over that time: the difference is within the Census margin of error.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Lake Forest and its comparisons
Measure
Lake Forest
Lake County
Illinois
United States
Rental vacancy
Unreliable estimate
3.7%
5.0%
5.5%
Homeowner vacancy
Unreliable estimate
0.9%
1.0%
0.9%
More than one person per room
Unreliable estimate
2.9%
2.5%
3.4%
People per household
2.63
2.69
2.46
2.53
Drive alone
46%
66%
66%
69%
Carpool
2%
9%
8%
9%
Public transit
Unreliable estimate
3%
6%
3%
Walk or bike
6%
2%
3%
3%
Work from home
30%
20%
16%
15%
Other means
Unreliable estimate
1%
1%
2%
Typical commute
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
A household in Lake Forest has 2.63 people on average, about the same as in Lake County (2.69).
Working from home is more common in Lake Forest: 30%, against 20% in Lake County.
Do the math
What would you pay each month for a home in Lake Forest?
A typical home costs more than the typical income allows
We start with a typical home in Lake Forest, worth $938,300, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 41% of the typical household income in Lake Forest, which is $235,081 a year. For that payment to be 28% of income, a household would need to earn about $344,347 a year. Note: at that price the loan is above the FHA limit for Lake County ($541,287), so FHA would not insure it; the payment is only a reference.
The calculator's FHA and conventional loan limits are those of all of Lake County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Lake Forest. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $32,841 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$8,035
at 7.18% · 30 years
Loan amount
$921,305
Total interest
$1,325,541
Paid off in
November 2056
Includes $15,846 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $5,485 a month
Tight
$5,485 to $7,052 a month
Hard
more than $7,052 a month
Your payment · 41%
Compared with the typical household income in Lake Forest ($235,081 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$6,241
Property tax
$837
Home insurance
$391
FHA mortgage insurance (MIP)
$566
This loan is over the FHA limit
You'd borrow $905,459, but the FHA limit for a one-unit home in Lake Forest is $541,287. You'd need a bigger down payment or a different loan.
You need at least $32,841 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $8,035; principal and interest $6,241.
The city and its county
Lake Forest and Lake County
Lake Forest is in Lake County, Illinois. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Lake Forest
Map of Lake County, Illinois, with Lake Forest marked. Around it, the neighboring counties.
Lake Forest
Lake County
Other cities with a page
Lake Forest's own numbers
Typical home value
$938,300
Typical monthly rent
$1,815
Typical yearly household income
$235,081
Households that own their home
89%
Effective property tax rate
1.07%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Lake County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$2,011
Price change over 5 years (FHFA)
+54%
Homes in a high flood-risk zone
2%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Lake County.
A typical home in Lake Forest is worth $938,300: 171% above the county and 256% above Illinois. With the typical household income in Lake Forest ($235,081 a year), a typical home costs 4.0 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Lake Forest4.0 years
Lake3.1 years
Illinois3.2 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Lake County
According to FHFA’s house price index, home prices in Lake County rose 66% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Lake County.
Yearly change in FHFA’s price index in Lake County, 2016 to 2025
2016: +2.3% +2.3% 2016
2017: +1.8% +1.8% 2017
2018: +1.3% +1.3% 2018
2019: +1.9% +1.9% 2019
2020: +0.5% +0.5% 2020
2021: +8.3% +8.3% 2021
2022: +13.8% +13.8% 2022
2023: +9.0% +9.0% 2023
2024: +7.6% +7.6% 2024
2025: +6.7% +6.7% 2025
Change in FHFA’s price index in Lake County, Illinois and the United States
Period
County
Illinois
U.S.
Last year (2025)
+6.7%
+5.7%
+2.9%
5 years (2020–2025)
+54%
+47%
+47%
10 years (2015–2025)
+66%
+65%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Lake Forest next to Lake County, Illinois and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Lake Forest$938,300
Lake$345,700
Illinois$263,300
United States$332,700
Typical monthly rent
Lake Forest$1,815
Lake$1,477
Illinois$1,274
United States$1,413
Typical yearly household income
Lake Forest$235,081
Lake$110,416
Illinois$83,390
United States$80,734
See the full table
Lake Forest next to Lake County and Illinois
Measure
Lake Forest
Lake County
Illinois
U.S.
Typical home value
$938,300 ▲171% above the county
$345,700
$263,300
$332,700
Typical monthly rent
$1,815 ▲23% above the county
$1,477
$1,274
$1,413
Typical yearly household income
$235,081 ▲113% above the county
$110,416
$83,390
$80,734
Households that own their home
89% ▲14 points above the county
75%
67%
65%
Typical yearly property tax
$10,001 ▲12% above the county
$8,923
$5,298
$3,119
Effective property tax rate
1.07% ▼1.51 points below the county
2.58%
2.01%
0.94%
Renters with high rent for their income
39% ▼10 points below the county
49%
48%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Lake County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Lake Forest
For a typical $938,300 home in Lake Forest, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Lake Forest's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$8,035a month
Above the FHA limit for Lake County ($541,287)
Down payment
$32,841
Cash to close
$60,990
Rate
7.18%
Mortgage insurance
FHA MIP · $566
Conventional, 5% down$7,712a month
Above the conventional limit for Lake County ($832,750): it would be a "jumbo" loan
Down payment
$46,915
Cash to close
$75,064
Rate
7.18%
Mortgage insurance
PMI · $446
Conventional, 20% down, no PMI$6,313a month
Least cash to close
Down payment
$187,660
Cash to close
$215,809
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$7,180a month
Down payment
$140,745
Cash to close
$168,894
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Lake Forest
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Above the FHA limit for Lake County ($541,287)
$8,035
$32,841
$921,305
7.18%
FHA MIP · $566
$60,990
580
Conventional, 5% down Above the conventional limit for Lake County ($832,750): it would be a "jumbo" loan
$7,712
$46,915
$891,385
7.18%
PMI · $446
$75,064
620*
Conventional, 20% down, no PMI Least cash to close
$6,313
$187,660
$750,640
7.18%
None
$215,809
620*
ITIN, 15% down (example)
$7,180
$140,745
$797,555
8.18%
None
$168,894
Set by the lender
The option that asks for the least cash to close is Conventional, 20% down, no PMI.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Lake Forest is $1,815 a month: 23% above the county. In Lake Forest, 39% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Lake County, by unit size. To pay the 2-bedroom one ($2,011 a month) without spending more than 30% of your income, you would need to earn $38.67 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Lake County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$1,678
$32.27
$67,120
1 bedroom
$1,780
$34.23
$71,200
2 bedrooms
$2,011
$38.67
$80,440
3 bedrooms
$2,586
$49.73
$103,440
4 bedrooms
$2,954
$56.81
$118,160
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in Lake Forest
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Lake Forest is in ZIP code 60045.
For 2 bedrooms it is $2,960: $949 more than the fair market rent for Lake County ($2,011).
Fair market rent by ZIP code and size in Lake Forest, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
60045
$2,470
$2,620
$2,960
$3,810
$4,350
ZIP code2 bd3 bd
60045 $2,960$3,810
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Lake Forest when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
There are 2 HUD-approved agencies with an office in Lake County; 1 says it serves in Spanish.
No down payment, repair or rent-help program on our list is for Lake Forest or Lake County. The ones below are statewide in Illinois: they work in Lake Forest the same as in the rest of the state.
IHDA second loan with no payments until you sell or refinance, for the down payment in Illinois.Offered by Illinois Housing Development Authority (IHDA).
No legal help resource on our list is for Lake Forest or Lake County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Lake Forest and all of Lake County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Lake Forest?
The typical home value in Lake Forest is $938,300, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Lake County it is $345,700.
How much does it cost to rent in Lake Forest?
Typical rent in Lake Forest is $1,815 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Lake County is $2,011.
What is the FHA loan limit in Lake Forest?
Lake Forest uses the FHA limit for all of Lake County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.
How much property tax do owners pay in Lake Forest?
The typical homeowner in Lake Forest pays $10,001 a year, according to the U.S. Census Bureau. That is 1.07% of the home’s value; in Lake County, the rate is 2.58%.
Where can I find free help to buy or rent in Lake Forest?
There are 2 HUD-approved counseling agencies with an office in Lake County. 1 says it serves in Spanish. They can help you get ready to buy, with your credit, or with rent.
