Lake Forest city, Illinois Demographics & Population 2026

Population Overview

Lake Forest city is a small city located in Illinois. The total population is 19,190. It ranks as the 128th most populous out of 1,445 cities and towns in Illinois.

Age Demographics

The median age in Lake Forest city is 46.1 years. This is 19% higher than the state median of 38.9 years. 13.5% of residents are 75 or older, suggesting a significant retirement-age population with implications for healthcare services and senior housing.

Economy, Income & Housing

The median household income in Lake Forest city is $228,120. This is 179% higher than the state median of $81,702. Compared to the national median of $78,538, household income here is 190% higher. The poverty rate stands at 4.0%. This is 66% lower than the state poverty rate of 11.7%. This exceptionally low poverty rate indicates strong economic prosperity across the community. The unemployment rate is 2.1%. This is 64% lower than the state rate of 5.8%. The median home value is $909,800. Housing costs are 263% higher than the state median of $250,500. The home-value-to-income ratio is 4.0x. 89.3% of occupied housing units are owner-occupied. This homeownership rate is 34% higher than the state average of 66.8%.

Race & Ethnicity

The largest racial or ethnic group in Lake Forest city is White (non-Hispanic), making up 82.4% of the population. Asian residents account for 6.1%. The Black or African American population (0.9%) is well below the state average of 13.6%. The Hispanic or Latino population (4.7%) is well below the state average of 18.5%.

Education

80.8% of residents aged 25 and older hold a bachelor's degree or higher. This places Lake Forest city in the top 10% of all cities in the state for educational attainment. This is 117% higher than the state rate of 37.2%. Nationally, 35.0% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 99.1%. Notably, 43.2% of adults hold a graduate or professional degree, indicating a highly educated workforce.

Data Sources & Methodology

All demographic data for Lake Forest city, Illinois is sourced from the U.S. Census Bureau's American Community Survey (ACS) 5-Year Estimates (2019-2023). The ACS collects data from approximately 3.5 million households annually, providing reliable estimates for communities of all sizes. Comparisons are made against Illinois state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 1,445 Census-designated places in Illinois. For official data, visit data.census.gov.