Lakewood village, Illinois Demographics & Population 2026

Population Overview

Lakewood village is a small community located in Illinois. The total population is 4,699. It ranks as the 343rd most populous out of 1,445 cities and towns in Illinois.

Age Demographics

The median age in Lakewood village is 40.2 years. This is 3% higher than the state median of 38.9 years. With 30.4% of the population under 18, Lakewood village has a notably young demographic profile, suggesting a family-oriented community.

Economy, Income & Housing

The median household income in Lakewood village is $185,774. This is 127% higher than the state median of $81,702. Compared to the national median of $78,538, household income here is 137% higher. The poverty rate stands at 3.2%. This is 73% 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 1.2%. This is 79% lower than the state rate of 5.8%. The median home value is $518,500. Housing costs are 107% higher than the state median of $250,500. With a home-value-to-income ratio of just 2.8x, Lakewood village is one of the most affordable housing markets in the area. 97.6% of occupied housing units are owner-occupied. This homeownership rate is 46% higher than the state average of 66.8%.

Race & Ethnicity

The largest racial or ethnic group in Lakewood village is White (non-Hispanic), making up 83.4% of the population. Hispanic or Latino residents account for 10.4%. The Black or African American population (0.5%) is well below the state average of 13.6%.

Education

60.6% of residents aged 25 and older hold a bachelor's degree or higher. This places Lakewood village in the top 10% of all cities in the state for educational attainment. This is 63% 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 98.3%. Notably, 25.4% of adults hold a graduate or professional degree, indicating a highly educated workforce.

Data Sources & Methodology

All demographic data for Lakewood village, 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.