Tower Lakes, Illinois Demographics & Population 2026
During the 2020–2024 ACS period, Tower Lakes, Illinois had a total population of 1,106, the 670th largest village in Illinois, with a median household income of $154,167, which is 85% higher than the state average. The poverty rate is 2.0%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Key Takeaways
- Household income is 85% above the state average — one of the wealthiest communities in Illinois.
- An exceptionally low poverty rate of 2.0% — among the lowest in Illinois.
- 76.4% of adults hold a bachelor's degree or higher — top 10% in Illinois.
Tower Lakes Quick Facts
How Tower Lakes Changed
Change from the 2019–2023 ACS period to 2020–2024. These are rolling five-year estimates, not year-over-year measurements.
| Metric | 2019–2023 | 2020–2024 | Change |
|---|---|---|---|
| Population | 1,148 | 1,106 | -3.7% |
| Median household income | $172,656 | $154,167 | -10.7% |
| Median home value | $495,900 | $510,300 | +2.9% |
How Tower Lakes Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Detailed income brackets
Employment
Housing Overview
People & Demographics
Age Distribution
Race & Ethnicity
Diversity Index
A less diverse community where one racial or ethnic group represents a large majority.
State average: 61 | National average: 61
Education
Educational Attainment (Adults 25+)
Tower Lakes Rankings in Illinois
Explore Illinois Rankings
Other Cities in Lake County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| Waukegan | 89,076 | $71,919 | 15.3% | $190,900 |
| Mundelein | 31,915 | $108,340 | 8.2% | $309,700 |
| North Chicago | 30,643 | $60,172 | 24.5% | $159,600 |
| Gurnee | 30,510 | $119,628 | 5.2% | $344,300 |
| Highland Park | 30,398 | $168,094 | 4.2% | $607,300 |
| Round Lake Beach | 27,079 | $86,059 | 14.8% | $199,200 |
| Vernon Hills | 26,876 | $121,943 | 6.1% | $412,300 |
| Zion | 24,600 | $63,104 | 16.0% | $183,800 |
| Grayslake | 20,929 | $113,972 | 6.3% | $309,500 |
| Libertyville | 20,525 | $165,667 | 4.2% | $512,000 |
Cities Similar to Tower Lakes
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Third Lake | 1,137 | $150,139 | $361,500 | 69.1% | 2.0% |
| Timberlane | 1,278 | $147,308 | $351,000 | 46.2% | 0.8% |
| Hamel | 1,134 | $109,464 | $251,300 | 34.8% | 2.8% |
| Bannockburn | 1,148 | $214,000 | $1,037,200 | 90.0% | 5.1% |
| Lily Lake | 1,293 | $140,313 | $418,800 | 41.7% | 0.2% |
Population Overview
Tower Lakes is a small community located in Illinois, within Lake County. The total population is 1,106. It ranks as the 670th most populous out of 1,445 Census-designated places in Illinois.
Age Demographics
The median age in Tower Lakes is 48.8 years. This is 25% higher than the state median of 39.0 years.
Economy, Income & Housing
The median household income in Tower Lakes is $154,167. This is 85% higher than the state median of $83,390. It is also 91% higher than the national median of $80,734. The poverty rate stands at 2.0%. This is 83% lower than the state poverty rate of 11.8%. This exceptionally low poverty rate indicates strong economic prosperity across the community. The unemployment rate is 2.8%. This is 52% lower than the state rate of 5.8%. The median home value is $510,300. Housing costs are 94% higher than the state median of $263,300. The home-value-to-income ratio is 3.3x. 96.9% of occupied housing units are owner-occupied. This homeownership rate is 44% higher than the state average of 67.1%.
Race & Ethnicity
Tower Lakes has a predominantly White (non-Hispanic) population, comprising 85.6% of all residents. Hispanic or Latino residents account for 6.6%. The Hispanic or Latino population (6.6%) is well below the state average of 18.8%. The Asian population (2.4%) is well below the state average of 5.9%.
Education
76.4% of residents aged 25 and older hold a bachelor's degree or higher. This places Tower Lakes in the top 10% of all cities in the state for educational attainment. This is 102% higher than the state rate of 37.9%. Nationally, 35.7% of adults hold at least a bachelor's degree. No surveyed resident aged 25 or older reported leaving school before earning a high school diploma, though a rate of exactly 100% reflects the limits of a small sample. Notably, 33.7% of adults hold a graduate or professional degree, indicating a highly educated workforce.
Data Sources & Methodology
All demographic data for Tower Lakes, Illinois is sourced from the U.S. Census Bureau's American Community Survey (ACS) 2020–2024 5-Year Estimates. The ACS collects data from approximately 3.5 million households annually and pools five years of responses so that even small communities can be measured, though the margin of error widens as the population falls. 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. Read more about how these figures are produced on our methodology page, or visit data.census.gov for official data.
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Frequently Asked Questions
What is the population of Tower Lakes, Illinois?
Tower Lakes, Illinois has a population of 1,106 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Tower Lakes, IL?
The median household income in Tower Lakes is $154,167, which is 91% higher than the national median of $80,734.
What is the poverty rate in Tower Lakes, IL?
The poverty rate in Tower Lakes is 2.0%. This means approximately 22 residents live below the federal poverty line.
What is the racial makeup of Tower Lakes, Illinois?
Tower Lakes's population is 85.6% White, 0.0% Black, 6.6% Hispanic/Latino, and 2.4% Asian.
What is the median home value in Tower Lakes, IL?
The median home value in Tower Lakes is $510,300. The home-value-to-income ratio is 3.3x.
How educated is Tower Lakes, Illinois?
76.4% of adults (25+) in Tower Lakes hold a bachelor's degree or higher, and 33.7% hold a graduate or professional degree.