Lake Forest, IL Real Estate
According to census data in the year 2000 there were 7,016 housing units in Lake Forest.
This represents a 14.4% growth from 6,131 in 1990.
Of those housing units, 6,827 were located in either urbanized areas or urban clusters, and 189 were located in what is classified as a rural area.
Homeownership rate in Lake Forest is about 87.2%.
Lake Forest's vacancy rate, including seasonal lodging, is about 4.6%.
Average household size is 2.77 people.
The majority of houses, apartments or condos in Lake Forest were built after 1968.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.80% |
| One Bedroom | 5.20% |
| Two Bedrooms | 12.70% |
| Three Bedrooms | 24.90% |
| Four Bedrooms | 35.20% |
| Five Bedrooms or more | 21.30% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.89 |
| Median year structure was built | 1969 |
| Median Value of occupied units | $662,400 |
| Median Price asked for vacant units | $588,900 |
Rented Homes, Apartments and Condos
| Average Household Size | 1.98 |
| Median year structure was built | 1959 |
| Median Monthly Rent asked for vacant units | $2,001 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.90% |
| Second Mortgage | 5.10% |
| Home Equity Loan | 15.40% |
| Simple Mortgage | 52.20% |
| Debt Free | 26.40% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 18.8% |
