What is the median home value in Lake Forest, IL?

Name: Home values in Lake Forest, IL, 2020–2024
Creator: US Census Bureau
License: https://www.census.gov/data/developers/about/terms-of-service.html

The median value of owner-occupied homes in Lake Forest, IL is $938,300 (±$36,426), as owners estimated it in the Census Bureau’s 2020–2024 American Community Survey.

In Lake Forest, the median home value went from $842,900 in 2015–2019 to $938,300 in 2020–2024 (+11.3%).

Prices (CPI-U) rose 22.7% over the same years, so it rose more slowly than prices: a measurable decrease after inflation.

Figures last updated on November 12, 2026.

Median home value: $938,300 (±$36,426)
Owner-occupied homes: 6,124 (±309)
Most common range: $1,000,000 or more

Home values in Lake Forest

Owner-occupied homes by value, 2020–2024
Value	Lake Forest	Lake County	Illinois	United States
Less than $50,000	1.2% (±1.0 points)	3.0%	5.4%	5.3%
$50,000 to $99,999	0.9% (±0.5 points)	1.5%	8.3%	6.1%
$100,000 to $149,999	1.0% (±1.0 points)	4.7%	9.7%	6.8%
$150,000 to $199,999	0.9% (±0.8 points)	11.0%	11.8%	9.0%
$200,000 to $299,999	2.2% (±1.8 points)	21.7%	22.3%	17.8%
$300,000 to $499,999	10.5% (±2.5 points)	31.4%	27.7%	26.9%
$500,000 to $999,999	40.0% (±5.3 points)	21.4%	12.1%	20.9%
$1,000,000 or more	43.3% (±4.5 points)	5.4%	2.7%	7.1%

The most common range is $1,000,000 or more, 43.3% of owned homes.

Value is the owner’s own estimate of what the home and lot would sell for, not a sale price or an assessment.

Lake Forest against Lake County, its state and the nation

Estimate (90% margin of error)
	Lake Forest	Lake County	Illinois	United States
Median home value	$938,300 (±$36,426)	$345,700 (±$3,502)	$263,300 (±$797)	$332,700
Owner-occupied homes	6,124 (±309)	193,403 (±1,802)	3,378,910 (±14,728)	84,210,142

In Lake Forest, the median home value is higher than in Lake County ($345,700).

It is also higher than in Illinois ($263,300).

It is higher than the national figure ($332,700).

In Lake County, Lake Forest ranks 2 of 71 places with a published estimate, from highest to lowest median home value.

Statewide, it ranks 9 of 2,652.

Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.

How home values in Lake Forest have changed since 2015–2019

2015–2019 and 2020–2024 American Community Survey 5-year estimates
	2015–2019	2020–2024	Amount of change	Verdict
Median home value	$842,900 (±$23,823)	$938,300 (±$36,426)	+11.3%	Down after inflation

The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.

Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.

The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.

Median home value in places near Lake Forest

Nearest places with a published estimate, compared with Lake Forest
Place	Distance	Median home value	Compared with this place
Lake Forest	—	$938,300 (±$36,426)	—
West Deerfield Township	2.8 mi	$714,300 (±$17,002)	Lower
Highwood	3.0 mi	$405,400 (±$120,494)	Lower
Bannockburn	3.0 mi	$1,037,200 (±$207,983)	Not measurably different
Shields Township	3.2 mi	$620,800 (±$73,023)	Lower
Lake Bluff	3.3 mi	$776,700 (±$60,138)	Lower
Mettawa	3.3 mi	$871,500 (±$173,516)	Not measurably different
Knollwood	3.6 mi	$393,000 (±$44,821)	Lower
Lincolnshire	4.1 mi	$677,700 (±$49,803)	Lower

Nearby places with a measurably lower figure: West Deerfield Township, IL ($714,300), Highwood, IL ($405,400), Shields Township, IL ($620,800).

Distance is measured in a straight line between the Census Bureau’s internal points for each place.

Median home value across Lake County, place by place

Rank	Place	Median home value
1	Bannockburn	$1,037,200 (±$207,983)
2	Lake Forest	$938,300 (±$36,426)
3	Mettawa	$871,500 (±$173,516)
4	Long Grove	$804,600 (±$50,264)
5	Riverwoods	$800,700 (±$49,740)
6	Lake Bluff	$776,700 (±$60,138)
7	Kildeer	$770,700 (±$55,500)
8	North Barrington	$765,900 (±$50,095)

Showing 8 of 71 places in Lake County, ranked from highest to lowest.

Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.

Margins of error are at the 90% confidence level.

What you can do on Seayora in Lake Forest

One account for renting, owning, managing and fixing homes, with these figures beside you.

Own or manage a rental?

List it, sign the lease and collect rent online, with the figures for Lake Forest beside you.

Create a landlord account · See what landlords get

Looking for a place to rent?

Browse homes for rent near Lake Forest, save the ones you like and apply online.

Browse rentals · Create a renter account

Do repairs, renovations or maintenance?

Get found by owners and renters near Lake Forest, and send estimates and invoices from your phone.

Join as a pro · Find a pro

Questions about Lake Forest

What is the average home value in Lake Forest, IL?

The Census Bureau publishes the median: $938,300 (±$36,426) for owner-occupied homes in Lake Forest (2020–2024 American Community Survey).

Have home values in Lake Forest gone up?

In Lake Forest, the median home value went from $842,900 in 2015–2019 to $938,300 in 2020–2024 (+11.3%).

Prices (CPI-U) rose 22.7% over the same years, so it rose more slowly than prices: a measurable decrease after inflation.

Is this what homes in Lake Forest sell for?

No: it is the value owners reported, which tends to lag the market; recent sale prices and an appraisal answer that question.

Sources

To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) for Lake Forest city, Illinois (place:41105, in state:17).

Each estimate (E or PE) has a margin of error beside it (M or PM).

The 2015–2019 figures are B25077_001E, B25077_001M, B25088_002E, B25088_002M, B25103_001E, B25103_001M from the 2019 release.

The API needs a free key.

Request a Census API key.

DP04_0089E, DP04_0089M, DP04_0046E, DP04_0046M, DP04_0081PE, DP04_0081PM, DP04_0082PE, DP04_0082PM, DP04_0083PE, DP04_0083PM, DP04_0084PE, DP04_0084PM, DP04_0085PE, DP04_0085PM, DP04_0086PE, DP04_0086PM, DP04_0087PE, DP04_0087PM, DP04_0088PE, DP04_0088PM

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.

Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.