Housing data for Third Lake, IL
Third Lake, IL has an estimated 1,137 residents and 481 homes (US Census Bureau, 2020–2024 American Community Survey).
It is a village in Lake County.
0.9% of households rent.
Figures last updated on .
- Residents
- 1,137 (±235)
- Housing units
- 481 (±111)
- Households that rent
- 0.9%
- Residents since 2015–2019
- +5.4%
What stands out in Third Lake
Households that rent: 0.9% (±1.3 points) in Third Lake, lower than in Lake County (25.2%).
Homes in buildings of 5 or more units: 2.1% (±11.1 points) in Third Lake, lower than in Lake County (15.6%).
Homes built before 1980: 14.7% (±6.4 points) in Third Lake, lower than in Lake County (46.2%).
Median household income: $150,139 (±$30,382) in Third Lake, higher than in Lake County ($110,416).
Housing in Third Lake at a glance
- Rent burden: 0.0% of renters pay 30% or more of income (Small sample: wide margin of error)
- Renters and owners: 0.9% of households rent (Small sample: wide margin of error)
- Income and affordability: $150,139 median household income
- Home values: $361,500 median home value
- Homeowner costs: $2,588 median monthly cost with a mortgage
- Property taxes: $10,000 or more median real estate taxes a year
- Types of homes: 2.1% of homes are in buildings of 5 or more units
- Bedrooms: 85.9% of homes have 3 or more bedrooms (Small sample: wide margin of error)
- Age of homes: 14.7% of homes were built before 1980
- Vacancy rate: 0.0% rental vacancy rate (Small sample: wide margin of error)
- Heating fuel: 95.0% heat with utility gas
- Commute and cars: 29.8 minutes average trip to work
- Growth: +5.4% residents since 2015–2019
- How long people stay: 25.5% moved in since 2020
- Crowding and facilities: 0.0% of homes have more than 1 person per room (Small sample: wide margin of error)
Third Lake against Lake County, its state and the nation
| Third Lake | Lake County | Illinois | United States | |
|---|---|---|---|---|
| Residents | 1,137 (±235) | 714,223 (exact) | 12,694,798 (exact) | 334,922,499 |
| Housing units | 481 (±111) | 270,618 (±167) | 5,457,452 (±471) | 143,775,355 |
| Households that rent | 0.9% (±1.3 points) | 25.2% (±0.6 points) | 32.9% (±0.2 points) | 34.8% |
| Median gross rent | — | $1,477 (±$29) | $1,274 (±$5) | $1,413 |
| Median household income | $150,139 (±$30,382) | $110,416 (±$1,747) | $83,390 (±$362) | $80,734 |
| Median home value | $361,500 (±$12,841) | $345,700 (±$3,502) | $263,300 (±$797) | $332,700 |
| Median real estate taxes (a year) | $10,000 or more | $8,923 (±$108) | $5,298 (±$22) | $3,119 |
| Built before 1980 | 14.7% (±6.4 points) | 46.2% (±0.9 points) | 63.4% (±0.2 points) | 49.7% |
| Average commute | 29.8 minutes (±3.4) | 28.5 minutes (±0.4) | 27.8 minutes (±0.1) | 26.4 minutes |
| Households with broadband | 100.0% (±7.8 points) | 94.3% (±0.4 points) | 90.8% (±0.1 points) | 91.0% |
| Median age of residents | 52.2 years (±7.9) | 39.1 years (±0.2) | 39.0 years (±0.1) | 38.9 years |
Third Lake covers 0.6 square miles of land, about 1,934 residents per square mile (Census Bureau Gazetteer).
How Third Lake has changed since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Residents | 1,079 (±174) | 1,137 (±235) | +5.4% | Not a measurable change |
| Housing units | 415 (±71) | 481 (±111) | +15.9% | Not a measurable change |
| Median home value | $267,400 (±$16,450) | $361,500 (±$12,841) | +35.2% | Up after inflation |
| Median household income | $116,563 (±$12,292) | $150,139 (±$30,382) | +28.8% | No measurable change after inflation |
| Median owner cost with a mortgage | $2,386 (±$158) | $2,588 (±$249) | +8.5% | Down after inflation |
| Households that rent | 3.2% (±2.7 points) | 0.9% (±1.3 points) | −2.3 percentage points | Not a measurable change |
| Rental vacancy rate | 0.0% (±79.0 points) | 0.0% (±100.0 points) | 0.0 percentage points | Not a measurable change |
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.
Crime reported to police in Lake County
Third Lake has no police department of its own in the FBI’s figures, so this is the figure for Lake County as a whole.
In 2025, the police departments that report for Lake County recorded 125 violent and 746 property crimes per 100,000 residents.
A county-wide figure describes the whole county, not this place; crime varies from one community to the next.
Places near Third Lake
| Place | Distance | Median gross rent | Median home value | Households that rent |
|---|---|---|---|---|
| Gages Lake | 1.8 mi | $1,693 | $310,500 | 17.0% |
| Grandwood Park | 1.8 mi | $1,836 | $330,500 | 12.6% |
| Grayslake | 2.4 mi | $1,485 | $309,500 | 21.8% |
| Avon Township | 2.6 mi | $1,510 | $230,900 | 22.4% |
| Venetian Village | 3.1 mi | $1,711 | $231,100 | 16.2% |
| Warren Township (Lake County) | 3.2 mi | $1,592 | $325,800 | 26.7% |
| Lindenhurst | 3.4 mi | $1,768 | $294,100 | 14.5% |
| Gurnee | 3.7 mi | $1,655 | $344,300 | 23.9% |
HUD Fair Market Rent for Third Lake, fiscal year 2027
| Studio | 1 bedroom | 2 bedrooms | 3 bedrooms | 4 bedrooms |
|---|---|---|---|---|
| $1,678 | $1,780 | $2,011 | $2,586 | $2,954 |
HUD income limits for Third Lake, fiscal year 2026
| Household size | Extremely low (30%) | Very low (50%) | Low (80%) |
|---|---|---|---|
| 1 person | $25,550 | $42,550 | $68,050 |
| 2 people | $29,200 | $48,600 | $77,800 |
| 3 people | $32,850 | $54,700 | $87,500 |
| 4 people | $36,450 | $60,750 | $97,200 |
| 5 people | $39,400 | $65,650 | $105,000 |
| 6 people | $44,360 | $70,500 | $112,800 |
| 7 people | $50,040 | $75,350 | $120,550 |
| 8 people | $55,720 | $80,200 | $128,350 |
These are the limits HUD sets for its housing programs in the Chicago-Joliet-Naperville, IL HUD Metro FMR Area, where HUD’s median family income for fiscal year 2026 is $121,500.
A program can use its own limits; tax-credit and local programs often do.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
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Questions about Third Lake
What is the median household income in Third Lake?
The median household income in Third Lake is $150,139 (±$30,382) a year (2020–2024 American Community Survey).
What is the average home value in Third Lake, IL?
The Census Bureau publishes the median: $361,500 (±$12,841) for owner-occupied homes in Third Lake (2020–2024 American Community Survey).
What is the average mortgage payment in Third Lake?
The Census Bureau publishes total owner costs rather than the mortgage alone: the median for owners with a mortgage in Third Lake, IL is $2,588 (±$249) a month, including taxes, insurance and utilities.
How much are property taxes in Third Lake?
The median real estate tax paid by homeowners in Third Lake, IL is $10,000 or more a year (2020–2024 American Community Survey).
How many homes are in Third Lake?
Third Lake, IL has an estimated 481 (±111) housing units, occupied and vacant (2020–2024 American Community Survey).
How old are most homes in Third Lake?
14.7% of homes in Third Lake, IL were built before 1980 (2020–2024 American Community Survey).
Is Third Lake growing?
In Third Lake, the number of residents went from 1,079 in 2015–2019 to 1,137 in 2020–2024 (+5.4%), not a measurable change.
Sources
- Demographic and Housing Estimates (DP05), 2020–2024 ACS 5-year estimates — Third Lake village, Illinois
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Third Lake village, Illinois
- Selected Economic Characteristics (DP03), 2020–2024 ACS 5-year estimates — Third Lake village, Illinois
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2020–2024 ACS 5-year estimates — Third Lake village, Illinois
- Selected Social Characteristics (DP02), 2020–2024 ACS 5-year estimates — Third Lake village, Illinois
- Total Population (B01003), 2015–2019 ACS 5-year estimates — Third Lake village, Illinois
- Median Gross Rent (B25064), 2015–2019 ACS 5-year estimates — Third Lake village, Illinois
- HUD Fair Market Rents, fiscal year 2027: Chicago-Joliet-Naperville, IL HUD Metro FMR Area
- HUD Small Area Fair Market Rents, fiscal year 2027
- HUD Income Limits, fiscal year 2026: Chicago-Joliet-Naperville, IL HUD Metro FMR Area
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
- US Census Bureau, 2024 Gazetteer Files
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 Third Lake village, Illinois (place:75081, in state:17).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B01003_001E, B01003_001M, B25064_001E, B25064_001M from the 2019 release.
The API needs a free key.
DP05_0001E, DP05_0001M, DP04_0001E, DP04_0001M, DP04_0047PE, DP04_0047PM, DP04_0134E, DP04_0134M, DP03_0062E, DP03_0062M, DP04_0089E, DP04_0089M
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.
Figures last updated on .