What is the cost of living in Lake Forest, IL?
According to the most recent data on the cost of living, Lake Forest has an overall cost of living index of 180, which is 1.8x higher than the national index of 100.
Compared to Illinois, Lake Forest has a cost of living index that's 1.8x higher than Illinois's index of 98.
The standard of living in Lake Forest ranks as #330 most affordable out of the 336 places we measured in Illinois. By definition, that implies Lake Forest ranks as the #6 most expensive place in the Prairie State.
For more reading on life in Lake Forest, check out:
Lake Forest Cost Of Living Vs. Illinois
Six factors go into calculating the cost of living index in Lake Forest. Here is how it fares on each of the criteria:
The Services index in Lake Forest is 99.
The Groceries index in Lake Forest is 99.
The Health index in Lake Forest is 361.
The Housing index in Lake Forest is 99.
The Transportation index in Lake Forest is 103.
The Utilities index in Lake Forest is 97.
| Living Expense | Lake Forest | Illinois | National Average |
|---|---|---|---|
| Overall | 180 | 98 | 100 |
| Services | 99 | 99 | 100 |
| Groceries | 99 | 99 | 100 |
| Health | 361 | 96 | 100 |
| Housing | 99 | 101 | 100 |
| Transportation | 103 | 99 | 100 |
| Utilities | 97 | 101 | 100 |
Lake Forest Cost Of Living Compared To Illinois Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Illinois, check out:
Protect your home budget Compare home warranties in Lake Forest Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Lake Forest, IL Housing Cost Breakdown
Housing swings affordability the most between places in Illinois, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2020-2024. The key points are:
The Median Home Value in Lake Forest is $1,167,578.
The Median Rent in Lake Forest is $1,815.
The Median Income in Lake Forest is $235,081.
The Home Value To Income in Lake Forest is 5.0x.
The Rent To Monthly Income in Lake Forest is 0.09x.
| Statistic | Lake Forest | Illinois | United States |
|---|---|---|---|
| Median Home Value | $1,167,578 | $285,735 | $332,700 |
| Median Rent | $1,815 | $1,274 | $1,413 |
| Median Income | $235,081 | $83,390 | $80,734 |
| Home Value To Income | 5.0x | 3.4x | 4.1x |
| Rent To Monthly Income | 0.09x | 0.18x | 0.21x |
Lake Forest, IL Costs By Category
Detailed Lake Forest Services costs vs. Illinois
| Item | Lake Forest | Illinois |
|---|---|---|
| Shampoo | $1.27 | $1.28 |
| Movie | $17.91 | $12.13 |
| Bowling | $24.58 | $18 |
| Haircut | $33.69 | $24.26 |
| Beauty Salon | $53.44 | $45.56 |
Detailed Lake Forest Groceries costs vs. Illinois
| Item | Lake Forest | Illinois |
|---|---|---|
| Ground Beef | $5.28 | $5.84 |
| Fried Chicken | $1.42 | $1.57 |
| Milk | $4.87 | $4.67 |
| Potatoes | $4.9 | $4.93 |
| Pizza | $13.41 | $12.09 |
| Beer | $10.0 | $10.41 |
| Toothpaste | $3.75 | $3.7 |
Detailed Lake Forest Health costs vs. Illinois
| Item | Lake Forest | Illinois |
|---|---|---|
| Optometrist | $118.27 | $125.68 |
| Doctor | $167.67 | $135.78 |
| Dentist | $128.22 | $113.29 |
Detailed Lake Forest Transportation costs vs. Illinois
| Item | Lake Forest | Illinois |
|---|---|---|
| Gasoline | $3.56 | $3.46 |
| Tire Balancing | $70.87 | $59.92 |
Detailed Lake Forest Utilities costs vs. Illinois
| Item | Lake Forest | Illinois |
|---|---|---|
| All Electricity | $148.58 | $193.99 |
| Phone | $210.03 | $192.25 |
Lake Forest SnackAbility
Cost Of Living In Cities Around Lake Forest
The cost of living varies in the cities and towns around Lake Forest. Here's a quick look at the cost of living in the most populous nearby places:
Arlington Heights, IL has a cost of living index of 125, 0.7x Lake Forest.
Glenview, IL has a cost of living index of 146, 0.8x Lake Forest.
Buffalo Grove, IL has a cost of living index of 126, 0.7x Lake Forest.
| City | Population | Cost Of Living | Vs. Lake Forest |
|---|---|---|---|
| Arlington Heights, IL | 76,005 | 125 | 0.7x |
| Glenview, IL | 47,752 | 146 | 0.8x |
| Buffalo Grove, IL | 42,891 | 126 | 0.7x |
| Park Ridge, IL | 38,667 | 135 | 0.8x |
| Northbrook, IL | 34,585 | 151 | 0.8x |
| Highland Park, IL | 30,398 | 144 | 0.8x |
| Wilmette, IL | 27,503 | 161 | 0.9x |
| Lake Zurich, IL | 19,832 | 122 | 0.7x |
| Deerfield, IL | 19,518 | 148 | 0.8x |
| Lincolnshire, IL | 7,980 | 161 | 0.9x |
