Lake County, Illinois: commercial real estate data.
Lake County, Illinois had an estimated 718,604 residents on July 1, 2024, up 0.6 percent since the 2020 census base of 714,412, across 444 square miles. County output reached $82.87 bn in 2024, 20,076 establishments operate here, and the SBA record carries 888 7(a) approvals worth $515.9 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Lake County
How many people live in Lake County
- Population, American Community Survey 2020-2024714,223
- Households258,455
- Average household size2.76
- Median household income$110,416
- Median age39.1
- Median gross rent$1,477 per month
- Median owner-occupied home value$345,700
- Home value to household income3.1 times
- Annual rent as a share of median income16.1 percent
- Adults 25 and over with a bachelor degree or higher47.7 percent
- Adults 25 and over with a graduate degree20.1 percent
- Adults 25 and over475,309
- Population under 18166,306
- Share under 1823.3 percent
- Population 65 and over112,792
- Share 65 and over15.8 percent
- Working age population, 18 to 64435,125
- Civilian labor force376,923
- Unemployment rate5.2 percent
- Labor force participation, adults 18 and over68.8 percent
- Rank by population among Illinois counties3rd of 102
- Rank by population among US county-equivalents, Puerto Rico included95th of 3,222
Lake County is the 3rd largest of 102 Illinois counties by population. A median home costs 3.1 times median household income, which is moderately unaffordable by national standards. Residents under 18 outnumber those 65 and over, at 23.3 percent against 15.8 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Lake County
Is Lake County's population growing?
- Population, July 1, 2024718,604
- Census 2020 base population714,412
- Population change since the 2020 census base0.59 percent
- Population change, 2023 to 20244,397
- Births, 20246,609
- Deaths, 20244,945
- Natural change, 20241,664
- Net domestic migration, 2024-4,601
- Net international migration, 20247,297
- Total net migration, 20242,696
- Cumulative net domestic migration, 2021 to 2024-19,178
- Rank by growth among US county-equivalents1618th of 3,144
The county has grown 0.59 percent since the 2020 census base. The population grew in 2024 from both sources: births exceeded deaths and more people moved in than left.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Lake County
Where are people moving to Lake County from?
- Tax returns filed by households arriving16,168
- People arriving, from those returns29,783
- Tax returns filed by households leaving18,835
- Net household movement-2,667
- Adjusted gross income arriving$2.15 bn
- Net adjusted gross income movement$-436.5 m
- Average income of an arriving household$132,863
- Average income of a leaving household$137,226
- Largest single originCook County (7,460 households)
- Largest single destinationCook County (4,896 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Cook County | 7,460 | 14,458 | $1.15 bn |
| McHenry County | 962 | 1,545 | $71.5 m |
| Kenosha County | 570 | 938 | $30.5 m |
| DuPage County | 545 | 972 | $69.1 m |
| Kane County | 278 | 480 | $30.0 m |
| Maricopa County | 168 | 294 | $15.2 m |
| San Diego County | 166 | 332 | $11.7 m |
| Milwaukee County | 154 | 238 | $12.5 m |
Households arriving report $4,363 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Cook County, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Lake County
What is the Lake County economy?
- County GDP, 2024$82.87 bn
- County GDP, 2023$79.93 bn
- GDP change, 2023 to 20243.7 percent
- GDP change over five years27.5 percent
- Rank by GDP among the Illinois areas BEA publishes3rd of 102
- Rank by GDP among the US county areas BEA publishes63rd of 3,127
- GDP per resident$116,027
Output grew 3.7 percent in the latest year and 27.5 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Lake County
Employment by industry in Lake County
- Covered employment, annual average329,354
- Establishments reporting19,967
- Average annual pay$91,042
- Average weekly wage$1,751
- Manufacturing, employment52,776
- Manufacturing, average annual pay$144,717
- Retail trade, employment36,424
- Retail trade, average annual pay$55,434
- Health care and social assistance, employment32,507
- Health care and social assistance, average annual pay$64,636
- Accommodation and food services, employment25,069
- Accommodation and food services, average annual pay$30,025
- Administrative and support and waste management services, employment23,865
- Wholesale trade, employment22,920
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Manufacturing | 52,776 | 1,028 | $144,717 |
| Retail trade | 36,424 | 1,874 | $55,434 |
| Health care and social assistance | 32,507 | 1,950 | $64,636 |
| Accommodation and food services | 25,069 | 1,478 | $30,025 |
| Administrative and support and waste management services | 23,865 | 1,480 | $70,615 |
| Wholesale trade | 22,920 | 1,144 | $138,370 |
| Professional, scientific and technical services | 18,915 | 2,982 | $112,929 |
| Finance and insurance | 14,099 | 944 | $130,454 |
Manufacturing is the largest private sector at 52,776 jobs, 16.0 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Lake County
How many businesses are in Lake County?
- Establishments, all industries20,076
- Employment at those establishments337,069
- Annual payroll$31.25 bn
- Establishments per 1,000 residents28.1
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Lake County
Building permits in Lake County
- Housing units authorized by permit, 20241,042
- Declared construction value permitted$431.5 m
- Single family units authorized531
- Multifamily units authorized511
- Multifamily share of units49.0 percent
- Average declared value per unit$414,093
- Units authorized per 1,000 households4.0
Multifamily is 49.0 percent of units authorized, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Lake County
SBA loans in Lake County (7(a) and 504)
- 7(a) approvals recorded888
- 7(a) gross approval dollars$515.9 m
- Average 7(a) approval$580,966
- Median 7(a) approval$229,250
- 10th percentile approval$40,000
- 90th percentile approval$1,664,900
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)10,727
- Jobs per approval12.1
- Distinct 7(a) lenders active109
- Distinct industries receiving approvals235
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer16.0 percent
- Loans on real estate terms142
- Loans on working capital terms, 120 months or shorter693
- Franchise loans150
- Franchise share of approvals16.9 percent
- Leading industry by approval countFull-Service Restaurants (48)
- Most active lenderThe Huntington National Bank (248)
- 504 approvals recorded396
- 504 gross approval dollars$359.6 m
- Average 504 approval$908,109
- Median 504 approval$596,000
- Distinct CDCs active7
- 504 jobs per approval10.3
- 504 jobs per million dollars approved11.3
- Most active CDCSmall Business Growth Corporation (182)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$875.5 m
The average approval of $580,966 sits well above the median of $229,250, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 16.0 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Lake County
SBA loan default and charge-off rates in Lake County
Do SBA loans in Lake County get paid back?
- Loans with a final outcome recorded135
- Paid in full123
- Charged off12
- Charge-off rate on resolved loans8.9 percent
- Status: Paid in full123
- Status: Exempt from disclosure591
- Status: Cancelled104
- Status: Charged off12
- Status: Committed, not yet disbursed58
Of the 135 loans that have reached a final outcome, 8.9 percent were charged off. This is computed only over resolved loans, because a loan still running has not yet succeeded or failed and counting it either way would be wrong.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Lake County
SBA lending by place in Lake County
- Borrower cities with recorded lending52
- Libertyville, approvals65
- Mundelein, approvals59
- Buffalo Grove, approvals59
- Waukegan, approvals51
- Grayslake, approvals49
- Lake Zurich, approvals48
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Libertyville | 65 | $33,530,200 |
| Mundelein | 59 | $20,933,200 |
| Buffalo Grove | 59 | $20,399,800 |
| Waukegan | 51 | $61,949,200 |
| Grayslake | 49 | $30,634,400 |
| Lake Zurich | 48 | $16,236,000 |
| Gurnee | 43 | $29,009,300 |
| Highland Park | 40 | $18,044,700 |
| 44 other borrower cities | 474 | $285,160,700 |
Libertyville accounts for 65 approvals against 59 in Mundelein. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Lake County
How large is Lake County?
- Land area444 sq mi
- Rank by land area among Illinois counties62nd of 102
- Width, east to west22.5 mi
- Height, north to south23.7 mi
- Geographies sharing a boundary3
- Residents per square mile of land1,609
- Establishments per square mile45.22
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Lake County
Flood risk in Lake County
- Participation of the county's own NFIP community Lake County, unincorporated areasParticipating, community 170357
- Community Rating System class of the county's own communityClass 6
- Communities in the county in the NFIP Community Status Book54
- Of those, participating in the NFIP54
- NFIP participation rate100.0 percent
- Best Community Rating System class in the county A lower CRS class is a larger flood insurance premium discount.Class 5
- Communities carrying a CRS class12
- Radon levels in Lake County, EPA zone predicted average indoor radon screening level from 2 to 4 pCi/LZone 2
The county's own community in the status book, unincorporated Lake County (community 170357), participates in the National Flood Insurance Program and carries Community Rating System class 6, a flood insurance premium discount for policies written there. The EPA places Lake County in radon zone 2, a predicted average indoor radon screening level from 2 to 4 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. The best Community Rating System class among the county's communities is 5, which carries a flood insurance premium discount for policies written in that community. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
Feasibility studies
When a Lake County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Lake County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-2024714,223
- Households258,455
- Average household size2.76
- Median household income$110,416
- Median age39.1
Common questions
Lake County questions, answered from the record.
How many people live in Lake County, Illinois?
The Census Bureau estimates 718,604 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 714,223, in 258,455 households, ranking 3rd of 102 Illinois counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Lake County's population growing?
The population has grown 0.59 percent since the 2020 census base of 714,412, to 718,604 on July 1, 2024. In 2024 there were 6,609 births against 4,945 deaths, with net migration of 2,696. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Lake County?
$110,416. The median owner-occupied home is valued at $345,700, which is 3.1 times income, and median gross rent is $1,477 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Lake County?
20,076 establishments, employing 337,069 people with an annual payroll of $31.25 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is employment by industry in Lake County?
Manufacturing is the largest private sector at 52,776 jobs, 16.0 percent of covered employment. Covered employment averages 329,354 jobs at an average annual pay of $91,042, or $1,751 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Lake County?
888 7(a) approvals totaling $515.9 m since FY2020, across 109 lenders, with a median approval of $229,250, plus 396 504 approvals worth $359.6 m since FY2010. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Lake County get paid back?
Of the 135 loans that have reached a final outcome, 123 were paid in full and 12 charged off, a charge-off rate of 8.9 percent. Loans still running are excluded, because they have not yet succeeded or failed.
How many building permits were issued in Lake County?
1,042 housing units were authorized by permit in 2024, with a declared construction value of $431.5 m. Multifamily was 49.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Lake County?
Zone 2, a predicted average indoor radon screening level from 2 to 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Lake County come from?
The largest single origin is Cook County, with 7,460 households. Arriving households report an average income of $132,863 against $137,226 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Lake County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Lake County?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
Lake County
Cities and places in Lake.
60 Census places lie wholly or partly in Lake County. All 60 carry enough published place level data for a page of their own and are linked.
| Place | Type | Population | SBA 7(a) approvals, projects in this county | Lies in |
|---|---|---|---|---|
| Waukegan | city | 89,076 | 51 | Wholly in this county |
| Buffalo Grove | village | 42,891 | 59 | 77.9 percent here, 22.1 percent Cook County |
| Mundelein | village | 31,915 | 59 | Wholly in this county |
| North Chicago | city | 30,643 | 11 | Wholly in this county |
| Gurnee | village | 30,510 | 43 | Wholly in this county |
| Highland Park | city | 30,398 | 40 | Wholly in this county |
| Round Lake Beach | village | 27,079 | 8 | Wholly in this county |
| Vernon Hills | village | 26,876 | 36 | Wholly in this county |
| Zion | city | 24,600 | 23 | Wholly in this county |
| Grayslake | village | 20,929 | 49 | Wholly in this county |
| Libertyville | village | 20,525 | 65 | Wholly in this county |
| Lake Zurich | village | 19,832 | 48 | Wholly in this county |
| Deerfield | village | 19,518 | 29 | 91.8 percent here, 8.2 percent Cook County |
| Lake Forest | city | 19,416 | 28 | Wholly in this county |
| Round Lake | village | 18,628 | 10 | Wholly in this county |
| Antioch | village | 14,859 | 36 | Wholly in this county |
| Lindenhurst | village | 14,417 | 5 | Wholly in this county |
| Beach Park | village | 14,115 | 8 | Wholly in this county |
| Wauconda | village | 14,027 | 33 | Wholly in this county |
| Fox Lake | village | 11,131 | 9 | 75.3 percent here, 24.7 percent McHenry County |
| Barrington | village | 11,077 | 33 | 44.5 percent here, 55.5 percent Cook County |
| Gages Lake | CDP | 10,819 | None recorded | Wholly in this county |
| Hawthorn Woods | village | 9,143 | 6 | Wholly in this county |
| Lake Villa | village | 8,683 | 25 | Wholly in this county |
| Long Grove | village | 8,305 | 7 | Wholly in this county |
| Island Lake | village | 8,014 | 6 | 45.0 percent here, 55.0 percent McHenry County |
| Lincolnshire | village | 7,980 | 21 | Wholly in this county |
| Round Lake Park | village | 7,919 | 2 | Wholly in this county |
| Park City | city | 7,827 | 4 | Wholly in this county |
| Volo | village | 6,706 | 16 | Wholly in this county |
| Winthrop Harbor | village | 6,559 | 5 | Wholly in this county |
| Lakemoor | village | 6,467 | 1 | 38.3 percent here, 61.7 percent McHenry County |
| Lake Bluff | village | 6,041 | 18 | Wholly in this county |
| Lake Barrington | village | 5,442 | 14 | Wholly in this county |
| Highwood | city | 5,301 | 7 | Wholly in this county |
| Grandwood Park | CDP | 5,262 | None recorded | Wholly in this county |
| Fox River Grove | village | 4,523 | None recorded | 10.7 percent here, 89.3 percent McHenry County |
| Kildeer | village | 4,292 | 8 | Wholly in this county |
| Green Oaks | village | 4,096 | None recorded | Wholly in this county |
| Riverwoods | village | 4,013 | 8 | Wholly in this county |
| Barrington Hills | village | 3,879 | 2 | 11.6 percent here, 63.9 percent Cook County, 18.6 percent McHenry County, 5.9 percent Kane County |
| Deer Park | village | 3,711 | 16 | Wholly in this county |
| Wadsworth | village | 3,686 | 2 | Wholly in this county |
| Hainesville | village | 3,524 | 2 | Wholly in this county |
| Long Lake | CDP | 3,307 | None recorded | Wholly in this county |
| North Barrington | village | 3,143 | 3 | Wholly in this county |
| Round Lake Heights | village | 2,592 | 2 | Wholly in this county |
| Fox Lake Hills | CDP | 2,399 | None recorded | Wholly in this county |
| Venetian Village | CDP | 2,334 | None recorded | Wholly in this county |
| Channel Lake | CDP | 2,052 | None recorded | Wholly in this county |
| Forest Lake | CDP | 1,865 | None recorded | Wholly in this county |
| Knollwood | CDP | 1,864 | None recorded | Wholly in this county |
| Port Barrington | village | 1,477 | None recorded | 55.1 percent here, 44.9 percent McHenry County |
| Bannockburn | village | 1,148 | 7 | Wholly in this county |
| Third Lake | village | 1,137 | None recorded | Wholly in this county |
| Tower Lakes | village | 1,106 | 1 | Wholly in this county |
| Lake Catherine | CDP | 968 | None recorded | Wholly in this county |
| Indian Creek | village | 874 | 1 | Wholly in this county |
| Mettawa | village | 663 | None recorded | Wholly in this county |
| Old Mill Creek | village | 143 | 1 | Wholly in this county |
A further 20 of the county's 888 SBA 7(a) approvals are to borrowers in cities that match no Census place in Lake County, the largest being Ingleside (9), Spring Grove (4), South Barrington (3). Those are postal cities, unincorporated areas and cities outside the county, so no place row claims them; they are counted in the county total above.
Nearby