Lake County, Illinois: commercial real estate data.
Lake County, Illinois has a population of 714,223 across 444 square miles, up 0.6 percent since the 2020 census base. 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.
129 sourced county values · tier FULL · 12 sections
Lake County
How many people live in Lake County
- Population714,223
- 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-equivalents95th
Lake County is the 3rd largest of 102 Illinois counties by population. A median home costs 3.1 times median household income, which is an affordable ownership market 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 growing
- Population change since the 2020 census base0.59 percent
- Census 2020 base population714,412
- 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
The county has grown 0.59 percent since the 2020 census base. Migration contributed more to 2024 change than births over deaths, so demand here follows people arriving rather than families forming.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Lake County
Where people moving to Lake County come from
- Tax returns filed by households arriving16,168
- People arriving, from those returns29,783
- Adjusted gross income arriving$2.15 bn
- Net adjusted gross income movement$0
- Average income of an arriving household$132,863
- Largest single originLake County Non-migrants (269,131 households)
- Largest single destination (269,131 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Lake County Non-migrants | 269,131 | 574,575 | $46.54 bn |
| Cook County | 7,460 | 14,458 | $1.15 bn |
| Other flows - Different State | 2,864 | 5,338 | $320.8 m |
| Other flows - South | 1,168 | 2,284 | $137.2 m |
| McHenry County | 962 | 1,545 | $71.5 m |
| Other flows - Midwest | 809 | 1,437 | $84.5 m |
| Kenosha County | 570 | 938 | $30.5 m |
| DuPage County | 545 | 972 | $69.1 m |
The largest single source of arrivals is Lake County Non-migrants, 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 the Lake County economy runs on
- 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 Illinois counties3rd
- Rank by GDP among US county-equivalents63rd
- 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
Who employs people in Lake County
- Covered employment, annual average329,354
- Establishments reporting19,967
- Average annual pay$91,042
- Average weekly wage$1,751
- Sector 31-33, employment52,776
- Sector 31-33, average annual pay$144,717
- Sector 44-45, employment36,424
- Sector 44-45, average annual pay$55,434
- Sector 62, employment32,507
- Sector 62, average annual pay$64,636
- Sector 72, employment25,069
- Sector 72, average annual pay$30,025
- Sector 56, employment23,865
- Sector 42, employment22,920
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 31-33 | 52,776 | 1,028 | $144,717 |
| Sector 44-45 | 36,424 | 1,874 | $55,434 |
| Sector 62 | 32,507 | 1,950 | $64,636 |
| Sector 72 | 25,069 | 1,478 | $30,025 |
| Sector 56 | 23,865 | 1,480 | $70,615 |
| Sector 42 | 22,920 | 1,144 | $138,370 |
| Sector 54 | 18,915 | 2,982 | $112,929 |
| Sector 52 | 14,099 | 944 | $130,454 |
The largest sector is the biggest private employer group at 52,776 jobs, 16.0 percent of covered employment. Average pay per job sits below median household income, so households here typically need more than one earner.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Lake County
What businesses operate 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.
US Census Bureau, County Business Patterns, 2023.
Lake County
What is being built in Lake County
- Housing units authorised by permit, 20241,042
- Declared construction value permitted$431.5 m
- Single family units authorised531
- Multifamily units authorised511
- Multifamily share of units49.0 percent
- Average declared value per unit$414,093
- Units authorised per 1,000 households4.0
Multifamily is 49.0 percent of units authorised, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Lake County
How much SBA lending happens in Lake County
- 7(a) approvals recorded888
- 7(a) gross approval dollars$515.9 m
- Average 7(a) approval$580,966
- Median 7(a) approval$229,500
- 10th percentile approval$40,000
- 90th percentile approval$1,688,000
- 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$597,000
- Distinct CDCs active7
- 504 jobs per approval10.3
- 504 jobs per million dollars approved11.3
- Most active CDCSmall Business Growth Corporation (182)
- 7(a) share of SBA approvals69.2 percent
- Combined SBA approval dollars$875.5 m
The average approval of $580,966 sits well above the median of $229,500, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually 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
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.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Lake County
Which parts of Lake County get the lending
- Places in the county with recorded lending52
- LIBERTYVILLE, approvals65
- BUFFALO GROVE, approvals59
- MUNDELEIN, approvals59
- WAUKEGAN, approvals51
- Grayslake, approvals49
- Lake Zurich, approvals48
| Place | Approvals | Gross approval dollars |
|---|---|---|
| LIBERTYVILLE | 65 | $33,530,200 |
| BUFFALO GROVE | 59 | $20,399,800 |
| MUNDELEIN | 59 | $20,933,200 |
| 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 |
LIBERTYVILLE accounts for 65 approvals against 59 in BUFFALO GROVE. 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 big 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 boundary2
- 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
What hazards affect Lake County
- EPA radon zone predicted average indoor radon screening level from 2 to 4 pCi/LZone 2
- Communities 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
The EPA places the county in radon zone 2, a predicted average indoor radon screening level from 2 to 4 pCi/L. The best Community Rating System class in the county is 5, which carries a flood insurance premium discount for properties in the participating community.
US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001. FEMA OpenFEMA, NFIP Community Status Book, Community Status Book, as retrieved.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
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.
- Population714,223
- 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?
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 growing?
The population has grown 0.59 percent since the 2020 census base. 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 there 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 the average wage in Lake County?
Average annual pay is $91,042, or $1,751 a week, across 329,354 covered jobs. 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 totalling $515.9 m since FY2020, across 109 lenders, with a median approval of $229,500, plus 396 504 approvals worth $359.6 m. 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.
What is being built in Lake County?
1,042 housing units were authorised 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 Lake County Non-migrants, with 269,131 households. Arriving households report an average income of $132,863 against null 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?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.