Arrive North Shore
634 Sheridan Rd,
Highwood, IL 60040
1-3 Beds | $1,690 - $2,840
Rental Market Trends in Lake Forest, IL
What is the average rent in Lake Forest, IL?
$2,883/month
Average Rent
807 Sq Ft
Average Apartment Size
+4.8%
Increase in the Last Year
As of December 2024, the average rent in Lake Forest, IL is $2,883 per month. This is 85% higher than the national average rent price of $1,560/month, making Lake Forest one of the most expensive cities in the US. When you rent an apartment in Lake Forest, you can expect to pay about per month for a studio, $2,883 for a one-bedroom apartment, and around $4,518 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $6,416 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Lake Forest, IL?
In the past year, rent has increased by 4.8%, which averages out to $139 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated December 2024
Legend
2023
2024
Rent Ranges in Lake Forest, IL
Last Updated December 2024
Above $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
0%
$1,001 - $1,500/month
0%
$1,501 - $2,000/month
100%
Above $2,000/month
What salary do I need to live comfortably in Lake Forest, IL?
Because the average rent in Lake Forest is $2,883, you’ll want to make about $9,610 per month or $115,320 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Lake Forest, IL compare to other nearby cities and neighborhoods?
Use the tool below to compare Lake Forest, IL to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Nearby City Rent Trends
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Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.