Lake Forest, IL Median Household Income By Race

Lake Forest, IL median household income diversity

Based on our analysis of the distribution of Lake Forest population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 84.80% of the total residents in Lake Forest. Notably, the median household income for White households is $219,381.

Interestingly, White is both the largest group and the one with the highest median household income, which stands at $219,381.

For a better visual representation of these income disparities, take a look at the bar chart below. It illustrates the varying median household incomes across races, providing a clear comparison for each of the racial categories defined by the U.S. Census Bureau. All incomes have been adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS).

In Lake Forest, a diversity of median household incomes is evident among households of different races. The White households boast the highest median household income at about $219,381. Two or More Races households have a median income of approximately $202,502. Asian households have a median income of approximately $118,753. Conversely, Some Other Race households reveal the lowest median income at $100,059. These disparities underscore the varied income distribution within the city of Lake Forest.

Lake Forest, IL median household income trends across races

A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Lake Forest, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the city of Lake Forest.

Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:

• White: In Lake Forest, the median household income for the households where the householder is White increased by $45,779(26.37%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $173,602 in 2011 and $219,381 in 2021.
• Black or African American: In Lake Forest, the median household income for Black or African American households was $38,517 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
• American Indian and Alaska Native: Even though there is a population where the householder is American Indian and Alaska Native, there was no median household income reported by the U.S. Census Bureau for both 2011 and 2021.
• Asian: In Lake Forest, the median household income for the households where the householder is Asian decreased by $125,017(51.28%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $243,770 in 2011 and $118,753 in 2021.
• Native Hawaiian and Other Pacific Islander: According to the U.S. Census Bureau population data for Lake Forest, there are no households with Native Hawaiian and Other Pacific Islander householders. Consequently, the median household income for the Native Hawaiian and Other Pacific Islander population is not available.
• Some other race: In Lake Forest, the median household income for the households where the householder is Some other race increased by $81,233(431.49%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $18,826 in 2011 and $100,059 in 2021.
• Two or more races (multiracial): In Lake Forest, there was no reported median household income for multiracial households in 2011. However, in 2021, the median household income increased to $202,502(2022 inflation-adjusted dollars), marking a significant change.
• Above analysis reconfirms that there are 4 race households in Lake Forest. Households are categorized based on the self-identified race of the head of household.

Key observations: Households with multiracial householders witnessed significant growth in median household income, marking an impressive increase of $202,502. On the other hand, households where householder is Asian experienced a notable decline, with a decrease of $125,017 in median income.

Things to know

Which racial group has the highest median household income according to the Census Bureau in Lake Forest, IL?

Among the racial categories identified by the U.S. Census Bureau, and the American Community Survey 2017-2021 5-Year Estimates, households with White householders in Lake Forest have the highest median household income at $219,381.

How does the median household income vary by race in Lake Forest, IL?

In Lake Forest, the median household income In Lake Forest, a diversity of median household incomes is evident among households of different races. The White households boast the highest median household income at about $219,381. Two or More Races households have a median income of approximately $202,502. Asian households have a median income of approximately $118,753. Conversely, Some Other Race households reveal the lowest median income at $100,059. These disparities underscore the varied income distribution within the city of Lake Forest..

Which racial group has the lowest median household income according to the Census Bureau in Lake Forest, IL?

Of the racial categories outlined by the U.S. Census Bureau and the American Community Survey 2017-2021 5-Year Estimates, households headed by individuals identifying as Some Other Race in Lake Forest exhibit the lowest median household income at $100,059 among the identified racial categories.

What is the median household income for White households in Lake Forest, IL?

In Lake Forest, the median household income for the households where the householder is White increased by $45,779(26.37%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $173,602 in 2011 and $219,381 in 2021.

What is the median household income for Black or African American households in Lake Forest, IL?

In Lake Forest, the median household income for Black or African American households was $38,517 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.

References