Gages Lake, IL
Population 10,706 · Illinois
About Gages Lake, IL
Gages Lake is a mid-sized city located in Illinois with a population of 10,706 residents according to the latest US Census Bureau American Community Survey data. The median household income is $105,114 per year, which is 40% above the national median of $75,149. The median age of 40.3 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Gages Lake features a median home value of $291,200, which is 19% above the national median of $244,900. This positions Gages Lake in a moderately priced market relative to the rest of the country. Median monthly rent is $1,741, 50% above the national average of $1,163/month. Of the 4,206 total housing units, 83% are owner-occupied (3,377 units) and 17% are renter-occupied (672 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Gages Lake shows an unemployment rate of 7.0%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 5.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Gages Lake have an average one-way commute time of 26.2 minutes.
Education & Demographics
40.5% of Gages Lake residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 7.1% White, 1.2% Hispanic or Latino, 1.7% Black or African American, and 2.2% Asian residents, with 11.5% of the population being foreign-born.
Cost of Living in Gages Lake, IL
Compared to national averages, Gages Lake has a median household income of $105,114 (40% above the national median of $75,149). Home values average $291,200, which is 19% above the national median. Monthly rent at $1,741 is 50% above the US average of $1,163. Within Illinois, Gages Lake's income is 40% above the state average of $75,072, and home values are 76% above the state median of $165,779.
Why Live in Gages Lake, IL?
Gages Lake offers a strong local economy with a median household income of $105,114, well above the national average, and a well-educated community where 40.5% of residents hold a bachelor’s degree or higher, and a low poverty rate of 5.2%, better than the national average.
Gages Lake has a population of 10,706 with a median age of 40.3 years. Compare Gages Lake with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Gages Lake
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Campton Hills | 10,724 | $192,727 | $510,100 | Compare |
| Worth | 10,731 | $56,998 | $220,200 | Compare |
| Crestwood | 10,622 | $68,686 | $187,700 | Compare |
| Pingree Grove | 10,576 | $119,880 | $298,300 | Compare |
| Fox Lake | 10,872 | $69,896 | $219,300 | Compare |
| Roscoe | 10,881 | $97,704 | $215,200 | Compare |
| Troy | 10,889 | $97,825 | $240,800 | Compare |
| Summit | 10,896 | $60,417 | $224,800 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Gages Lake With Other Cities
Frequently Asked Questions about Gages Lake
What is the population of Gages Lake, IL?
The population of Gages Lake, IL is 10,706 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Illinois.
What is the median household income in Gages Lake?
The median household income in Gages Lake, IL is $105,114 per year, which is 40% above the national median of $75,149.
What is the median home value in Gages Lake?
The median home value in Gages Lake, IL is $291,200, which is 19% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Gages Lake?
The median monthly rent in Gages Lake, IL is $1,741, which is 50% above the national average of $1,163/month.
What is the unemployment rate in Gages Lake?
The unemployment rate in Gages Lake, IL is 7.0%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Gages Lake, IL a good place to live?
Gages Lake offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 10,706 and a median age of 40.3, the city appeals to a broad range of residents.
How educated is Gages Lake, IL?
40.5% of residents in Gages Lake aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Gages Lake?
Key cost-of-living indicators for Gages Lake, IL: median home value is $291,200 (19% above national), median rent is $1,741/month, and median household income is $105,114. The home-value-to-income ratio is 2.8x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Gages Lake?
The poverty rate in Gages Lake, IL is 5.2%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Gages Lake, IL?
Gages Lake's population is 7.1% White, 1.2% Hispanic or Latino, 1.7% Black or African American, 2.2% Asian, and 7.0% two or more races. 11.5% of residents are foreign-born.