Lake Barrington, IL
Population 5,400 · Illinois
About Lake Barrington, IL
Lake Barrington is a small town located in Illinois with a population of 5,400 residents according to the latest US Census Bureau American Community Survey data. The median household income is $132,857 per year, which is 77% above the national median of $75,149. The median age of 52.7 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Lake Barrington features a median home value of $451,400, which is 84% above the national median of $244,900. This places Lake Barrington in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $3,060, 163% above the national average of $1,163/month. Of the 2,427 total housing units, 89% are owner-occupied (2,060 units) and 11% are renter-occupied (252 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Lake Barrington shows an unemployment rate of 5.7%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 6.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Lake Barrington have an average one-way commute time of 33.8 minutes.
Education & Demographics
62.3% of Lake Barrington residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 1.3% White, 2.0% Hispanic or Latino, 0.3% Black or African American, and 0.6% Asian residents, with 13.2% of the population being foreign-born.
Cost of Living in Lake Barrington, IL
Compared to national averages, Lake Barrington has a median household income of $132,857 (77% above the national median of $75,149). Home values average $451,400, which is 84% above the national median. Monthly rent at $3,060 is 163% above the US average of $1,163. Within Illinois, Lake Barrington's income is 77% above the state average of $75,072, and home values are 172% above the state median of $165,779.
Why Live in Lake Barrington, IL?
Lake Barrington offers a strong local economy with a median household income of $132,857, well above the national average, and a well-educated community where 62.3% of residents hold a bachelor’s degree or higher, and a low poverty rate of 6.2%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $451,400. However, Lake Barrington’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lake Barrington has a population of 5,400 with a median age of 52.7 years. Compare Lake Barrington with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Lake Barrington
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Lake Holiday | 5,402 | $112,250 | $235,300 | Compare |
| Candlewick Lake | 5,459 | $94,820 | $169,200 | Compare |
| Posen | 5,331 | $71,994 | $172,800 | Compare |
| Grandwood Park | 5,311 | $124,847 | $313,000 | Compare |
| Wilmington | 5,507 | $63,514 | $216,400 | Compare |
| Spring Valley | 5,508 | $63,964 | $125,000 | Compare |
| Pana | 5,277 | $45,083 | $82,000 | Compare |
| Highwood | 5,243 | $101,862 | $454,500 | 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 Lake Barrington With Other Cities
Frequently Asked Questions about Lake Barrington
What is the population of Lake Barrington, IL?
The population of Lake Barrington, IL is 5,400 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Illinois.
What is the median household income in Lake Barrington?
The median household income in Lake Barrington, IL is $132,857 per year, which is 77% above the national median of $75,149.
What is the median home value in Lake Barrington?
The median home value in Lake Barrington, IL is $451,400, which is 84% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lake Barrington?
The median monthly rent in Lake Barrington, IL is $3,060, which is 163% above the national average of $1,163/month.
What is the unemployment rate in Lake Barrington?
The unemployment rate in Lake Barrington, IL is 5.7%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Lake Barrington, IL a good place to live?
Lake Barrington offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 5,400 and a median age of 52.7, the city appeals to established professionals and retirees.
How educated is Lake Barrington, IL?
62.3% of residents in Lake Barrington 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 Lake Barrington?
Key cost-of-living indicators for Lake Barrington, IL: median home value is $451,400 (84% above national), median rent is $3,060/month, and median household income is $132,857. The home-value-to-income ratio is 3.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Lake Barrington?
The poverty rate in Lake Barrington, IL is 6.2%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Lake Barrington, IL?
Lake Barrington's population is 1.3% White, 2.0% Hispanic or Latino, 0.3% Black or African American, 0.6% Asian, and 0.0% two or more races. 13.2% of residents are foreign-born.