Lake Summerset, IL
Population 2,240 · Illinois
About Lake Summerset, IL
Lake Summerset is a small community in Illinois with a population of 2,240 residents. The median household income is $105,588 per year, which is above the national average. The median age in Lake Summerset is 46.1 years.
Housing in Lake Summerset has a median home value of $226,700 and median monthly rent of $1,206. Of the 1,078 total housing units, the majority are owner-occupied, with 767 owner-occupied and 107 renter-occupied units.
The unemployment rate in Lake Summerset is 9.6% and the poverty rate is 4.1%. 29.5% of residents hold a bachelor's degree or higher. The average commute time is 37.6 minutes.
Cost of Living in Lake Summerset, IL
Compared to national averages, Lake Summerset has a median household income of $105,588 (41% above the national median of $75,149). Home values average $226,700, which is 7% below the national median. Monthly rent at $1,206 is 4% above the US average of $1,163. Within Illinois, Lake Summerset's income is 41% above the state average of $75,072, and home values are 37% above the state median of $165,779.
Why Live in Lake Summerset, IL?
Lake Summerset offers a strong local economy with a median household income of $105,588, well above the national average, and affordable housing with a median home value of $226,700, below the US average of $244,900, and a low poverty rate of 4.1%, better than the national average.
Lake Summerset has a population of 2,240 with a median age of 46.1 years. Compare Lake Summerset with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Lake Summerset
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Carbon Cliff | 2,248 | $55,000 | $124,600 | Compare |
| Sumner | 2,229 | $51,458 | $61,200 | Compare |
| Elmwood | 2,254 | $87,644 | $144,600 | Compare |
| Casey | 2,258 | $48,631 | $86,000 | Compare |
| Nokomis | 2,213 | $57,625 | $78,400 | Compare |
| Wayne | 2,284 | $169,583 | $674,000 | Compare |
| Hinckley | 2,286 | $81,625 | $267,600 | Compare |
| Cambridge | 2,184 | $72,292 | $120,400 | 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.
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Frequently Asked Questions about Lake Summerset
What is the population of Lake Summerset, IL?
The population of Lake Summerset, IL is 2,240 according to the latest Census data.
What is the median household income in Lake Summerset?
The median household income in Lake Summerset, IL is $105,588 per year.
What is the median home value in Lake Summerset?
The median home value in Lake Summerset, IL is $226,700.
What is the average rent in Lake Summerset?
The median monthly rent in Lake Summerset, IL is $1,206.
What is the unemployment rate in Lake Summerset?
The unemployment rate in Lake Summerset, IL is 9.6%.