Lily Lake, IL
Population 1,432 · Illinois
About Lily Lake, IL
Lily Lake is a small town located in Illinois with a population of 1,432 residents according to the latest US Census Bureau American Community Survey data. The median household income is $145,192 per year, which is 93% above the national median of $75,149. The median age of 44.2 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 Lily Lake features a median home value of $379,300, which is 55% above the national median of $244,900. This places Lily Lake in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,438, 24% above the national average of $1,163/month. Of the 454 total housing units, 98% are owner-occupied (447 units) and 2% are renter-occupied (7 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Lily Lake shows an unemployment rate of 8.2%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 0.6%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Lily Lake have an average one-way commute time of 31.9 minutes.
Education & Demographics
38.5% of Lily 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 3.0% White, 0.1% Hispanic or Latino, 0.3% Black or African American, and 1.0% Asian residents, with 2.9% of the population being foreign-born.
Cost of Living in Lily Lake, IL
Compared to national averages, Lily Lake has a median household income of $145,192 (93% above the national median of $75,149). Home values average $379,300, which is 55% above the national median. Monthly rent at $1,438 is 24% above the US average of $1,163. Within Illinois, Lily Lake's income is 93% above the state average of $75,072, and home values are 129% above the state median of $165,779.
Why Live in Lily Lake, IL?
Lily Lake offers a strong local economy with a median household income of $145,192, well above the national average, and a well-educated community where 38.5% of residents hold a bachelor’s degree or higher, and a low poverty rate of 0.6%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $379,300. However, Lily Lake’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lily Lake has a population of 1,432 with a median age of 44.2 years. Compare Lily Lake with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Lily Lake
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Albers | 1,428 | $116,691 | $209,000 | Compare |
| East Dubuque | 1,427 | $62,313 | $146,800 | Compare |
| Cerro Gordo | 1,426 | $69,118 | $108,000 | Compare |
| Warren | 1,439 | $73,500 | $104,900 | Compare |
| Mazon | 1,424 | $76,458 | $203,100 | Compare |
| Barry | 1,442 | $66,017 | $88,600 | Compare |
| Waterman | 1,419 | $97,386 | $212,900 | Compare |
| Dunlap | 1,448 | $137,240 | $283,800 | 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 Lily Lake With Other Cities
Frequently Asked Questions about Lily Lake
What is the population of Lily Lake, IL?
The population of Lily Lake, IL is 1,432 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 Lily Lake?
The median household income in Lily Lake, IL is $145,192 per year, which is 93% above the national median of $75,149.
What is the median home value in Lily Lake?
The median home value in Lily Lake, IL is $379,300, which is 55% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lily Lake?
The median monthly rent in Lily Lake, IL is $1,438, which is 24% above the national average of $1,163/month.
What is the unemployment rate in Lily Lake?
The unemployment rate in Lily Lake, IL is 8.2%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Lily Lake, IL a good place to live?
Lily Lake offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 1,432 and a median age of 44.2, the city appeals to a broad range of residents.
How educated is Lily Lake, IL?
38.5% of residents in Lily 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 Lily Lake?
Key cost-of-living indicators for Lily Lake, IL: median home value is $379,300 (55% above national), median rent is $1,438/month, and median household income is $145,192. The home-value-to-income ratio is 2.6x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Lily Lake?
The poverty rate in Lily Lake, IL is 0.6%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Lily Lake, IL?
Lily Lake's population is 3.0% White, 0.1% Hispanic or Latino, 0.3% Black or African American, 1.0% Asian, and 0.0% two or more races. 2.9% of residents are foreign-born.