Tower Lakes, IL
Population 1,148 · Illinois
About Tower Lakes, IL
Tower Lakes is a small town located in Illinois with a population of 1,148 residents according to the latest US Census Bureau American Community Survey data. The median household income is $172,656 per year, which is 130% above the national median of $75,149. The median age of 48.8 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 Tower Lakes features a median home value of $495,900, which is 102% above the national median of $244,900. This places Tower Lakes in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $2,375, 104% above the national average of $1,163/month. Of the 459 total housing units, 97% are owner-occupied (423 units) and 3% are renter-occupied (12 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Tower Lakes shows an unemployment rate of 3.3%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 3.0%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Tower Lakes have an average one-way commute time of 37.7 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
77.8% of Tower Lakes 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 1.7% White, 2.3% Hispanic or Latino, 0.0% Black or African American, and 2.2% Asian residents, with 8.2% of the population being foreign-born.
How Tower Lakes Ranks in Illinois
Cost of Living in Tower Lakes, IL
Compared to national averages, Tower Lakes has a median household income of $172,656 (130% above the national median of $75,149). Home values average $495,900, which is 102% above the national median. Monthly rent at $2,375 is 104% above the US average of $1,163. Within Illinois, Tower Lakes's income is 130% above the state average of $75,072, and home values are 199% above the state median of $165,779.
Why Live in Tower Lakes, IL?
Tower Lakes offers a strong local economy with a median household income of $172,656, well above the national average, and a strong job market with an unemployment rate of just 3.3%, and a well-educated community where 77.8% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 3.0%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $495,900. However, Tower Lakes’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Tower Lakes has a population of 1,148 with a median age of 48.8 years. Compare Tower Lakes with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Tower Lakes
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Forreston | 1,148 | $68,042 | $116,500 | Compare |
| Newark | 1,152 | $129,688 | $234,800 | Compare |
| Kingston | 1,156 | $81,806 | $212,300 | Compare |
| Greenfield | 1,137 | $70,469 | $97,600 | Compare |
| Milford | 1,136 | $45,000 | $65,300 | Compare |
| Chatsworth | 1,161 | $61,731 | $103,000 | Compare |
| Edinburg | 1,163 | $95,292 | $111,300 | Compare |
| Marissa | 1,133 | $48,393 | $87,000 | 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 Tower Lakes With Other Cities
Frequently Asked Questions about Tower Lakes
What is the population of Tower Lakes, IL?
The population of Tower Lakes, IL is 1,148 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 Tower Lakes?
The median household income in Tower Lakes, IL is $172,656 per year, which is 130% above the national median of $75,149.
What is the median home value in Tower Lakes?
The median home value in Tower Lakes, IL is $495,900, which is 102% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Tower Lakes?
The median monthly rent in Tower Lakes, IL is $2,375, which is 104% above the national average of $1,163/month.
What is the unemployment rate in Tower Lakes?
The unemployment rate in Tower Lakes, IL is 3.3%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Tower Lakes, IL a good place to live?
Tower Lakes offers above-average incomes, a competitive housing market, and a strong job market. With a population of 1,148 and a median age of 48.8, the city appeals to established professionals and retirees.
How educated is Tower Lakes, IL?
77.8% of residents in Tower Lakes 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 Tower Lakes?
Key cost-of-living indicators for Tower Lakes, IL: median home value is $495,900 (102% above national), median rent is $2,375/month, and median household income is $172,656. The home-value-to-income ratio is 2.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Tower Lakes?
The poverty rate in Tower Lakes, IL is 3.0%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Tower Lakes, IL?
Tower Lakes's population is 1.7% White, 2.3% Hispanic or Latino, 0.0% Black or African American, 2.2% Asian, and 1.0% two or more races. 8.2% of residents are foreign-born.