Lake Forest California City Guide

Between 2010-2018, Lake Forest experienced a steady population growth and grew from 76,724 to almost 83,000. The 10 year growth rate is 7.46%, and the annual growth rate is 1.07%.

An estimated 42,086 residents are women, which equals 51% of the population. Another 40,825 residents are men, which accounts for 49% of the population.

The median resident age is 39. Almost 25% of residents are under 20 years old, while about 6% of residents are 20-24. Another 17% of the population is between 25-34, while 28% of residents are 35-54. About 12% of the population is between 55-64, while another 12% is over 64.

An estimated 67.3% of Lake Forest residents are White alone. An additional 17.1% of residents identify as Asian. About 5% of residents are biracial or multiracial, and 2% of residents are Black or African American. Meanwhile, 7.1% of residents belong to other ethnic backgrounds.

68% of the population only speaks English, while almost 16% of residents are fluent in Spanish. 3% of residents speak another Indo-European language. Also, 2.7% of residents speak Chinese, Cantonise, or Mandarin.

About 24% of the population was born outside of the U.S., which is slightly under California’s average. However, this city’s percentage tracks well over the national average of 13%.

Lake Forest students can attend 7 public elementary schools, 2 middle schools, and 1 high school within the city.

About 92% of Lake Forest residents over 25 years old have a high school diploma or GED. Another 23% of the population has attended some college courses. Meanwhile, 8.6% of the population has earned an associate’s degree.

About 47% of Lake Forest residents hold a bachelor’s degree. Another 16.8% of the city’s population over 25 years old has earned a master’s degree or a professional degree.

Lake Forest’s estimated high school dropout rate is 8%, which tracks 4% under the U.S. average and 9% under the statewide average.

The estimated median property value in Lake Forest sits at $716K, which isn’t too impressive in California, but is still among the highest median property values in the country.

42.4% of Lake Forest real estate varies between $607K-$910K, and 18.6% range from $910K-$1.2 million. Another 2.8% of properties are priced above $1.2 million. 11.7% of real estate varies between $485K-$607K, and 10.6% of properties are worth between $365K-$485K. 5.5% of real estate ranges between $243K-$364K, and another 8.4% of real estate is valued under $243K.

In the 10 year span between December 2009 and December 2019, real estate in the city appreciated a total of 59.17%, which can be broken down into an average rate of 4.76%. This number places Lake Forest’s real estate appreciation in the top 10% nationally, which signals that investing in Lake Forest property typically pays off.

Out of around 28,000 housing options in the city, 69% of properties are owner-occupied, and 31% of residences are rented. The vacancy rate tracks around 3.5%.

54.3% of properties are single family type residences, and 20.5% of properties are apartment complexes. 15.6% of residences in Lake Forest are condominiums and attached properties, and around 10% of the remaining options are small apartment buildings.

An estimated 85.1% of properties were constructed between 1970-1999, and another 9.1% of properties are older, having been built between 1940-1969. Less than 1% of housing options were built in or before 1939, and around 5.4% of residences were constructed after the turn of the 21st century.

12.5% of properties only have 1 bedroom, and 25.6% have 2 bedroom layouts. 30.1% of residences have 3 bedrooms, and 26% of options have 4 bedrooms. 5.8% of properties are even larger and have 5 or more bedrooms.

Lake Forest residents have an average salary of $85K. The city’s median household income is about $104K, and the per capita income tracks around $45K.

Less than 5% of residents earn below $15K annually, and about 16% of the population earns between $15K-$35K each year. 13% of residents make between $35K-$50K, and another 13% earn between $50K-$65K.

From there, about 8% of the city’s population earns between $65K-$75K, while almost 15% earns between $75K-$100K. An additional 31% of residents make more than $100K each year.

The city’s unemployment rate falls under 5%, and an estimated 7.1% of Lake Forest residents live in poverty.