Third Lake

Population: 1,203
Median household income: $150,893
Median home value: $329,500

Located in Lake County, Illinois, Third Lake is a community with a population of 1,203. Its median household income of $150,893 runs above the Lake County figure of $108,917.

From 2019 to 2023, Third Lake's population grew 11.5% from 1,079 to 1,203, while its median home value rose 23.2% from $267,400 to $329,500.

2.2% of residents live below the poverty line. Households average 2.44 people.

Demographics

ACS 2019–2023

Population: 1,203
Median age: 50.1 yrs
Median household income: $150,893
Median home value: $329,500
Median gross rent: —
Housing units: 501
Homeownership rate: 99.2%
Bachelor's degree or higher: 70.9%
Unemployment rate: 2.8%

Trends

ACS 5-year · 2019–2023

Population

1,0791,203

Median household income

$116,563$150,893

Median home value

$267,400$329,500

Median gross rent

$1,469$1,125

Year	Population	Median household income	Median home value	Median gross rent
2019	1,079	$116,563	$267,400	$1,469
2020	1,160	$135,021	$273,600	$1,469
2021	1,137	$141,000	$274,800	$1,125
2022	1,214	$152,593	$318,400	—
2023	1,203	$150,893	$329,500	—

Each year is a US Census Bureau ACS 5-year estimate ending that year.

Age distribution

Under 54.5%

5 to 1715.0%

18 to 246.0%

25 to 346.7%

35 to 4413.6%

45 to 5414.7%

55 to 6413.5%

65 to 7419.3%

75 and over6.7%

	Count	Share
Under 5	54	4.5%
5 to 17	181	15.0%
18 to 24	72	6.0%
25 to 34	80	6.7%
35 to 44	164	13.6%
45 to 54	177	14.7%
55 to 64	162	13.5%
65 to 74	232	19.3%
75 and over	81	6.7%

Race & ethnicity

	Count	Share
White (non-Hispanic)	997	82.9%
Black or African American	0	0.0%
American Indian & Alaska Native	0	0.0%
Asian	15	1.2%
Native Hawaiian & Pacific Islander	0	0.0%
Some other race	0	0.0%
Two or more races	23	1.9%
Hispanic or Latino (any race)	168	14.0%

Educational attainment (age 25+)

No high school diploma0.4%

High school graduate8.9%

Some college or associate's19.8%

Bachelor's degree35.3%

Graduate or professional degree35.6%

	Count	Share
No high school diploma	4	0.4%
High school graduate	80	8.9%
Some college or associate's	177	19.8%
Bachelor's degree	316	35.3%
Graduate or professional degree	319	35.6%

Commute to work

Mean travel time to work: 30 min

Drove alone75.6%

Carpooled6.5%

Public transit1.7%

Walked2.4%

Bicycle0.0%

Worked from home13.4%

Other means0.5%

How workers get to work

	Count	Share
Drove alone	445	75.6%
Carpooled	38	6.5%
Public transit	10	1.7%
Walked	14	2.4%
Bicycle	0	0.0%
Worked from home	79	13.4%
Other means	3	0.5%

Travel time

	Count	Share
Under 15 min	76	14.9%
15 to 29 min	221	43.3%
30 to 44 min	122	23.9%
45 to 59 min	27	5.3%
60+ min	64	12.5%

Households

Average household size: 2.44
Poverty rate: 2.2% (26 of 1,203)

	Count	Share
Family households	396	81.0%
Nonfamily households	93	19.0%

Housing

Median year structure built: 1985

Occupancy

	Count	Share
Occupied	489	97.6%
Vacant	12	2.4%

Tenure (of occupied units)

	Count	Share
Owner-occupied	485	99.2%
Renter-occupied	4	0.8%

1-unit, detached94.4%

1-unit, attached0.0%

2 to 4 units0.0%

5 to 19 units5.6%

20 or more units0.0%

Mobile home & other0.0%

Units in structure

	Count	Share
1-unit, detached	473	94.4%
1-unit, attached	0	0.0%
2 to 4 units	0	0.0%
5 to 19 units	28	5.6%
20 or more units	0	0.0%
Mobile home & other	0	0.0%

Geography

Place GEOID: 1775081
Type (LSAD): 47
Land area: 0.59 sq mi
Water area: 0.29 sq mi
Center point: 42.3698, -88.0091