Everything You Should Know Before Moving to Third Lake, IL
Considering a move to Third Lake, IL? This quiet village of 1,155 residents offers high homeownership, with a median home price around $345,000 and average rents near $1,800. Crime rates are very low, and the area is known for its excellent local schools and high educational attainment. Residents enjoy a reasonable cost of living, easy access to nearby healthcare, and a relaxed suburban lifestyle with plenty of sunny days. If you're looking for peace, top-rated schools, and convenient commutes to the Chicago metro, Third Lake is a great choice.
Demographics - Third Lake, IL
Demographics - Third Lake, IL
Third Lake is a small, close-knit community of 1,155 people, with a median age of about 45 and a predominantly White population. The area features a balanced gender ratio and a modest proportion of non-English speakers, contributing to its friendly and inclusive environment.
Population:
1,155
Density:
1,300 per sq mi
Median Age:
44.7
Gender Ratio:
102 males per 100 females
Non-English Speakers Percentage:
9.5%
Ethnic Composition
White:
86.8%
Black:
1.8%
Asian:
5.7%
Others:
5.7%
Cost Of Living
What is the average cost of living in Third Lake, IL?
Living in Third Lake is moderately above the national average, with a cost of living index of 107.1. Homes typically cost around $345,000, while monthly rents average $1,800, making it an attractive option for those seeking suburban comfort near Chicago.
Median House Value:
$345,000
Gross Rent:
$1,800
Monthly Electricity Charges:
$105
Auto Insurance:
$1,180
House Owner Cost With Mortgage:
$2,050
House Owner Cost Without Mortgage:
$660
State Taxes:
Low:
4.95%
|
High:
4.95%
Cost Of Living Index:
107.1
Grocery:
101.0
Housing:
109.5
Utilities:
98.5
Transportation:
104.0
Health Care:
96.8
Miscellaneous:
99.0
Crime
Is Third Lake, IL a safe place to live?
Third Lake boasts a notably low crime rate, with only 73 violent crimes and 665 property crimes per 100,000 residents. Residents enjoy a strong sense of safety, with the chance of experiencing violent crime at just 1 in 1,370.
Violent Crimes Per 100k:
73
Property Crimes Per 100k:
665
Crime Index:
738
Chance Of Violent Crime:
1 in 1,370
Chance Of Property Crime:
1 in 150
Weather
What is the weather like in Third Lake, IL year-round?
Residents of Third Lake experience all four seasons, with cold winters dropping to 17°F and warm summers reaching up to 83°F. The area enjoys about 53% sunny days annually and receives roughly 36.5 inches of rainfall each year.
Winter
Min:
17°F
Max:
32°F
Spring
Min:
38°F
Max:
62°F
Summer
Min:
62°F
Max:
83°F
Fall
Min:
41°F
Max:
64°F
Average Rainfall Inches:
36.5 inches
Sunny Days Percentage:
53%
Neighbors
The community is affluent and well-educated, with a median household income of $123,000 and over 56% of adults holding a bachelor’s degree or higher. Low poverty and unemployment rates foster a stable, family-friendly atmosphere.
Median Income:
$54,000
Household Income:
$123,000
Family Income:
$140,000
Per Capita Income:
$51,500
Income Male:
$65,000
Income Female:
$49,500
Poverty Rate:
2.5%
Non English Speakers:
9.5%
Rent:
$1,800
Unemployment Rate:
3.7%
Public Transport Usage:
4.2%
Commute Time:
33.2 minutes
Education
High School or Higher:
97.1%
Bachelors or More:
56.0%
Education
How are the schools in Third Lake, IL?
Third Lake is served by highly regarded public and private schools, such as Woodland Elementary East and Grayslake Central High School, as well as nearby College of Lake County just 4 miles away. The area’s strong educational offerings and favorable student-teacher ratios appeal to families seeking academic excellence.
Public Schools
Name:
Woodland Elementary East School
Street:
17261 W Gages Lake Rd
Phone:
847-984-8700
Students:
850
Student Teacher Ratio:
16.5
Name:
Grayslake Central High School
Street:
400 N Lake St
Phone:
847-986-3300
Students:
1,450
Student Teacher Ratio:
15.4
Private Schools
Name:
St. Gilbert Catholic School
Street:
231 E Belvidere Rd
Phone:
847-223-8600
Students:
350
Colleges
Name:
College of Lake County
City:
Grayslake
State:
IL
Distance:
4 miles
Students:
13,000
Healthcare
Third Lake offers convenient access to major hospitals like Advocate Condell Medical Center and Vista Medical Center East. With 2.5 physicians per 1,000 residents and over 95% health insurance coverage, healthcare services are both accessible and comprehensive.
Major Hospitals
Name:
Advocate Condell Medical Center
Address:
801 S Milwaukee Ave, Libertyville, IL 60048
Phone:
(847) 362-2900
Type:
General & Surgical
Emergency Services:
Yes
Name:
Vista Medical Center East
Address:
1324 N Sheridan Rd, Waukegan, IL 60085
Phone:
(847) 360-3000
Type:
General & Surgical
Emergency Services:
Yes
Physicians Per 1000:
2.5
Health Insurance Coverage:
95.4%
Health Care Index:
79.2
Housing Market
What is the housing market like in Third Lake, IL?
The housing market in Third Lake is stable, with a median home price of $345,000 and a high owner-occupancy rate of 97.5%. Low foreclosure and rental vacancy rates, along with steady home appreciation, make it a secure place to invest in property.
Median Home Price:
$345,000
Average Rent For 2 Bedroom:
$1,800
Owner Occupied Rate:
97.5%
Rental Vacancy Rate:
3.2%
Home Appreciation Rate (1yr):
4.7%
New Construction Rate:
0.8%
Foreclosure Rate:
0.3%
DMV Information
Local residents can access DMV services through the Illinois Secretary of State office in nearby Waukegan, ensuring convenient handling of driver licensing and vehicle registration needs.
State:
Illinois
Department:
Illinois Secretary of State – Driver Services
Address:
617 S. Green Bay Road, Waukegan, IL 60085
Phone:
312-793-1010
Website:
Disclaimer: The information provided on this page is based on publicly available sources including AccuWeather, U.S. Census Bureau, local government data, and third-party partners such as Neustar. While we strive to ensure accuracy, all data is provided “as is” and should be independently verified before making any decisions. Movers.com makes no guarantees regarding the completeness or reliability of the information.