Home Insurance in Lake Forest, Illinois
Homes in Lake Forest carry a median value of $938,300 - 171% higher than the Lake County median.
The typical home in Lake Forest was built around 1976. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 31% of homes were built before 1960, about 10 points above Lake County's 21%.
Housing in Lake Forest breaks down to 83% single-family homes and 13% apartments in buildings with 5+ units.
About 56% of owner-occupied homes in Lake Forest have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Lake Forest has an owner-occupancy rate of 89% and a vacancy rate of 5%; unoccupied homes typically need a different coverage form.
84% of homes in Lake Forest are primarily heated with natural gas.
Lake County had 2,078 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is tornado (Very High). See the full Lake County home insurance overview for all FEMA hazard ratings and flood coverage details.
In Illinois, the statewide average premium for a standard HO-3 homeowners policy is $1,480 per year (NAIC, 2023 data).
Key figures
| Median home value | $938,300 |
|---|---|
| Median year built | 1976 |
| Owner-occupied share | 89% |
| Share of owner-occupied homes with a mortgage | 56% |
| Top county hazard | Tornado (Very High) |
| Active NFIP policies in Lake County | 2,078 |
| Home insurance premium | $1,480 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)