Tower Lake, IL Profile: Facts & Data

Tower Lake, Illinois - Basic Facts

The Village of Tower Lakes had a population of 1,197 as of July 1, 2024.

The primary coordinate point for Tower Lake is located at latitude 42.232 and longitude -88.152 in Lake County. The formal boundaries for the Village of Tower Lakes encompass a land area of 0.91 sq. miles and a water area of 0.13 sq. miles. Lake County is in the Central time zone (GMT -6).

The Village of Tower Lakes has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The Village of Tower Lakes is located within Township of Cuba, a minor civil division (MCD) of Lake County.

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Tower Lake, IL Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	1,197 (100%)
Population in Households	1,197 (100.0%)
Population in Families	1,089 (91.0%)
Population in Group Quarters¹	0
Population Density	1,303
Diversity Index²	33


INCOME
Median Household Income	$161,783
Average Household Income	$228,032
% of Income for Mortgage⁴	21%
Per Capita Income	$79,249
Wealth Index⁵	246
Socioeconomic Status Index⁶	High (72.0)

HOUSING
Total HU (Housing Units)	439 (100%)
Owner Occupied HU	391 (89.1%)
Renter Occupied HU	25 ( 5.7%)
Vacant Housing Units	23 ( 5.2%)
Median Home Value	$530,197
Average Home Value	$558,440
Housing Affordability Index³	99

HOUSEHOLDS
Total Households	416
Average Household Size	2.88
Family Households	344
Average Family Size	3.00

HOUSING

Total HU (Housing Units)

439 (100%)

Owner Occupied HU

391 (89.1%)

Renter Occupied HU

25 ( 5.7%)

Vacant Housing Units

23 ( 5.2%)

Median Home Value

$530,197

Average Home Value

$558,440

Housing Affordability Index³

HOUSEHOLDS

Total Households

416

Average Household Size

2.88

Family Households

344

Average Family Size

3.00

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR	2020-2024	2024-2029
Population	-0.56%	-0.85%
Households	-0.11%	-0.24%
Families		-0.35%
Median Household Income		0.87%
Per Capita Income		2.37%
Owner Occupied HU		0.15%

GROWTH RATE / YEAR

2020-2024

2024-2029

Population

-0.56%

-0.85%

Households

-0.11%

-0.24%

Families

-0.35%

Median Household Income

0.87%

Per Capita Income

2.37%

Owner Occupied HU

0.15%

Tower Lake, IL - Peer Comparisons by Rank and Percentile

The table below compares Tower Lake to the other 1,462 incorporated cities, towns and CDPs in Illinois by rank and percentile using July 1, 2024 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description	Rank	Percentile
Total Population	# 634	57th
Population Density	# 515	65th
Median Household Income	# 29	98th
Housing Affordability Index	# 339	23rd
Per Capita Income	# 32	98th
Diversity Index	# 474	68th

Variable Description

Rank

Percentile

Total Population

# 634

57th

Population Density

# 515

65th

Median Household Income

# 29

98th

Housing Affordability Index

# 339

23rd

Per Capita Income

# 32

98th

Diversity Index

# 474

68th

Illinois Census Data Comparison Tool

Tower Lake, IL Profile: Facts & Data

Tower Lake, Illinois - Basic Facts

Tower Lake, IL Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Tower Lake, IL - Peer Comparisons by Rank and Percentile

Tower Lake, IL - Most Popular Things to Do

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