Lake Summerset, IL Profile: Facts & Data

The Lake Summerset Census Designated Place had a population of 2,037 as of July 1, 2020.

The primary coordinate point for Lake Summerset is located at latitude 42.4545 and longitude -89.3896 in Winnebago County. The formal boundaries for the Lake Summerset Census Designated Place encompass a land area of 2.06 sq. miles and a water area of 0.44 sq. miles. Winnebago County is in the Central time zone (GMT -6). The elevation is 860 feet.

While the primary coordinates for Lake Summerset Census Designated Place are located in Winnebago County, it should be noted that the formal boundaries for this community also extend into and Stephenson County.

The Lake Summerset Census Designated Place (GNIS ID: 2393085) has a U1 Census Class Code which indicates a census designated place with an official federally recognized name. It also has a Functional Status Code of "S" which identifies a statistical entity.

Lake Summerset, IL Data & Demographics (As of July 1, 2020)

POPULATION
Total Population	2,037 (100%)
Population in Households	2,037 (100.0%)
Population in Families	1,775 (87.1%)
Population in Group Quarters¹	0
Population Density	990
Diversity Index²	17


INCOME
Median Household Income	$63,993
Average Household Income	$82,018
% of Income for Mortgage⁴	10%
Per Capita Income	$35,038
Wealth Index⁵	117

HOUSING
Total HU (Housing Units)	1,345 (100%)
Owner Occupied HU	788 (58.6%)
Renter Occupied HU	98 ( 7.3%)
Vacant Housing Units	459 (34.1%)
Median Home Value	$158,333
Average Home Value	$198,541
Housing Affordability Index³	187

HOUSEHOLDS
Total Households	886
Average Household Size	2.3
Family Households	674
Average Family Size	3

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.

Lake Summerset, IL - Peer Comparisons by Rank and Percentile

The table below compares Lake Summerset to the other 1,369 incorporated cities, towns and CDPs in Illinois by rank and percentile using July 1, 2020 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.

GROWTH RATE / YEAR	2010-2020	2020-2025
Population	-0.05%	7.49%
Households	0.21%	7.58%
Families	-0.03%	7.53%
Median Household Income		0.73%
Per Capita Income		3.07%
Owner Occupied HU		8.43%

Variable Description	Rank	Percentile
Total Population	# 506	63rd
Population Density	# 739	46th
Median Household Income	# 489	64th
Housing Affordability Index	# 388	28th
Per Capita Income	# 339	75th
Diversity Index	# 580	58th

Lake Summerset, IL Profile: Facts & Data

Lake Summerset, Illinois - Basic Facts

Lake Summerset, IL Data & Demographics (As of July 1, 2020)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Lake Summerset, IL - Peer Comparisons by Rank and Percentile

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