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CITY

Third Lake

Illinois · 1,103 residents (2025 est.) · 0.588 sq mi
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The short version

Third Lake is significantly wealthier than the US average, with a median household income of $150,139. Population has fallen 16% since 2000, a loss of 218 residents. 69% of adults hold a bachelor's degree or higher, well above the national rate of 36%. Median home value has risen by half since 2000, reaching $361,500. With a median age of 52.2, the population is older than the US median of 38.9. It ranks in the top 5% of US cities for household income.

At a glance
Wealthier
above the US median
US median: $82,259
Older
median age 52.2
US median: 38.9
More educated
69% hold a bachelor's degree
US average: 36%
More affordable
home values down 6%, inflation adjusted
US median home: $376,019
Section 01

Population & growth

Total population
1,137
−16%since 2000
from 1,355 in 2000
1990 – 2025
Population density
1,934 / sq mi
−16%since 2000
from 2,304 / sq mi in 2000
US average: 281
Median age
52.2
+42%since 2000
from 36.8 in 2000
US average: 38.9

PEP 2025 EST:1,103 residents (Census Bureau Vintage 2025, released March 2026)

Population, 1990 – 2024
1K1K1K2K2K1990201020202024Third Lake
20241K
1990201020202024
Section 02

Income & economy

Median household income
$150,139
−15%inflation adjusted, since 2000
from $96,719 in 2000
US average: $82,259
1990 – 2024
Per capita income
$67,094
+92%since 2000
from $34,921 in 2000
US average: $44,673
Households earning $100K+
84.7%
+4.7 ptssince 2009
from 80.0% in 2009
US average: 53.3%
Poverty rate
2.0%
−0.7 ptssince 2000
from 2.7% in 2000
US average: 12.5%
Income inequality (Gini)
0.324
+5%since 2010
from 0.308 in 2010
US average: 0.476
Workforce by industry, 2024
Retail trade12.4%
US avg: 9.9%
Other services9.5%
US avg: 6.7%
Public administration7.3%
US avg: 4.8%
Wholesale trade6.5%
US avg: 6.9%
Information6.3%
US avg: 10.8%
Finance & insurance6.2%
US avg: 5.9%
Professional, scientific, technical6.2%
US avg: 5.1%
Transportation & warehousing3.2%
US avg: 2.2%
Agriculture, forestry, fishing0%
US avg: 1.6%
Construction0%
US avg: 1.2%
Manufacturing0%
US avg: 0.4%
Education & health services0%
US avg: 0.9%
Arts, entertainment, food0%
US avg: 1.9%
BARS: THIS PLACE · TICKS: US AVERAGE
Section 03

Housing

Median home value
$361,500
−6%inflation adjusted, since 2000
from $211,000 in 2000
US average: $376,019
1990 – 2024
Owner-occupied
99.1%
+2.9 ptssince 2000
from 96.3% in 2000
0.9% rent
Vacancy rate
3.7%
+0.2 ptssince 2009
from 3.6% in 2009
US average: 10.0%
Owner cost-burdened
19.4%
−4.2 ptssince 2009
from 23.6% in 2009
US average: 22.9%
Renter cost-burdened
0.0%
−38.9 ptssince 2009
from 38.9% in 2009
US average: 47.4%
Afford Score
2.4
+10%since 2000
from 2.2 in 2000
1990 – 2024
Gentrification Score
29
RELATED:See current rent listings in Third Lake on RentDataNow
Section 04

Race & ethnicity

2000
White, non-Hispanic93.5%(1,267)
Black0.4%(5)
Hispanic / Latino3.3%(45)
Asian1.7%(23)
Other0%
Diversity Score13.1%(177)
2024
White, non-Hispanic82.2%(935)
Black0.1%(1)
Hispanic / Latino11.7%(133)
Asian2.2%(25)
Other3.8%(43)
Diversity Score38.5%(438)
Diversity Score
39
+195%since 2000
from 13 in 2000
1990 – 2024
Section 05

Education

Bachelor's degree or higher
69.1%
+14.2 ptssince 2000
from 54.9% in 2000
US average: 35.6%
High school or higher
98.7%
+1.3 ptssince 2000
from 97.4% in 2000
US average: 89.6%
Graduate degree
29.9%
+6.9 ptssince 2000
from 23.0% in 2000
US average: 14.0%
Section 06

Commute & transportation

Average commute
29.8 min
+30%since 2000
from 22.9 min in 2000
US average: 26.5
Drive alone to work
67.1%
−14.9 ptssince 2009
from 82.0% in 2009
US average: 68.9%
Carpooled to work
5.8%
−0.6 ptssince 2009
from 6.5% in 2009
US average: 8.5%
Public transit
3.2%
−1.6 ptssince 2009
from 4.7% in 2009
US average: 3.2%
Worked from home
20.9%
+16.0 ptssince 2009
from 4.8% in 2009
US average: 15.0%
Walked to work
2.7%
+2.7 ptssince 2009
from 0.0% in 2009
US average: 2.4%
Biked to work
0.0%
Unchangedsince 2009
from 0.0% in 2009
US average: 0.4%
No vehicle available
1.1%
−0.1 ptssince 2009
from 1.2% in 2009
US average: 8.3%
Section 07

Work & employment

Unemployment rate
2.3%
−4.8 ptssince 2011
from 7.1% in 2011
US average: 5.2%
Labor force participation
62.7%
−20.2 ptssince 2011
from 82.9% in 2011
US average: 63.5%
Self-employed
18.7%
+5.2 ptssince 2009
from 13.5% in 2009
US average: 13.1%
Management & professional
52.4%
−20.7 ptssince 2009
from 73.1% in 2009
US average: 42.5%
Section 08

People & community

Male
54.4%
+1.9 ptssince 2009
from 52.5% in 2009
Female
45.6%
−1.9 ptssince 2009
from 47.5% in 2009
Foreign born
7.1%
+3.0 ptssince 2009
from 4.1% in 2009
US average: 14.1%
Veterans
4.2%
−47.3 ptssince 2009
from 51.6% in 2009
US average: 6.2%
With a disability
6.2%
+2.4 ptssince 2012
from 3.8% in 2012
US average: 13.3%
Uninsured
0.4%
−96.0 ptssince 2013
from 96.4% in 2013
US average: 8.4%
Broadband at home
100.0%
+3.4 ptssince 2017
from 96.6% in 2017
US average: 91.0%
English only at home
89.3%
−4.4 ptssince 2016
from 93.7% in 2016
US average: 77.7%
Spanish at home
3.7%
+1.9 ptssince 2016
from 1.8% in 2016
US average: 13.6%
Drill deeper

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Head to head

Compare Third Lake to nearby cities

THIRD LAKE VS
Gages Lake
Income$103,318−31%
Home value$310,500−14%
Population10,819+881%
SEE FULL COMPARISON →
THIRD LAKE VS
Grayslake
Income$113,972−24%
Home value$309,500−14%
Population21,140+1817%
SEE FULL COMPARISON →
THIRD LAKE VS
Lindenhurst
Income$131,474−12%
Home value$294,100−19%
Population14,810+1243%
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THIRD LAKE VS
Gurnee
Income$119,628−20%
Home value$344,300−5%
Population30,458+2661%
SEE FULL COMPARISON →
Frequently asked

How many people live in Third Lake, Illinois?

Third Lake, Illinois has about 1,137 residents according to the 2024 American Community Survey.

What is the median household income in Third Lake, Illinois?

The typical household in Third Lake, Illinois earns about $150,139 a year. Half of households make more than that, and half make less.

Is Third Lake, Illinois expensive?

In Third Lake, Illinois, the median home is worth about $361,500.

How educated are people in Third Lake, Illinois?

About 69.1% of adults age 25 and over in Third Lake, Illinois hold a bachelor's degree or higher.

What is the poverty rate in Third Lake, Illinois?

About 2.0% of people in Third Lake, Illinois live below the federal poverty line.

Has Third Lake, Illinois grown since 1990?

Yes, Third Lake, Illinois has shrunk since 1990. The population has lost about 111 residents, a change of about -9 percent over that period.

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DATA: US CENSUS BUREAU ACS 5-YEAR + DECENNIAL CENSUS · UPDATED 2024

How we source and harmonize this data →