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Foreclosure Homes in Forest Lake, IL

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Home Value Estimator For Forest Lake, IL

There are currently 1 real estate properties in Forest Lake, IL, with a median automated valuation model (AVM) price of $311,800.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Forest Lake, IL, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Forest Lake, IL, is $311,800.00, with the most expensive house in Forest Lake, IL, topping out at $311,800.00 and the cheapest home in Forest Lake, IL, clocking in at $311,800.00. In other words, there’s something for every potential homebuyer or savvy investor in Forest Lake, IL!


Rent Prices In Forest Lake, IL

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Forest Lake, IL, is on a rollercoaster ride. The average rent price in Forest Lake, IL, is $2,100.00. Indeed, when looking to rent in Forest Lake, IL, you can expect to pay as little as $2,100.00 or as much as $2,100.00, with the average rent median estimated to be $2,100.00. The good news is that finding an affordable and desirable property to rent in Forest Lake, IL -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.


Foreclosure Homes in Forest Lake, IL

Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Forest Lake, IL area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Forest Lake, IL and much more. Save thousands at closing with home foreclosure listings in Forest Lake, IL — up to 75% off market value!


Top Reasons To Live In Forest Lake, IL In 2021

Forest Lake is located in Lake, Illinois, with an estimated municipal population of 1,327 residents. All of the best foreclosed homes for sale in Forest Lake are located in the following zip code areas on Foreclosure.com: 60047. The estimated population per square kilometer (.62 miles) in Forest Lake is 1,457.


Cost Of Living In Forest Lake, IL

So, about how much do homes cost in Forest Lake? The most recent median value of resident-owned homes in Forest Lake is 321,229. An estimated 98.2 percent of households in Forest Lake own their homes, with an average family size of 2.72. The median household income in Forest Lake is 125,096, with62.8 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Forest Lake, the median commute time of resident workers (in minutes) is 27.8.


Diversity And Demographics In Forest Lake, Illinois

Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Forest Lake, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.

The median age of residents in Forest Lake is 42.5, split between 54 percent male versus 46 female. The percentage of residents who report being married in Forest Lake is 74.8, with an average family size of 2.72.

The percentage of residents who report their race in Forest Lake is as follows:

White 92.8%
Black / African American 2.6%
Asian 3.7%
American Indian / Alaskan Native 0%
Native Hawaiian / Other Pacifc Islander 0%
Multi-racial 1%
Other 0%

Looking for family-friendly neighborhoods in and/or near Forest Lake? Or maybe you are searching for 55+ active adult communities in and/or near Forest Lake?

The percentage of residents who report their age in Forest Lake is as follows:

Under 10 17.6%
Aged 10-19 5.9%
20s 7.6%
30s 18%
40s 12.6%
50s 18.3%
60s 15.4%
70s 4.5%
80+ 0%

Best Schools In Forest Lake, Illinois

It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Forest Lake with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Forest Lake.


Pros And Cons Of Living In Forest Lake, Illinois

How do you know that living in -- or moving to -- Forest Lake is right where you need to be? Perhaps you grew up in Forest Lake or already live nearby; therefore, the decision to buy a home in Forest Lake is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Forest Lake for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.

Here are some questions to ask yourself when shopping for foreclosed homes for sale in Forest Lake:

  • What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
  • What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
  • What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
  • What type of commute (car, plane, home office) do you seek?

In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Forest Lake.


Reasons To Move To Forest Lake, Illinois, In 2021

Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Forest Lake can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Forest Lake, meanwhile, can field multiple offers from more qualified buyers.

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Listing types in Forest Lake, IL

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