Lake Forest real estate market overview
- Average Monthly Rent: $2,762
- Home Price/Value Percentage Change: 0.30%
- Median Home Value: $1,004,717
- Best Time To Sell a Home: April
- Affordability Index: Low
- Days To Sell a House: 55
- Job Market: Fair
- Public School Ranking: 40
Location and weather
The city of Lake Forest rests in the middle of Orange County and Saddleback Valley. Serrano Creek park is one of the larger parks in Lake Forest, where outdoor recreation is a way of life. Originally a ranch and agricultural community, Lake Forest has become a diversified market close to the Orange County Airport and Amtrak station.
Lake Forest's climate is a typical temperate California climate, with beautiful summers and long winters. The high temperatures in the summer range from the 70's to the low 60's. The winter temperatures are in the 60's, with lows in the high 40's.
Population, job market and cost of living
The population of Lake Forest in 2023 is 88,435, with a growth rate of 0.98%.
The job growth has decreased by -9.6% and in ten years, is predicted to have increased by 34.79%. The largest industries are in professional, scientific, technical service, finance, insurance, computers and electronic products. The major employers are Panasonic Avionics, Aprilia Healthcare, IoanDepot, Del Taco Restaurants and ARB Inc. The city takes a proactive role in expanding existing businesses and encouraging entrepreneurial activity. There are many outdoor recreation opportunities as well. Lake Forest's 32 public parks, and the Whiting Ranch Regional Wilderness Park, offer acres of land ideal for outdoor activities.
The cost of living is high, due to the Lake Forest real estate market and high cost of housing. With the feel of a smaller city and the nearby amenities of Los Angeles, job opportunities in a variety of industries, and temperate climate, Lake Forest will continue to attract more people to this suburban community.
Lake Forest real estate market details
- Rancho de los Alisos
- Foothill Ranch
- Portola Center
- Serrano Highlands
There has been an 0.3% increase in median home value over the last year. As of 2023, the median home value is $1,004,717.
The best time to sell a home for the highest valued sale is during April. For the quickest sale, homeowners should sell in June.
The affordability index in Lake Forest is 165. This number indicates low affordability in this city.