Lake Forest California Income Charts

This section shows the Lake Forest California economy using the most recent economic analysis from the 2021 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Lake Forest depicts it has a Median earnings of $73,317 which is the second smallest in terms of median earnings per worker of all the other places in the surrounding region. The city with the highest median earnings per worker in the area is Irvine which depicts a median earnings of $86,899 (18.5% larger). Comparing median earnings per worker to the United States average of $50,459, Lake Forest is 45.3% larger. Also, compared to the state of California, median earnings per worker of $54,399, Lake Forest is 34.8% larger.

In Figure 2 a more complete view of income is shown which aggregates income from all members in the household and it has a Median household income of $112,988 which is in the mid point range of other places in the greater region. The city with the highest median household income in the area is Las Flores CDP-Orange County which indicates a median income of $146,250 (29.4% larger). Comparing median household income to the United States average of $64,994, Lake Forest is 73.8% larger. Also, measured against the state of California, median household income of $78,672, Lake Forest is 43.6% larger.

The next section examines a variety of different income statistics for the Lake Forest metropolitan area. In Figure 3 we see that it has the percentage of earnings less than $10,000 less than most other places in the local area at 4.8% of the total.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 38.8 which is the third most average hours of all other places in the greater Lake Forest region. The city with the highest average hours in the area is Rancho Santa Margarita which indicates an average hours of 39.2 ( only slightly larger). Dividing median annual worker earnings by the average number of hours worked in a year in Figure 6 shows that it has a Avg Hrly Earnings of $36.34 which is the second smallest as measured by average hourly earnings of all the other places in the local area. The city with the highest average hourly earnings in the area is Irvine which shows an average hourly earnings of $43.86 (20.7% larger). Comparing average hourly earnings to the United States average of $25.01, Lake Forest is 45.3% larger. Also, benchmarked against the state of California, average hourly earnings of $27.39, Lake Forest is 32.7% larger.

Figure 7 examines the number of self employed people in the Lake Forest metro area based on the number of people who reported any self employment income. Lake Forest depicts it has a Self Employed of 16.8% which is in the center range of other places in the local area. The city with the highest percentage of people self employed in the area is Las Flores CDP-Orange County which shows a percentage self employed of 23.6% (40.6% larger).

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-under 25 years the second smallest as measured by median income for those under 25 years of age of all the other places in the area at $116,617 of the total. Second, it has in the middle range of other places in the metropolitan area in order of median income-25 to 44 years at $134,804 of the total. Third, it has one of the largest proportions of median income-45 to 64 years at $73,542 of the total and is ranked #3. Only #2 Mission Viejo ($86,058), and #1 Las Flores CDP-Orange County ($118,158) are larger.

The next chart (Figure 11) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 16.9% which is in the mid point range of other places in the greater region. The city with the highest households with retirement income in the area is Laguna Woods which shows a households with retirement income of 40.9% (approximately 2.4 times bigger).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and it has one of the largest proportions of overall family income at $137,552 of the total and is ranked #3. Only #2 Rancho Santa Margarita ($152,791), and #1 Las Flores CDP-Orange County ($170,357) are larger. Second, it has in the mid range of other places in the local area in terms of white family income at $90,795 of the total. Third, it has one of the largest proportions of black family income at $52,574 of the total and is ranked #3. Only #2 Irvine ($74,286), and #1 Rancho Santa Margarita ($164,554) are larger. Also, it has in the center range of other places in the greater region in order of american indian family income at $133,333 of the total. In addition, it has less than most other places in the metro area when sorted by hawaiian family income at $95,224 of the total.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Lake Forest depicts it has the hightest cost of 266.4 for the cost of housing grouping.

Lake Forest California Labor Force Charts

The next two charts look at very recent, monthly trended employment related performance using data estimated by economists at the Bureau of Labor Statistics (BLS). The BLS tracks unemployment statistics for a large number of areas throughout the country on a month to month basis. However, not every location in the U.S. is tracked by the BLS so the chart will only show the closest location available (which may be the same location.) Figure 14 shows the monthly unemployment rate for the area as well as a comparison to the overall national economy measure for the United States. Note that in March to April 2020, the Covid 19 recession or great recession occurred and affects this metric. . It depicts that from January 2010 to before the disasterous COVID Pandemic the monthly unemployment rate went from 7.3% to 3.6% in March 2020. This represents a decrease in the monthly unemployment rate of 50.7%. Since that time, the monthly unemployment rate has gone to 2.6% This represents a decrease in the monthly unemployment rate of 27.8%. In Figure 15 the monthly labor force participation which are people actively looking for work are also defined as unemployed but do not include people who have given up looking for work. . It depicts that from January 2010 to before the Wuhan virus Pandemic the monthly labor force participation went from 43,136 to 48,631 in March 2020. This represents an increase in the monthly labor force participation of 12.7%. Since that time, the monthly labor force participation has gone to 48,249 This represents a decrease in the monthly labor force participation of very little.

The next two charts look at the annual unemployment rate/eligible for unemployment benefits and is based on the American Community survey. Figure 16 shows Lake Forest shows it has a Unemployment Rate of 3.4% which is is the uppermost of the places in the greater Lake Forest region. Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Lake Forest shows it has a Labor Force Participation of 70.1% which is the third most participation rates of all other places in the greater Lake Forest region.

The Components of Employment Status graph in Figure 18 shows the composition of the labor force broken down by employed, unemployed, and not in the labor force (but 16 years of age or older). Lake Forest has the largest proportion of employed at 3.4% of the total and is ranked #1.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Lake Forest depicts full time employees approximately 3.5 times bigger as the part time employees.

The next employment related data item is shown in Figure 21 which is the percentage of families with only a single earner in the greater Lake Forest area. Lake Forest depicts it has a Single Earner Families of 29.4% which is less than most other places in the local area. The city with the highest families with a single earner in the area is Laguna Hills which depicts a single earners rate of 35.7% (21.7% larger). The percentage of families with no one working is depicted in Figure 22. Lake Forest depicts it has a Families with No One Working of 11.1% which is in the mid point range of other places in the metro area. The city with the highest families with no one working in the area is Laguna Woods which shows a families with no worker of 72.0% ( very much bigger).

Lake Forest California Poverty Charts

The next section details economy analysis about poverty for residents of the Lake Forest community. This performance can be enhanced by government programs such as economic opportunity zone to influence manufacturing, job growth, economic opportunity an hopefully lead to economic recovery after the recent Covid 19 recession. In Figure 23 the total number of people earning less than the poverty level are shown. Lake Forest depicts it has a Total In Poverty of 5,480 which is the second most of all the places in the local area. The city with the highest total people earning less than the poverty level in the area is Irvine which shows a total people earning less than the poverty level of 33,217 ( appreciably bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Lake Forest indicates it has a Percent of Population In Poverty of 6.5% which is less than most other places in the local area. The city with the highest percent of people earning less than the poverty level in the area is Irvine which shows a percent of people in poverty of 12.6% (about twice as large).

In Figure 25 people who are in poverty are broken out by age group. Lake Forest has the percentage of person in poverty 12 to 17 years the second smallest in terms of person in poverty under 12 years of all the other places in the metro area at 20% of the total. Second, it has one of the largest proportions of person in poverty 18 to 34 years at 26% of the total and is ranked #3. Only #2 Rancho Santa Margarita (29%), and #1 Laguna Hills (34%) are larger. Third, it has in the mid range of other places in the greater region as measured by person in poverty 55 to 64 years at 14% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Lake Forest has the percentage of white poverty rate in the center range of other places in the metro area at 10% of the total.

Figure 27 shows key poverty statistics for groups based on marriage status. Lake Forest has the largest proportion of unmarried female with children and in poverty at 10% of the total and is ranked #1. Additionally, Figure 30 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) Lake Forest depicts it has a Public Assistance Percent of 4.5% which is the second most households with public assistance of all the places in the greater Lake Forest region. The city with the highest households with public assistance in the area is Las Flores CDP-Orange County which shows a households with public assistance of 8.7% (about twice as large).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Lake Forest depicts it has a Gini Index of 41.3% which is in the intermediate range of other places in the greater region.

Lake Forest California Work Commute Charts

The following set of charts detail a variety of metrics that have economic impact, economic grow factors and economic development metrics in the Lake Forest community and has an impact on other factors such as economic growth, population growth, economic recovery, job growth, etc.. Figure 32 shows a high level view of how the population commutes to work (including the percent of people who work from home.) Lake Forest has the largest proportion of people who drive a car or motorcycle to work at 2% of the total and is ranked #1. Second, it has the smallest proportion of people who bicycle or walk to work at 10% of the total. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Lake Forest or elsewhere.) Lake Forest has the largest proportion of people who take the bus at 1% of the total and is ranked #1. Second, it has the smallest proportion of people who work from home at 10% of the total.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Lake Forest has one of the largest proportions of people with commute time of less than 5 minutesutes at 9% of the total and is ranked #2. The only larger city being Laguna Woods with 12%. Second, it has less than most other places in the local area as measured by people with commute time between 5 to 9 minutes at 13% of the total.

The average commute time is shown in Figure 37. Lake Forest shows it has a Avg Commute Time of 26 which is in the mid point range of other places in the local area. Figure 38 shows the difference between male versus female commuting time. Lake Forest shows average commute time in minutes for men 21.3% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Lake Forest has the percentage of no vehicle available in the mid range of other places in the area at 13% of the total. Second, it has the second smallest when sorted by no vehicle available of all the other places in the area when sorted by 1 vehicle available at 40% of the total. Third, it has the largest proportion of 4 vehicles available at 7% of the total and is ranked #1. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Lake Forest shows it has a Work in city or place where live of 24% which is in the middle range of other places in the area. The city with the highest people who both work and live in the same city in the area is Irvine which shows a people who both work and live in the same city of 46% (about twice as large). Comparing people who both work and live in the same city to the United States average of 43%, Lake Forest is approximately half the size. Also, benchmarked against the state of California, people who both work and live in the same city of 38%, Lake Forest is approximately three-fourths the size.

Lake Forest California Jobs Charts

The next to charts break out the median earnings for major job categories for men and women. Figure 46 shows the median earnings of men for the job categories. Lake Forest depicts it has the hightest median earnings of $128,295 for the earnings-protective service occupations classification. Similarly, Figure 47 shows the median earnings of women for the job categories and Lake Forest depicts it has the hightest median earnings of $92,656 for the earnings-protective service occupations classification. The table in Figure 48, shows Lake Forest employment data in terms of job categories and salary data.

Lake Forest California Self Employment Charts

Figure 49 shows economic activity in terms of the number of people who are self employed in incorporated local business by industry. Lake Forest depicts it has the hightest entrepreneurs of 47% for the self employed management, business, science, and arts businesses grouping.

Similar to the last chart is Figure 50 which shows the number of people who are self employed but in more detailed industry categories such as manufacturing, retail sales, residential real estate, commercial real estate, health care, exports/imports, and advanced industries, etc. Lake Forest shows it has the hightest entrepreneurs of 25% for the self employed in professional, scientific, management, administrative services classification.

In Figure 51 the average annual self employment/entrepreneur income is shown. Lake Forest shows it has a Self Employment Income of $48,865 which is the third most average annual self employment income of all other places in the greater Lake Forest region. The city with the highest average annual self employment income in the area is Laguna Hills which depicts an average annual self employment income of $69,420 (42.1% larger). Comparing average annual self employment income to the United States average of $40,101, Lake Forest is 21.9% larger. Also, measured against the state of California, average annual self employment income of $46,935, Lake Forest is only about 4.1% larger.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Lake Forest depicts total number of self-employed men 34.5% larger as the total number of self-employed women.