Living in Cherry Valley, Illinois
Cost of living, income, home prices, rent and demographics of Cherry Valley · Census data 2020–2024
Cherry Valley has 3,749 residents with a median age of 45.1. The median household income is $74,655 (10% lower than the Illinois median), the median home value is $232,800, the median rent is $1,024/month.
Cherry Valley at a glance
- Population
- 3,749
- Median age
- 45.1State: 39
- Median household income
- $74,655State: $83,390
- Median home value
- $232,800State: $263,300
- Median rent
- $1,024/moState: $1,274
- Homeowners
- 81.3%
- Bachelor's degree or higher
- 30%
- Average commute
- 24 min
Is Cherry Valley a good place to live?
Pros: Home values 12% lower than the state median; an average commute of 24 minutes; unemployment of 5.4%; a poverty rate of 8.3%.
Cons: Median household income 10% lower than the Illinois median.
The weather is best in June to September.
Cost of living in Cherry Valley
Housing is the biggest part of the cost of living. In Cherry Valley the median home value is $232,800, 30% lower than the U.S. median. Renters pay a median of $1,024 per month, which is 31.9% of household income. Homeowners with a mortgage pay $1,784 a month in housing costs.
Cherry Valley median household income
The median household income in Cherry Valley is $74,655 and the income per person is $40,145. 8.3% of residents live below the poverty line (Illinois: 11.8%).
Housing in Cherry Valley: homes for sale and rent
- Housing units
- 1,528
- Owner-occupied
- 81.3%
- Renter-occupied
- 18.7%
- Vacant
- 3.3%Includes seasonal homes
- Median year built
- 1997
- Average household size
- 2.46
Cherry Valley demographics
- Population
- 3,749
- Median age
- 45.1
- Under 18
- 18.2%
- 65 and older
- 20.4%
- Households
- 1,478
- Foreign-born
- 9.9%
- Veterans
- 4.8%Adults 18+
Hispanic or Latino can be of any race. Population history of Cherry Valley ›
Education in Cherry Valley
30% of adults 25 and older in Cherry Valley have a bachelor's degree or higher (Illinois: 37.8%), and 9% have a graduate or professional degree.
Jobs and commute in Cherry Valley
- Unemployment rate
- 5.4%State: 5.8%
- Average commute
- 24 minState: 28 min
- Work from home
- 6.6%
- Drive alone
- 88.9%
- Public transit
- 0.7%
- Walk to work
- 1.1%
- Homes with broadband
- 93.3%
Cherry Valley vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Cherry Valley | 3,749 | $74,655 | $232,800 | $1,024 |
| Rockford | 147,521 | $54,752 | $129,000 | $985 |
| Belvidere | 24,752 | $64,528 | $158,900 | $991 |
| New Milford | 1,194 | $76,458 | $132,500 | $744 |
| Loves Park | 23,502 | $61,868 | $160,400 | $1,120 |
| Argyle | 324 | $139,632 | $277,400 | — |
| Timberlane | 1,278 | $147,308 | $351,000 | — |
| Monroe Center | 369 | $93,056 | $164,700 | $1,027 |
| Machesney Park | 22,630 | $75,489 | $173,700 | $1,102 |
More for people moving to Cherry Valley
Cherry Valley ZIP code ›Weather and climate ›Living in Cherry Valley: FAQ
What is the median household income in Cherry Valley, IL?
The median household income in Cherry Valley is $74,655, 10% lower than the Illinois median of $83,390 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Cherry Valley?
The median home value in Cherry Valley is $232,800, compared with $263,300 in Illinois.
How much is rent in Cherry Valley?
The median gross rent in Cherry Valley is $1,024 per month, about 31.9% of household income.
Is Cherry Valley, IL a good place to live?
Pluses: home values 12% lower than the state median; an average commute of 24 minutes; unemployment of 5.4%; a poverty rate of 8.3%. Minuses: median household income 10% lower than the Illinois median.
What is the median age in Cherry Valley?
The median age in Cherry Valley is 45.1 years (Illinois: 39).
How long is the commute in Cherry Valley?
The average commute to work in Cherry Valley is 24 minutes; 6.6% of workers work from home.
What is the unemployment rate in Cherry Valley?
The unemployment rate in Cherry Valley is 5.4% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Cherry Valley?
30% of adults in Cherry Valley have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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