Living in Greenwood, Illinois
Cost of living, income, home prices, rent and demographics of Greenwood · Census data 2020–2024
Greenwood has 502 residents with a median age of 41.8. The median household income is $131,250 (57% higher than the Illinois median), the median home value is $415,900, the median rent is $1,366/month.
Greenwood is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Greenwood at a glance
- Population
- 502
- Median age
- 41.8State: 39
- Median household income
- $131,250State: $83,390
- Median home value
- $415,900State: $263,300
- Median rent
- $1,366/moState: $1,274
- Homeowners
- 74.2%
- Bachelor's degree or higher
- 29.2%
- Average commute
- 26 min
Is Greenwood a good place to live?
Pros: Median household income 57% higher than the Illinois median; an average commute of 26 minutes; unemployment of 2.2%.
Cons: Home values 58% higher than the state median; a poverty rate of 12.5%.
The weather is best in June to September.
Cost of living in Greenwood
Housing is the biggest part of the cost of living. In Greenwood the median home value is $415,900, 25% higher than the U.S. median. Renters pay a median of $1,366 per month, which is 9% of household income. Homeowners with a mortgage pay $2,455 a month in housing costs.
Greenwood median household income
The median household income in Greenwood is $131,250 and the income per person is $48,913. 12.5% of residents live below the poverty line (Illinois: 11.8%).
Housing in Greenwood: homes for sale and rent
- Housing units
- 187
- Owner-occupied
- 74.2%
- Renter-occupied
- 25.8%
- Vacant
- 2.7%Includes seasonal homes
- Median year built
- 1938
- Average household size
- 2.76
Greenwood demographics
- Population
- 502
- Median age
- 41.8
- Under 18
- 21.7%
- 65 and older
- 16.5%
- Households
- 182
- Foreign-born
- 6.6%
- Veterans
- 3.8%Adults 18+
Hispanic or Latino can be of any race. Population history of Greenwood ›
Education in Greenwood
29.2% of adults 25 and older in Greenwood have a bachelor's degree or higher (Illinois: 37.8%), and 7.6% have a graduate or professional degree.
Jobs and commute in Greenwood
- Unemployment rate
- 2.2%State: 5.8%
- Average commute
- 26 minState: 28 min
- Work from home
- 15.8%
- Drive alone
- 70.6%
- Public transit
- 0%
- Walk to work
- 7.5%
- Homes with broadband
- 94.5%
Greenwood vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Greenwood | 502 | $131,250 | $415,900 | $1,366 |
| Wonder Lake | 4,292 | $94,655 | $252,200 | — |
| Ringwood | 730 | $143,750 | $386,400 | $1,025 |
| McCullom Lake | 1,017 | $72,791 | $178,600 | $1,443 |
| Bull Valley | 1,269 | $191,250 | $477,900 | $3,501 |
| Hebron | 1,261 | $85,375 | $208,100 | $1,118 |
| Richmond | 2,622 | $73,029 | $238,600 | $1,220 |
| McHenry | 28,074 | $86,315 | $266,500 | $1,553 |
| Woodstock | 26,147 | $82,758 | $245,700 | $1,212 |
More for people moving to Greenwood
Greenwood ZIP code ›Weather and climate ›Living in Greenwood: FAQ
What is the median household income in Greenwood, IL?
The median household income in Greenwood is $131,250, 57% higher 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 Greenwood?
The median home value in Greenwood is $415,900, compared with $263,300 in Illinois.
How much is rent in Greenwood?
The median gross rent in Greenwood is $1,366 per month, about 9% of household income.
Is Greenwood, IL a good place to live?
Pluses: median household income 57% higher than the Illinois median; an average commute of 26 minutes; unemployment of 2.2%. Minuses: home values 58% higher than the state median; a poverty rate of 12.5%.
What is the median age in Greenwood?
The median age in Greenwood is 41.8 years (Illinois: 39).
How long is the commute in Greenwood?
The average commute to work in Greenwood is 26 minutes; 15.8% of workers work from home.
What is the unemployment rate in Greenwood?
The unemployment rate in Greenwood is 2.2% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Greenwood?
29.2% of adults in Greenwood 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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