Living in Loraine, Illinois
Cost of living, income, home prices, rent and demographics of Loraine · Census data 2020–2024
Loraine has 341 residents with a median age of 49.8. The median household income is $58,750 (30% lower than the Illinois median), the median home value is $83,600, the median rent is $673/month.
Loraine is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Loraine at a glance
- Population
- 341
- Median age
- 49.8State: 39
- Median household income
- $58,750State: $83,390
- Median home value
- $83,600State: $263,300
- Median rent
- $673/moState: $1,274
- Homeowners
- 82.8%
- Bachelor's degree or higher
- 9.8%
- Average commute
- 28 min
Is Loraine a good place to live?
Pros: Home values 68% lower than the state median; an average commute of 28 minutes; unemployment of 5.5%; a poverty rate of 8.8%.
Cons: Median household income 30% lower than the Illinois median.
The weather is best in May–June and August–September.
Cost of living in Loraine
Housing is the biggest part of the cost of living. In Loraine the median home value is $83,600, 75% lower than the U.S. median. Renters pay a median of $673 per month, which is 21.1% of household income. Homeowners with a mortgage pay $958 a month in housing costs.
Loraine median household income
The median household income in Loraine is $58,750 and the income per person is $32,266. 8.8% of residents live below the poverty line (Illinois: 11.8%).
Housing in Loraine: homes for sale and rent
- Housing units
- 177
- Owner-occupied
- 82.8%
- Renter-occupied
- 17.2%
- Vacant
- 11.3%Includes seasonal homes
- Median year built
- 1960
- Average household size
- 2.17
Loraine demographics
- Population
- 341
- Median age
- 49.8
- Under 18
- 16.7%
- 65 and older
- 32.3%
- Households
- 157
- Foreign-born
- 0.3%
- Veterans
- 6.7%Adults 18+
Hispanic or Latino can be of any race. Population history of Loraine ›
Education in Loraine
9.8% of adults 25 and older in Loraine have a bachelor's degree or higher (Illinois: 37.8%), and 3.4% have a graduate or professional degree.
Jobs and commute in Loraine
- Unemployment rate
- 5.5%State: 5.8%
- Average commute
- 28 minState: 28 min
- Work from home
- 9.4%
- Drive alone
- 81.2%
- Public transit
- 0%
- Walk to work
- 3.6%
- Homes with broadband
- 72%
Loraine vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Loraine | 341 | $58,750 | $83,600 | $673 |
| Mendon | 1,167 | $65,781 | $111,600 | $667 |
| West Point | 201 | $64,375 | $39,300 | — |
| Lima | 224 | $74,375 | $88,800 | — |
| Coatsburg | 209 | $63,750 | $81,700 | $1,047 |
| Ursa | 726 | $64,375 | $161,900 | $823 |
| Bowen | 552 | $63,750 | $80,700 | $579 |
| Golden | 693 | $55,000 | $122,800 | $760 |
| Camp Point | 1,230 | $62,188 | $127,800 | $730 |
More for people moving to Loraine
Loraine ZIP code ›Weather and climate ›Living in Loraine: FAQ
What is the median household income in Loraine, IL?
The median household income in Loraine is $58,750, 30% 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 Loraine?
The median home value in Loraine is $83,600, compared with $263,300 in Illinois.
How much is rent in Loraine?
The median gross rent in Loraine is $673 per month, about 21.1% of household income.
Is Loraine, IL a good place to live?
Pluses: home values 68% lower than the state median; an average commute of 28 minutes; unemployment of 5.5%; a poverty rate of 8.8%. Minuses: median household income 30% lower than the Illinois median.
What is the median age in Loraine?
The median age in Loraine is 49.8 years (Illinois: 39).
How long is the commute in Loraine?
The average commute to work in Loraine is 28 minutes; 9.4% of workers work from home.
What is the unemployment rate in Loraine?
The unemployment rate in Loraine is 5.5% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Loraine?
9.8% of adults in Loraine 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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