Living in Oakwood, Illinois
Cost of living, income, home prices, rent and demographics of Oakwood · Census data 2020–2024
Oakwood has 1,380 residents with a median age of 42. The median household income is $46,293 (44% lower than the Illinois median), the median home value is $103,000, the median rent is $695/month.
Oakwood is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Oakwood at a glance
- Population
- 1,380
- Median age
- 42State: 39
- Median household income
- $46,293State: $83,390
- Median home value
- $103,000State: $263,300
- Median rent
- $695/moState: $1,274
- Homeowners
- 77.7%
- Bachelor's degree or higher
- 10.5%
- Average commute
- 26 min
Is Oakwood a good place to live?
Pros: Home values 61% lower than the state median; an average commute of 26 minutes; unemployment of 2.3%.
Cons: Median household income 44% lower than the Illinois median; a poverty rate of 24.8%.
The weather is best in May–June and August–September.
Cost of living in Oakwood
Housing is the biggest part of the cost of living. In Oakwood the median home value is $103,000, 69% lower than the U.S. median. Renters pay a median of $695 per month, which is 27.3% of household income. Homeowners with a mortgage pay $1,181 a month in housing costs.
Oakwood median household income
The median household income in Oakwood is $46,293 and the income per person is $27,797. 24.8% of residents live below the poverty line (Illinois: 11.8%).
Housing in Oakwood: homes for sale and rent
- Housing units
- 684
- Owner-occupied
- 77.7%
- Renter-occupied
- 22.3%
- Vacant
- 10.8%Includes seasonal homes
- Median year built
- 1974
- Average household size
- 2.26
Oakwood demographics
- Population
- 1,380
- Median age
- 42
- Under 18
- 27.8%
- 65 and older
- 26.1%
- Households
- 610
- Foreign-born
- 0.4%
- Veterans
- 3.9%Adults 18+
Hispanic or Latino can be of any race. Population history of Oakwood ›
Education in Oakwood
10.5% of adults 25 and older in Oakwood have a bachelor's degree or higher (Illinois: 37.8%), and 3% have a graduate or professional degree.
Jobs and commute in Oakwood
- Unemployment rate
- 2.3%State: 5.8%
- Average commute
- 26 minState: 28 min
- Work from home
- 10%
- Drive alone
- 83%
- Public transit
- 0%
- Walk to work
- 1.4%
- Homes with broadband
- 91.3%
Oakwood vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Oakwood | 1,380 | $46,293 | $103,000 | $695 |
| Muncie | 147 | $83,750 | $76,500 | — |
| Catlin | 2,160 | $72,277 | $124,700 | $931 |
| Fithian | 578 | $80,500 | $118,000 | $1,039 |
| Fairmount | 555 | $60,500 | $87,600 | $783 |
| Tilton | 2,453 | $55,697 | $70,400 | $877 |
| Belgium | 290 | $64,773 | $76,300 | $904 |
| Westville | 3,419 | $54,912 | $100,000 | $805 |
| Danville | 28,595 | $45,957 | $79,000 | $846 |
More for people moving to Oakwood
Oakwood ZIP code ›Weather and climate ›Living in Oakwood: FAQ
What is the median household income in Oakwood, IL?
The median household income in Oakwood is $46,293, 44% 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 Oakwood?
The median home value in Oakwood is $103,000, compared with $263,300 in Illinois.
How much is rent in Oakwood?
The median gross rent in Oakwood is $695 per month, about 27.3% of household income.
Is Oakwood, IL a good place to live?
Pluses: home values 61% lower than the state median; an average commute of 26 minutes; unemployment of 2.3%. Minuses: median household income 44% lower than the Illinois median; a poverty rate of 24.8%.
What is the median age in Oakwood?
The median age in Oakwood is 42 years (Illinois: 39).
How long is the commute in Oakwood?
The average commute to work in Oakwood is 26 minutes; 10% of workers work from home.
What is the unemployment rate in Oakwood?
The unemployment rate in Oakwood is 2.3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Oakwood?
10.5% of adults in Oakwood 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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