Living in Rankin, Illinois
Cost of living, income, home prices, rent and demographics of Rankin · Census data 2020–2024
Rankin has 601 residents with a median age of 32.4. The median household income is $41,250 (51% lower than the Illinois median), the median home value is $56,900, the median rent is $767/month.
Rankin is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Rankin at a glance
- Population
- 601
- Median age
- 32.4State: 39
- Median household income
- $41,250State: $83,390
- Median home value
- $56,900State: $263,300
- Median rent
- $767/moState: $1,274
- Homeowners
- 68.5%
- Bachelor's degree or higher
- 5.6%
- Average commute
- 29 min
Is Rankin a good place to live?
Pros: Home values 78% lower than the state median.
Cons: Median household income 51% lower than the Illinois median; an average commute of 29 minutes; unemployment of 28.5%; a poverty rate of 49.1%.
The weather is best in May–June and August–September.
Cost of living in Rankin
Housing is the biggest part of the cost of living. In Rankin the median home value is $56,900, 83% lower than the U.S. median. Renters pay a median of $767 per month, which is 41.9% of household income. Homeowners with a mortgage pay $887 a month in housing costs.
Rankin median household income
The median household income in Rankin is $41,250 and the income per person is $18,670. 49.1% of residents live below the poverty line (Illinois: 11.8%).
Housing in Rankin: homes for sale and rent
- Housing units
- 262
- Owner-occupied
- 68.5%
- Renter-occupied
- 31.5%
- Vacant
- 17.6%Includes seasonal homes
- Median year built
- 1938
- Average household size
- 2.78
Rankin demographics
- Population
- 601
- Median age
- 32.4
- Under 18
- 31.1%
- 65 and older
- 8.3%
- Households
- 216
- Foreign-born
- 0%
- Veterans
- 2.7%Adults 18+
Hispanic or Latino can be of any race. Population history of Rankin ›
Education in Rankin
5.6% of adults 25 and older in Rankin have a bachelor's degree or higher (Illinois: 37.8%), and 0.8% have a graduate or professional degree.
Jobs and commute in Rankin
- Unemployment rate
- 28.5%State: 5.8%
- Average commute
- 29 minState: 28 min
- Work from home
- 9.1%
- Drive alone
- 80.5%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 93.5%
Rankin vs nearby towns
More for people moving to Rankin
Rankin ZIP code ›Weather and climate ›Living in Rankin: FAQ
What is the median household income in Rankin, IL?
The median household income in Rankin is $41,250, 51% 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 Rankin?
The median home value in Rankin is $56,900, compared with $263,300 in Illinois.
How much is rent in Rankin?
The median gross rent in Rankin is $767 per month, about 41.9% of household income.
Is Rankin, IL a good place to live?
Pluses: home values 78% lower than the state median. Minuses: median household income 51% lower than the Illinois median; an average commute of 29 minutes; unemployment of 28.5%; a poverty rate of 49.1%.
What is the median age in Rankin?
The median age in Rankin is 32.4 years (Illinois: 39).
How long is the commute in Rankin?
The average commute to work in Rankin is 29 minutes; 9.1% of workers work from home.
What is the unemployment rate in Rankin?
The unemployment rate in Rankin is 28.5% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Rankin?
5.6% of adults in Rankin 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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