Living in Savoy, Illinois
Cost of living, income, home prices, rent and demographics of Savoy · Census data 2020–2024
Savoy has 8,968 residents with a median age of 38. The median household income is $91,966 (10% higher than the Illinois median), the median home value is $320,300, the median rent is $1,003/month.
Savoy at a glance
- Population
- 8,968
- Median age
- 38State: 39
- Median household income
- $91,966State: $83,390
- Median home value
- $320,300State: $263,300
- Median rent
- $1,003/moState: $1,274
- Homeowners
- 59.3%
- Bachelor's degree or higher
- 63.3%
- Average commute
- 18 min
Is Savoy a good place to live?
Pros: Median household income 10% higher than the Illinois median; an average commute of 18 minutes; unemployment of 1.4%; a poverty rate of 7.9%.
Cons: Home values 22% higher than the state median.
The weather is best in May and July to September.
Cost of living in Savoy
Housing is the biggest part of the cost of living. In Savoy the median home value is $320,300, 4% lower than the U.S. median. Renters pay a median of $1,003 per month, which is 24.8% of household income. Homeowners with a mortgage pay $2,127 a month in housing costs.
Savoy median household income
The median household income in Savoy is $91,966 and the income per person is $51,293. 7.9% of residents live below the poverty line (Illinois: 11.8%).
Housing in Savoy: homes for sale and rent
- Housing units
- 4,031
- Owner-occupied
- 59.3%
- Renter-occupied
- 40.7%
- Vacant
- 8.2%Includes seasonal homes
- Median year built
- 1996
- Average household size
- 2.38
Savoy demographics
- Population
- 8,968
- Median age
- 38
- Under 18
- 24.1%
- 65 and older
- 19.4%
- Households
- 3,699
- Foreign-born
- 23.8%
- Veterans
- 6%Adults 18+
Hispanic or Latino can be of any race. Population history of Savoy ›
Education in Savoy
63.3% of adults 25 and older in Savoy have a bachelor's degree or higher (Illinois: 37.8%), and 38% have a graduate or professional degree.
Jobs and commute in Savoy
- Unemployment rate
- 1.4%State: 5.8%
- Average commute
- 18 minState: 28 min
- Work from home
- 18.3%
- Drive alone
- 74.9%
- Public transit
- 0.3%
- Walk to work
- 0%
- Homes with broadband
- 91.5%
Savoy vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Savoy | 8,968 | $91,966 | $320,300 | $1,003 |
| Champaign | 89,996 | $56,118 | $210,900 | $1,123 |
| Urbana | 39,341 | $45,346 | $184,900 | $972 |
| Tolono | 3,566 | $69,653 | $208,600 | $945 |
| Philo | 1,487 | $105,625 | $205,400 | $1,222 |
| Bondville | 404 | $71,250 | $168,200 | $1,292 |
| Sadorus | 296 | $78,750 | $132,500 | $925 |
| Seymour | 270 | $36,063 | $135,700 | — |
| Sidney | 936 | $88,618 | $197,600 | $1,094 |
More for people moving to Savoy
Savoy ZIP code ›Weather and climate ›Living in Savoy: FAQ
What is the median household income in Savoy, IL?
The median household income in Savoy is $91,966, 10% 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 Savoy?
The median home value in Savoy is $320,300, compared with $263,300 in Illinois.
How much is rent in Savoy?
The median gross rent in Savoy is $1,003 per month, about 24.8% of household income.
Is Savoy, IL a good place to live?
Pluses: median household income 10% higher than the Illinois median; an average commute of 18 minutes; unemployment of 1.4%; a poverty rate of 7.9%. Minuses: home values 22% higher than the state median.
What is the median age in Savoy?
The median age in Savoy is 38 years (Illinois: 39).
How long is the commute in Savoy?
The average commute to work in Savoy is 18 minutes; 18.3% of workers work from home.
What is the unemployment rate in Savoy?
The unemployment rate in Savoy is 1.4% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Savoy?
63.3% of adults in Savoy 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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