Living in Stanford, Illinois
Cost of living, income, home prices, rent and demographics of Stanford · Census data 2020–2024
Stanford has 514 residents with a median age of 32.3. The median household income is $84,821 (about the same as the Illinois median), the median home value is $115,300, the median rent is $1,292/month.
Stanford is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Stanford at a glance
- Population
- 514
- Median age
- 32.3State: 39
- Median household income
- $84,821State: $83,390
- Median home value
- $115,300State: $263,300
- Median rent
- $1,292/moState: $1,274
- Homeowners
- 90%
- Bachelor's degree or higher
- 12.3%
- Average commute
- 21 min
Is Stanford a good place to live?
Pros: Median household income about the same as the Illinois median; home values 56% lower than the state median; an average commute of 21 minutes.
Cons: Unemployment of 9.9%; a poverty rate of 15%.
The weather is best in June to September.
Cost of living in Stanford
Housing is the biggest part of the cost of living. In Stanford the median home value is $115,300, 65% lower than the U.S. median. Renters pay a median of $1,292 per month, which is 26.1% of household income. Homeowners with a mortgage pay $1,161 a month in housing costs.
Stanford median household income
The median household income in Stanford is $84,821 and the income per person is $36,187. 15% of residents live below the poverty line (Illinois: 11.8%).
Housing in Stanford: homes for sale and rent
- Housing units
- 257
- Owner-occupied
- 90%
- Renter-occupied
- 10%
- Vacant
- 18.7%Includes seasonal homes
- Median year built
- 1944
- Average household size
- 2.46
Stanford demographics
- Population
- 514
- Median age
- 32.3
- Under 18
- 25.1%
- 65 and older
- 12.8%
- Households
- 209
- Foreign-born
- 1%
- Veterans
- 5.7%Adults 18+
Hispanic or Latino can be of any race. Population history of Stanford ›
Education in Stanford
12.3% of adults 25 and older in Stanford have a bachelor's degree or higher (Illinois: 37.8%), and 3.9% have a graduate or professional degree.
Jobs and commute in Stanford
- Unemployment rate
- 9.9%State: 5.8%
- Average commute
- 21 minState: 28 min
- Work from home
- 8.9%
- Drive alone
- 75%
- Public transit
- 0%
- Walk to work
- 0.8%
- Homes with broadband
- 91.4%
Stanford vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Stanford | 514 | $84,821 | $115,300 | $1,292 |
| Minier | 1,102 | $88,542 | $148,400 | $833 |
| Twin Grove | 1,458 | $116,250 | $264,800 | — |
| Danvers | 1,130 | $88,854 | $166,200 | $1,319 |
| Armington | 343 | $62,083 | $93,300 | $1,656 |
| Shirley | 103 | $36,490 | $84,800 | — |
| McLean | 708 | $87,321 | $140,400 | $1,400 |
| Heritage Lake | 1,522 | $133,048 | $207,300 | — |
| Mackinaw | 1,979 | $67,292 | $158,300 | $835 |
More for people moving to Stanford
Stanford ZIP code ›Weather and climate ›Living in Stanford: FAQ
What is the median household income in Stanford, IL?
The median household income in Stanford is $84,821, about the same as 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 Stanford?
The median home value in Stanford is $115,300, compared with $263,300 in Illinois.
How much is rent in Stanford?
The median gross rent in Stanford is $1,292 per month, about 26.1% of household income.
Is Stanford, IL a good place to live?
Pluses: median household income about the same as the Illinois median; home values 56% lower than the state median; an average commute of 21 minutes. Minuses: unemployment of 9.9%; a poverty rate of 15%.
What is the median age in Stanford?
The median age in Stanford is 32.3 years (Illinois: 39).
How long is the commute in Stanford?
The average commute to work in Stanford is 21 minutes; 8.9% of workers work from home.
What is the unemployment rate in Stanford?
The unemployment rate in Stanford is 9.9% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Stanford?
12.3% of adults in Stanford 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.
Last updated: