Living in Toledo, Illinois
Cost of living, income, home prices, rent and demographics of Toledo · Census data 2020–2024
Toledo has 1,197 residents with a median age of 39.4. The median household income is $56,354 (32% lower than the Illinois median), the median home value is $86,100, the median rent is $909/month.
Toledo is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Toledo at a glance
- Population
- 1,197
- Median age
- 39.4State: 39
- Median household income
- $56,354State: $83,390
- Median home value
- $86,100State: $263,300
- Median rent
- $909/moState: $1,274
- Homeowners
- 66%
- Bachelor's degree or higher
- 17.1%
- Average commute
- 20 min
Is Toledo a good place to live?
Pros: Home values 67% lower than the state median; an average commute of 20 minutes; unemployment of 1%.
Cons: Median household income 32% lower than the Illinois median; a poverty rate of 18.1%.
The weather is best in May and August to October.
Cost of living in Toledo
Housing is the biggest part of the cost of living. In Toledo the median home value is $86,100, 74% lower than the U.S. median. Renters pay a median of $909 per month, which is 27.4% of household income. Homeowners with a mortgage pay $1,090 a month in housing costs.
Toledo median household income
The median household income in Toledo is $56,354 and the income per person is $26,514. 18.1% of residents live below the poverty line (Illinois: 11.8%).
Housing in Toledo: homes for sale and rent
- Housing units
- 541
- Owner-occupied
- 66%
- Renter-occupied
- 34%
- Vacant
- 9.2%Includes seasonal homes
- Median year built
- 1959
- Average household size
- 2.37
Toledo demographics
- Population
- 1,197
- Median age
- 39.4
- Under 18
- 23.2%
- 65 and older
- 16.8%
- Households
- 491
- Foreign-born
- 0.6%
- Veterans
- 6.2%Adults 18+
Hispanic or Latino can be of any race. Population history of Toledo ›
Education in Toledo
17.1% of adults 25 and older in Toledo have a bachelor's degree or higher (Illinois: 37.8%), and 3.7% have a graduate or professional degree.
Jobs and commute in Toledo
- Unemployment rate
- 1%State: 5.8%
- Average commute
- 20 minState: 28 min
- Work from home
- 10.9%
- Drive alone
- 75.8%
- Public transit
- 0%
- Walk to work
- 4.3%
- Homes with broadband
- 88.8%
Toledo vs nearby towns
More for people moving to Toledo
Toledo ZIP code ›Weather and climate ›Living in Toledo: FAQ
What is the median household income in Toledo, IL?
The median household income in Toledo is $56,354, 32% 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 Toledo?
The median home value in Toledo is $86,100, compared with $263,300 in Illinois.
How much is rent in Toledo?
The median gross rent in Toledo is $909 per month, about 27.4% of household income.
Is Toledo, IL a good place to live?
Pluses: home values 67% lower than the state median; an average commute of 20 minutes; unemployment of 1%. Minuses: median household income 32% lower than the Illinois median; a poverty rate of 18.1%.
What is the median age in Toledo?
The median age in Toledo is 39.4 years (Illinois: 39).
How long is the commute in Toledo?
The average commute to work in Toledo is 20 minutes; 10.9% of workers work from home.
What is the unemployment rate in Toledo?
The unemployment rate in Toledo is 1% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Toledo?
17.1% of adults in Toledo 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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