Bannockburn, Illinois Demographics & Population 2026
During the 2020–2024 ACS period, Bannockburn, Illinois had a total population of 1,148, the 663rd largest village in Illinois, with a median household income of $214,000, which is 157% higher than the state average. The poverty rate is 5.1%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Key Takeaways
- Household income is 157% above the state average — one of the wealthiest communities in Illinois.
- 90.0% of adults hold a bachelor's degree or higher — top 10% in Illinois.
- Near full employment with an unemployment rate of just 1.8%.
Bannockburn Quick Facts
How Bannockburn Changed
Change from the 2019–2023 ACS period to 2020–2024. These are rolling five-year estimates, not year-over-year measurements.
| Metric | 2019–2023 | 2020–2024 | Change |
|---|---|---|---|
| Population | 1,125 | 1,148 | +2.0% |
| Median household income | $195,625 | $214,000 | +9.4% |
| Median home value | $1,110,800 | $1,037,200 | -6.6% |
How Bannockburn Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Detailed income brackets
Employment
Housing Overview
People & Demographics
Age Distribution
Race & Ethnicity
Diversity Index
Moderate diversity with one or two groups making up the majority.
State average: 61 | National average: 61
Education
Educational Attainment (Adults 25+)
Bannockburn Rankings in Illinois
Explore Illinois Rankings
Other Cities in Lake County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| Waukegan | 89,076 | $71,919 | 15.3% | $190,900 |
| Mundelein | 31,915 | $108,340 | 8.2% | $309,700 |
| North Chicago | 30,643 | $60,172 | 24.5% | $159,600 |
| Gurnee | 30,510 | $119,628 | 5.2% | $344,300 |
| Highland Park | 30,398 | $168,094 | 4.2% | $607,300 |
| Round Lake Beach | 27,079 | $86,059 | 14.8% | $199,200 |
| Vernon Hills | 26,876 | $121,943 | 6.1% | $412,300 |
| Zion | 24,600 | $63,104 | 16.0% | $183,800 |
| Grayslake | 20,929 | $113,972 | 6.3% | $309,500 |
| Libertyville | 20,525 | $165,667 | 4.2% | $512,000 |
Cities Similar to Bannockburn
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Bull Valley | 1,269 | $191,250 | $477,900 | 52.6% | 6.2% |
| Third Lake | 1,137 | $150,139 | $361,500 | 69.1% | 2.0% |
| Tower Lakes | 1,106 | $154,167 | $510,300 | 76.4% | 2.0% |
| Timberlane | 1,278 | $147,308 | $351,000 | 46.2% | 0.8% |
| Lily Lake | 1,293 | $140,313 | $418,800 | 41.7% | 0.2% |
Population Overview
Bannockburn is a small community located in Illinois, within Lake County. The total population is 1,148. It ranks as the 663rd most populous out of 1,445 Census-designated places in Illinois.
Age Demographics
The median age in Bannockburn is 31.4 years. This is 19% lower than the state median of 39.0 years. 12.3% of residents are 75 or older, suggesting a significant retirement-age population with implications for healthcare services and senior housing.
Economy, Income & Housing
The median household income in Bannockburn is $214,000. This is 157% higher than the state median of $83,390. It is also 165% higher than the national median of $80,734. The poverty rate stands at 5.1%. This is 57% lower than the state poverty rate of 11.8%. The unemployment rate is 1.8%. This is 69% lower than the state rate of 5.8%. The median home value is $1,037,200. Housing costs are 294% higher than the state median of $263,300. The home-value-to-income ratio is 4.8x. 96.6% of occupied housing units are owner-occupied. This homeownership rate is 44% higher than the state average of 67.1%.
Race & Ethnicity
The largest racial or ethnic group in Bannockburn is White (non-Hispanic), making up 73.8% of the population. Hispanic or Latino residents account for 10.4%. The Black or African American population (4.9%) is well below the state average of 13.3%.
Education
90.0% of residents aged 25 and older hold a bachelor's degree or higher. This places Bannockburn in the top 10% of all cities in the state for educational attainment. This is 138% higher than the state rate of 37.9%. Nationally, 35.7% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 99.1%. Notably, 46.3% of adults hold a graduate or professional degree, indicating a highly educated workforce.
Data Sources & Methodology
All demographic data for Bannockburn, Illinois is sourced from the U.S. Census Bureau's American Community Survey (ACS) 2020–2024 5-Year Estimates. The ACS collects data from approximately 3.5 million households annually and pools five years of responses so that even small communities can be measured, though the margin of error widens as the population falls. Comparisons are made against Illinois state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 1,445 Census-designated places in Illinois. Read more about how these figures are produced on our methodology page, or visit data.census.gov for official data.
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Frequently Asked Questions
What is the population of Bannockburn, Illinois?
Bannockburn, Illinois has a population of 1,148 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Bannockburn, IL?
The median household income in Bannockburn is $214,000, which is 165% higher than the national median of $80,734.
What is the poverty rate in Bannockburn, IL?
The poverty rate in Bannockburn is 5.1%. This means approximately 36 residents live below the federal poverty line.
What is the racial makeup of Bannockburn, Illinois?
Bannockburn's population is 73.8% White, 4.9% Black, 10.4% Hispanic/Latino, and 6.7% Asian.
What is the median home value in Bannockburn, IL?
The median home value in Bannockburn is $1,037,200. The home-value-to-income ratio is 4.8x.
How educated is Bannockburn, Illinois?
90.0% of adults (25+) in Bannockburn hold a bachelor's degree or higher, and 46.3% hold a graduate or professional degree.