Oakwood village, Illinois Demographics & Population 2026

Population Overview

Oakwood village is a small community located in Illinois. The total population is 1,243. It ranks as the 637th most populous out of 1,445 cities and towns in Illinois.

Age Demographics

The median age in Oakwood village is 40.8 years. This is 5% higher than the state median of 38.9 years. 10.7% 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 Oakwood village is $43,894. This is 46% lower than the state median of $81,702. Compared to the national median of $78,538, household income here is 44% lower. The poverty rate stands at 26.6%. This is 127% higher than the state poverty rate of 11.7%. With more than one in five residents living below the poverty line, economic hardship is a significant challenge for the community. The unemployment rate is 1.3%. This is 78% lower than the state rate of 5.8%. The median home value is $98,300. Housing costs are 61% lower than the state median of $250,500. With a home-value-to-income ratio of just 2.2x, Oakwood village is one of the most affordable housing markets in the area. 75.9% of occupied housing units are owner-occupied. This homeownership rate is 14% higher than the state average of 66.8%.

Race & Ethnicity

Oakwood village has a predominantly White (non-Hispanic) population, comprising 95.5% of all residents. Black or African American residents account for 0.7%. The White (non-Hispanic) population is significantly higher than the state average (95.5% vs 58.8%). The Black or African American population (0.7%) is well below the state average of 13.6%. The Hispanic or Latino population (0.4%) is well below the state average of 18.5%.

Education

7.8% of residents aged 25 and older hold a bachelor's degree or higher. This is 79% lower than the state rate of 37.2%. Nationally, 35.0% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 95.7%.

Data Sources & Methodology

All demographic data for Oakwood village, Illinois is sourced from the U.S. Census Bureau's American Community Survey (ACS) 5-Year Estimates (2019-2023). The ACS collects data from approximately 3.5 million households annually, providing reliable estimates for communities of all sizes. 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. For official data, visit data.census.gov.