Oakwood, Illinois Demographics & Population 2026
During the 2020–2024 ACS period, Oakwood, Illinois had a total population of 1,380, the 608th largest village in Illinois, with a median household income of $46,293, which is 44% lower than the state average. The poverty rate is 24.8%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Key Takeaways
- Household income is 44% below the state average, indicating significant economic challenges.
- Housing is very affordable with a home-value-to-income ratio of just 2.2x.
- Near full employment with an unemployment rate of just 2.3%.
Oakwood Quick Facts
How Oakwood 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 | 1,243 | 1,380 | +11.0% |
| Median household income | $43,894 | $46,293 | +5.5% |
| Median home value | $98,300 | $103,000 | +4.8% |
How Oakwood 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
A less diverse community where one racial or ethnic group represents a large majority.
State average: 61 | National average: 61
Education
Educational Attainment (Adults 25+)
Oakwood Rankings in Illinois
Explore Illinois Rankings
Other Cities in Vermilion County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| Danville | 28,595 | $45,957 | 24.5% | $79,000 |
| Hoopeston | 5,034 | $60,861 | 15.6% | $78,100 |
| Westville | 3,419 | $54,912 | 18.6% | $100,000 |
| Georgetown | 3,069 | $58,182 | 17.3% | $71,800 |
| Tilton | 2,453 | $55,697 | 17.3% | $70,400 |
| Catlin | 2,160 | $72,277 | 3.9% | $124,700 |
| Rossville | 1,332 | $62,417 | 10.4% | $92,200 |
| Ridge Farm | 827 | $50,313 | 10.2% | $73,200 |
| Potomac | 605 | $53,194 | 7.6% | $95,500 |
| Rankin | 601 | $41,250 | 49.1% | $56,900 |
Cities Similar to Oakwood
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Hartford | 1,334 | $41,092 | $66,100 | 4.8% | 20.7% |
| Waverly | 1,375 | $55,671 | $98,400 | 18.0% | 7.9% |
| Benld | 1,495 | $47,850 | $82,400 | 10.8% | 15.4% |
| Winchester | 1,498 | $48,250 | $93,900 | 18.3% | 21.2% |
| St. Elmo | 1,257 | $45,294 | $82,600 | 6.2% | 27.8% |
Population Overview
Oakwood is a small community located in Illinois, within Vermilion County. The total population is 1,380. It ranks as the 608th most populous out of 1,445 Census-designated places in Illinois.
Age Demographics
The median age in Oakwood is 42.0 years. This is 8% higher than the state median of 39.0 years. 11.7% 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 is $46,293. This is 44% lower than the state median of $83,390. It is also 43% lower than the national median of $80,734. The poverty rate stands at 24.8%. This is 110% higher than the state poverty rate of 11.8%. 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 2.3%. This is 61% lower than the state rate of 5.8%. The median home value is $103,000. Housing costs are 61% lower than the state median of $263,300. With a home-value-to-income ratio of just 2.2x, Oakwood is one of the most affordable housing markets in the area. 77.7% of occupied housing units are owner-occupied. This homeownership rate is 16% higher than the state average of 67.1%.
Race & Ethnicity
Oakwood has a predominantly White (non-Hispanic) population, comprising 94.0% of all residents. Hispanic or Latino residents account for 1.4%. The White (non-Hispanic) population is significantly higher than the state average (94.0% vs 58.1%). The Black or African American population (1.2%) is well below the state average of 13.3%. The Hispanic or Latino population (1.4%) is well below the state average of 18.8%.
Education
10.5% of residents aged 25 and older hold a bachelor's degree or higher. This is 72% lower 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 95.7%.
Data Sources & Methodology
All demographic data for Oakwood, 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 Oakwood, Illinois?
Oakwood, Illinois has a population of 1,380 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Oakwood, IL?
The median household income in Oakwood is $46,293, which is 43% lower than the national median of $80,734.
What is the poverty rate in Oakwood, IL?
The poverty rate in Oakwood is 24.8%. This means approximately 338 residents live below the federal poverty line.
What is the racial makeup of Oakwood, Illinois?
Oakwood's population is 94.0% White, 1.2% Black, 1.4% Hispanic/Latino, and 0.0% Asian.
What is the median home value in Oakwood, IL?
The median home value in Oakwood is $103,000. The home-value-to-income ratio is 2.2x.
How educated is Oakwood, Illinois?
10.5% of adults (25+) in Oakwood hold a bachelor's degree or higher, and 3.0% hold a graduate or professional degree.