Savoy, Illinois Demographics & Population 2026
During the 2020–2024 ACS period, Savoy, Illinois had a total population of 8,968, the 244th largest village in Illinois, with a median household income of $91,966, which is 10% higher than the state average. The poverty rate is 7.9%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Key Takeaways
- 63.3% of adults hold a bachelor's degree or higher — top 10% in Illinois.
- Near full employment with an unemployment rate of just 1.4%.
Savoy Quick Facts
How Savoy 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 | 8,807 | 8,968 | +1.8% |
| Median household income | $88,828 | $91,966 | +3.5% |
| Median home value | $280,700 | $320,300 | +14.1% |
How Savoy 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 diverse community with significant representation from multiple racial and ethnic groups.
State average: 61 | National average: 61
Education
Educational Attainment (Adults 25+)
Savoy Rankings in Illinois
Explore Illinois Rankings
Other Cities in Champaign County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| Champaign | 89,996 | $56,118 | 25.9% | $210,900 |
| Urbana | 39,341 | $45,346 | 28.0% | $184,900 |
| Rantoul | 12,421 | $48,691 | 16.9% | $118,200 |
| Mahomet | 10,049 | $118,586 | 3.8% | $299,100 |
| St. Joseph | 3,778 | $120,789 | 4.1% | $270,900 |
| Tolono | 3,566 | $69,653 | 4.6% | $208,600 |
| Lake of the Woods | 2,091 | $61,625 | 4.7% | $193,500 |
| Fisher | 1,605 | $97,702 | 2.1% | $190,100 |
| Philo | 1,487 | $105,625 | 10.3% | $205,400 |
| Homer | 1,245 | $85,875 | 11.0% | $146,200 |
Cities Similar to Savoy
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Manteno | 9,030 | $97,634 | $248,400 | 27.5% | 3.5% |
| Mascoutah | 8,816 | $97,375 | $224,900 | 30.8% | 9.8% |
| Lynwood | 9,083 | $85,237 | $218,000 | 31.4% | 9.2% |
| Willowbrook | 9,131 | $99,239 | $358,600 | 53.1% | 6.6% |
| Hampshire | 8,524 | $94,773 | $329,800 | 28.6% | 7.8% |
Population Overview
Savoy is a small city located in Illinois, within Champaign County. The total population is 8,968. It ranks as the 244th most populous out of 1,445 Census-designated places in Illinois.
Age Demographics
The median age in Savoy is 38.0 years. This is 3% lower than the state median of 39.0 years.
Economy, Income & Housing
The median household income in Savoy is $91,966. This is 10% higher than the state median of $83,390. It is also 14% higher than the national median of $80,734. The poverty rate stands at 7.9%. This is 33% lower than the state poverty rate of 11.8%. The unemployment rate is 1.4%. This is 76% lower than the state rate of 5.8%. The median home value is $320,300. Housing costs are 22% higher than the state median of $263,300. The home-value-to-income ratio is 3.5x. 59.3% of occupied housing units are owner-occupied. This homeownership rate is 12% lower than the state average of 67.1%.
Race & Ethnicity
The largest racial or ethnic group in Savoy is White (non-Hispanic), making up 62.9% of the population. Asian residents account for 20.3%. The Hispanic or Latino population (6.9%) is well below the state average of 18.8%. The Asian population is significantly higher than the state average (20.3% vs 5.9%).
Education
63.3% of residents aged 25 and older hold a bachelor's degree or higher. This places Savoy in the top 10% of all cities in the state for educational attainment. This is 67% 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 98.6%. Notably, 38.0% of adults hold a graduate or professional degree, indicating a highly educated workforce.
Data Sources & Methodology
All demographic data for Savoy, 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 Savoy, Illinois?
Savoy, Illinois has a population of 8,968 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Savoy, IL?
The median household income in Savoy is $91,966, which is 14% higher than the national median of $80,734.
What is the poverty rate in Savoy, IL?
The poverty rate in Savoy is 7.9%. This means approximately 700 residents live below the federal poverty line.
What is the racial makeup of Savoy, Illinois?
Savoy's population is 62.9% White, 7.1% Black, 6.9% Hispanic/Latino, and 20.3% Asian.
What is the median home value in Savoy, IL?
The median home value in Savoy is $320,300. The home-value-to-income ratio is 3.5x.
How educated is Savoy, Illinois?
63.3% of adults (25+) in Savoy hold a bachelor's degree or higher, and 38.0% hold a graduate or professional degree.