Volo, Illinois Demographics & Population 2026
During the 2020–2024 ACS period, Volo, Illinois had a total population of 6,706, the 293rd largest village in Illinois, with a median household income of $160,792, which is 93% higher than the state average. The poverty rate is 2.1%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Key Takeaways
- Household income is 93% above the state average — one of the wealthiest communities in Illinois.
- An exceptionally low poverty rate of 2.1% — among the lowest in Illinois.
- 52.2% of adults hold a bachelor's degree or higher — top 10% in Illinois.
- Housing is very affordable with a home-value-to-income ratio of just 2.0x.
Volo Quick Facts
How Volo 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 | 6,398 | 6,706 | +4.8% |
| Median household income | $145,906 | $160,792 | +10.2% |
| Median home value | $293,800 | $319,700 | +8.8% |
How Volo 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+)
Volo 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 Volo
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Orland Hills | 6,719 | $122,039 | $280,300 | 36.3% | 6.4% |
| Elburn | 6,354 | $127,731 | $389,300 | 55.6% | 5.4% |
| Johnsburg | 6,386 | $121,023 | $328,300 | 24.3% | 12.1% |
| Northfield | 5,487 | $161,500 | $878,300 | 80.7% | 3.2% |
| Inverness | 7,275 | $207,434 | $715,600 | 68.5% | 2.6% |
Population Overview
Volo is a small city located in Illinois, within Lake County. The total population is 6,706. It ranks as the 293rd most populous out of 1,445 Census-designated places in Illinois.
Age Demographics
The median age in Volo is 33.5 years. This is 14% lower than the state median of 39.0 years. With 30.7% of the population under 18, Volo has a notably young demographic profile, suggesting a family-oriented community.
Economy, Income & Housing
The median household income in Volo is $160,792. This is 93% higher than the state median of $83,390. It is also 99% higher than the national median of $80,734. The poverty rate stands at 2.1%. This is 82% lower than the state poverty rate of 11.8%. This exceptionally low poverty rate indicates strong economic prosperity across the community. The unemployment rate is 2.6%. This is 55% lower than the state rate of 5.8%. The median home value is $319,700. Housing costs are 21% higher than the state median of $263,300. With a home-value-to-income ratio of just 2.0x, Volo is one of the most affordable housing markets in the area. 82.0% of occupied housing units are owner-occupied. This homeownership rate is 22% higher than the state average of 67.1%.
Race & Ethnicity
The largest racial or ethnic group in Volo is White (non-Hispanic), making up 72.4% of the population. Hispanic or Latino residents account for 12.5%. The Black or African American population (3.5%) is well below the state average of 13.3%.
Education
52.2% of residents aged 25 and older hold a bachelor's degree or higher. This places Volo in the top 10% of all cities in the state for educational attainment. This is 38% 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 95.6%.
Data Sources & Methodology
All demographic data for Volo, 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 Volo, Illinois?
Volo, Illinois has a population of 6,706 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Volo, IL?
The median household income in Volo is $160,792, which is 99% higher than the national median of $80,734.
What is the poverty rate in Volo, IL?
The poverty rate in Volo is 2.1%. This means approximately 139 residents live below the federal poverty line.
What is the racial makeup of Volo, Illinois?
Volo's population is 72.4% White, 3.5% Black, 12.5% Hispanic/Latino, and 7.8% Asian.
What is the median home value in Volo, IL?
The median home value in Volo is $319,700. The home-value-to-income ratio is 2.0x.
How educated is Volo, Illinois?
52.2% of adults (25+) in Volo hold a bachelor's degree or higher, and 13.4% hold a graduate or professional degree.