Assumption, IL
Population 1,117 · Illinois
About Assumption, IL
Assumption is a small town located in Illinois with a population of 1,117 residents according to the latest US Census Bureau American Community Survey data. The median household income is $55,764 per year, which is 26% below the national median of $75,149. The median age of 34.3 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Assumption features a median home value of $72,100, which is 71% below the national median of $244,900. This makes Assumption one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $646, 44% below the national average of $1,163/month. Of the 605 total housing units, 61% are owner-occupied (316 units) and 39% are renter-occupied (201 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Assumption shows an unemployment rate of 11.8%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 11.3%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Assumption have an average one-way commute time of 20.8 minutes.
Education & Demographics
14.8% of Assumption residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 11.5% White, 0.9% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.2% of the population being foreign-born.
Cost of Living in Assumption, IL
Compared to national averages, Assumption has a median household income of $55,764 (26% below the national median of $75,149). Home values average $72,100, which is 71% below the national median. Monthly rent at $646 is 44% below the US average of $1,163. Within Illinois, Assumption's income is 26% below the state average of $75,072, and home values are 57% below the state median of $165,779.
Why Live in Assumption, IL?
Assumption offers affordable housing with a median home value of $72,100, below the US average of $244,900, and rent that’s lower than the national average at $646/month, and a low poverty rate of 11.3%, better than the national average. Additionally, the city features short commute times averaging just 20.8 minutes.
Potential considerations include median household income ($55,764) that falls below the national average. However, Assumption’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Assumption has a population of 1,117 with a median age of 34.3 years. Compare Assumption with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Assumption
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Lovington | 1,120 | $54,394 | $90,400 | Compare |
| Bull Valley | 1,121 | $185,417 | $460,700 | Compare |
| East Hazel Crest | 1,122 | $57,000 | $168,800 | Compare |
| Central City | 1,123 | $47,750 | $43,900 | Compare |
| Bannockburn | 1,125 | $195,625 | $1,110,800 | Compare |
| Valmeyer | 1,109 | $93,472 | $208,600 | Compare |
| Stronghurst | 1,106 | $80,556 | $104,400 | Compare |
| Homer | 1,130 | $75,833 | $125,700 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Assumption With Other Cities
Frequently Asked Questions about Assumption
What is the population of Assumption, IL?
The population of Assumption, IL is 1,117 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Illinois.
What is the median household income in Assumption?
The median household income in Assumption, IL is $55,764 per year, which is 26% below the national median of $75,149.
What is the median home value in Assumption?
The median home value in Assumption, IL is $72,100, which is 71% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Assumption?
The median monthly rent in Assumption, IL is $646, which is 44% below the national average of $1,163/month.
What is the unemployment rate in Assumption?
The unemployment rate in Assumption, IL is 11.8%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Assumption, IL a good place to live?
Assumption offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 1,117 and a median age of 34.3, the city appeals to young professionals and families.
How educated is Assumption, IL?
14.8% of residents in Assumption aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Assumption?
Key cost-of-living indicators for Assumption, IL: median home value is $72,100 (71% below national), median rent is $646/month, and median household income is $55,764. The home-value-to-income ratio is 1.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Assumption?
The poverty rate in Assumption, IL is 11.3%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Assumption, IL?
Assumption's population is 11.5% White, 0.9% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 2.4% two or more races. 0.2% of residents are foreign-born.