Bannockburn, IL
Population 1,125 · Illinois
About Bannockburn, IL
Bannockburn is a small town located in Illinois with a population of 1,125 residents according to the latest US Census Bureau American Community Survey data. The median household income is $195,625 per year, which is 160% above the national median of $75,149. The median age of 31 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 Bannockburn features a median home value of $1,110,800, which is 354% above the national median of $244,900. This places Bannockburn in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 257 total housing units, 88% are owner-occupied (227 units) and 12% are renter-occupied (30 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Bannockburn shows an unemployment rate of 1.9%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 3.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Bannockburn have an average one-way commute time of 21.8 minutes.
Education & Demographics
86.7% of Bannockburn residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 4.7% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 1.9% Asian residents, with 22.0% of the population being foreign-born.
How Bannockburn Ranks in Illinois
Cost of Living in Bannockburn, IL
Compared to national averages, Bannockburn has a median household income of $195,625 (160% above the national median of $75,149). Home values average $1,110,800, which is 354% above the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Illinois, Bannockburn's income is 161% above the state average of $75,072, and home values are 570% above the state median of $165,779.
Why Live in Bannockburn, IL?
Bannockburn offers a strong local economy with a median household income of $195,625, well above the national average, and rent that’s lower than the national average at $0/month, and a strong job market with an unemployment rate of just 1.9%. Additionally, the city features a well-educated community where 86.7% of residents hold a bachelor’s degree or higher, and a low poverty rate of 3.2%, better than the national average, and short commute times averaging just 21.8 minutes.
Potential considerations include a competitive housing market where the typical home costs $1,110,800. However, Bannockburn’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Bannockburn has a population of 1,125 with a median age of 31 years. Compare Bannockburn with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Bannockburn
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Central City | 1,123 | $47,750 | $43,900 | Compare |
| East Hazel Crest | 1,122 | $57,000 | $168,800 | Compare |
| Bull Valley | 1,121 | $185,417 | $460,700 | Compare |
| Homer | 1,130 | $75,833 | $125,700 | Compare |
| Lovington | 1,120 | $54,394 | $90,400 | Compare |
| Mendon | 1,131 | $62,778 | $108,500 | Compare |
| Assumption | 1,117 | $55,764 | $72,100 | Compare |
| Marissa | 1,133 | $48,393 | $87,000 | 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 Bannockburn With Other Cities
Frequently Asked Questions about Bannockburn
What is the population of Bannockburn, IL?
The population of Bannockburn, IL is 1,125 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 Bannockburn?
The median household income in Bannockburn, IL is $195,625 per year, which is 160% above the national median of $75,149.
What is the median home value in Bannockburn?
The median home value in Bannockburn, IL is $1,110,800, which is 354% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Bannockburn?
The median monthly rent in Bannockburn, IL is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Bannockburn?
The unemployment rate in Bannockburn, IL is 1.9%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Bannockburn, IL a good place to live?
Bannockburn offers above-average incomes, a competitive housing market, and a strong job market. With a population of 1,125 and a median age of 31, the city appeals to young professionals and families.
How educated is Bannockburn, IL?
86.7% of residents in Bannockburn aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Bannockburn?
Key cost-of-living indicators for Bannockburn, IL: median home value is $1,110,800 (354% above national), median rent is $0/month, and median household income is $195,625. The home-value-to-income ratio is 5.7x, a moderate figure by national standards.
What is the poverty rate in Bannockburn?
The poverty rate in Bannockburn, IL is 3.2%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Bannockburn, IL?
Bannockburn's population is 4.7% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 1.9% Asian, and 11.1% two or more races. 22.0% of residents are foreign-born.