Channel Lake, IL
Population 1,988 · Illinois
About Channel Lake, IL
Channel Lake is a small town located in Illinois with a population of 1,988 residents according to the latest US Census Bureau American Community Survey data. The median household income is $63,958 per year, which is 15% below the national median of $75,149. The median age of 34.8 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 Channel Lake features a median home value of $210,400, which is 14% below the national median of $244,900. This positions Channel Lake in a moderately priced market relative to the rest of the country. Median monthly rent is $1,526, 31% above the national average of $1,163/month. Of the 853 total housing units, 79% are owner-occupied (618 units) and 21% are renter-occupied (167 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Channel Lake shows an unemployment rate of 3.8%, which is near the national rate of 3.7%. The poverty rate stands at 19.4%, above the national average of 12.4%. Workers in Channel Lake have an average one-way commute time of 32.9 minutes.
Education & Demographics
19.9% of Channel Lake 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 2.1% White, 0.9% Hispanic or Latino, 0.5% Black or African American, and 2.1% Asian residents, with 1.2% of the population being foreign-born.
Cost of Living in Channel Lake, IL
Compared to national averages, Channel Lake has a median household income of $63,958 (15% below the national median of $75,149). Home values average $210,400, which is 14% below the national median. Monthly rent at $1,526 is 31% above the US average of $1,163. Within Illinois, Channel Lake's income is 15% below the state average of $75,072, and home values are 27% above the state median of $165,779.
Why Live in Channel Lake, IL?
Channel Lake offers affordable housing with a median home value of $210,400, below the US average of $244,900.
Potential considerations include median household income ($63,958) that falls below the national average. However, Channel Lake’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Channel Lake has a population of 1,988 with a median age of 34.8 years. Compare Channel Lake with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Channel Lake
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Roanoke | 1,987 | $74,141 | $139,800 | Compare |
| Farmington | 1,990 | $64,313 | $99,300 | Compare |
| Prairie Grove | 1,992 | $138,229 | $439,100 | Compare |
| Mount Olive | 1,979 | $55,139 | $96,600 | Compare |
| Lake of the Woods | 1,976 | $69,054 | $194,300 | Compare |
| Farmer City | 2,001 | $73,147 | $128,900 | Compare |
| Crystal Lawns | 1,965 | $109,415 | $234,600 | Compare |
| Earlville | 2,015 | $62,763 | $127,300 | 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 Channel Lake With Other Cities
Frequently Asked Questions about Channel Lake
What is the population of Channel Lake, IL?
The population of Channel Lake, IL is 1,988 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 Channel Lake?
The median household income in Channel Lake, IL is $63,958 per year, which is 15% below the national median of $75,149.
What is the median home value in Channel Lake?
The median home value in Channel Lake, IL is $210,400, which is 14% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Channel Lake?
The median monthly rent in Channel Lake, IL is $1,526, which is 31% above the national average of $1,163/month.
What is the unemployment rate in Channel Lake?
The unemployment rate in Channel Lake, IL is 3.8%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Channel Lake, IL a good place to live?
Channel Lake offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 1,988 and a median age of 34.8, the city appeals to young professionals and families.
How educated is Channel Lake, IL?
19.9% of residents in Channel Lake 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 Channel Lake?
Key cost-of-living indicators for Channel Lake, IL: median home value is $210,400 (14% below national), median rent is $1,526/month, and median household income is $63,958. The home-value-to-income ratio is 3.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Channel Lake?
The poverty rate in Channel Lake, IL is 19.4%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Channel Lake, IL?
Channel Lake's population is 2.1% White, 0.9% Hispanic or Latino, 0.5% Black or African American, 2.1% Asian, and 0.0% two or more races. 1.2% of residents are foreign-born.