Cherry Valley, IL
Population 3,268 · Illinois
About Cherry Valley, IL
Cherry Valley is a small town located in Illinois with a population of 3,268 residents according to the latest US Census Bureau American Community Survey data. The median household income is $74,766 per year, which is 1% below the national median of $75,149. The median age of 45.2 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Cherry Valley features a median home value of $222,400, which is 9% below the national median of $244,900. This positions Cherry Valley in a moderately priced market relative to the rest of the country. Median monthly rent is $871, 25% below the national average of $1,163/month. Of the 1,339 total housing units, 82% are owner-occupied (1,055 units) and 18% are renter-occupied (238 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Cherry Valley shows an unemployment rate of 5.1%, which is near the national rate of 3.7%. The poverty rate stands at 7.1%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Cherry Valley have an average one-way commute time of 26.4 minutes.
Education & Demographics
30.7% of Cherry Valley residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 16.2% White, 3.3% Hispanic or Latino, 0.0% Black or African American, and 0.5% Asian residents, with 10.8% of the population being foreign-born.
Cost of Living in Cherry Valley, IL
Compared to national averages, Cherry Valley has a median household income of $74,766 (1% below the national median of $75,149). Home values average $222,400, which is 9% below the national median. Monthly rent at $871 is 25% below the US average of $1,163. Within Illinois, Cherry Valley's income is 0% below the state average of $75,072, and home values are 34% above the state median of $165,779.
Why Live in Cherry Valley, IL?
Cherry Valley offers affordable housing with a median home value of $222,400, below the US average of $244,900, and rent that’s lower than the national average at $871/month, and a low poverty rate of 7.1%, better than the national average.
Potential considerations include median household income ($74,766) that falls below the national average. However, Cherry Valley’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Cherry Valley has a population of 3,268 with a median age of 45.2 years. Compare Cherry Valley with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Cherry Valley
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| South Jacksonville | 3,255 | $53,438 | $137,100 | Compare |
| Long Lake | 3,219 | $100,824 | $185,400 | Compare |
| Pistakee Highlands | 3,214 | $92,304 | $198,700 | Compare |
| Johnston City | 3,351 | $46,629 | $84,500 | Compare |
| Le Roy | 3,177 | $87,500 | $165,600 | Compare |
| Havana | 3,176 | $55,428 | $95,200 | Compare |
| Sleepy Hollow | 3,165 | $147,407 | $365,200 | Compare |
| Virden | 3,165 | $78,750 | $98,800 | 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 Cherry Valley With Other Cities
Frequently Asked Questions about Cherry Valley
What is the population of Cherry Valley, IL?
The population of Cherry Valley, IL is 3,268 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 Cherry Valley?
The median household income in Cherry Valley, IL is $74,766 per year, which is 1% below the national median of $75,149.
What is the median home value in Cherry Valley?
The median home value in Cherry Valley, IL is $222,400, which is 9% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Cherry Valley?
The median monthly rent in Cherry Valley, IL is $871, which is 25% below the national average of $1,163/month.
What is the unemployment rate in Cherry Valley?
The unemployment rate in Cherry Valley, IL is 5.1%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Cherry Valley, IL a good place to live?
Cherry Valley offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 3,268 and a median age of 45.2, the city appeals to established professionals and retirees.
How educated is Cherry Valley, IL?
30.7% of residents in Cherry Valley 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 Cherry Valley?
Key cost-of-living indicators for Cherry Valley, IL: median home value is $222,400 (9% below national), median rent is $871/month, and median household income is $74,766. The home-value-to-income ratio is 3.0x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Cherry Valley?
The poverty rate in Cherry Valley, IL is 7.1%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Cherry Valley, IL?
Cherry Valley's population is 16.2% White, 3.3% Hispanic or Latino, 0.0% Black or African American, 0.5% Asian, and 11.1% two or more races. 10.8% of residents are foreign-born.