Chestnut, IL
Population 297 · Illinois
About Chestnut, IL
Chestnut is a small community located in Illinois with a population of 297 residents according to the latest US Census Bureau American Community Survey data. The median household income is $51,875 per year, which is 31% below the national median of $75,149. The median age of 47.4 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 Chestnut features a median home value of $137,800, which is 44% below the national median of $244,900. This makes Chestnut one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 126 total housing units, 94% are owner-occupied (118 units) and 6% are renter-occupied (8 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Chestnut shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 19.9%, above the national average of 12.4%. Workers in Chestnut have an average one-way commute time of 17.9 minutes, one of the shorter commutes in the region.
Education & Demographics
0.0% of Chestnut 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 52.9% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 29.3% of the population being foreign-born.
Cost of Living in Chestnut, IL
Compared to national averages, Chestnut has a median household income of $51,875 (31% below the national median of $75,149). Home values average $137,800, which is 44% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Illinois, Chestnut's income is 31% below the state average of $75,072, and home values are 17% below the state median of $165,779.
Why Live in Chestnut, IL?
Chestnut offers affordable housing with a median home value of $137,800, below the US average of $244,900, and rent that’s lower than the national average at $0/month, and a strong job market with an unemployment rate of just 0.0%. Additionally, the city features short commute times averaging just 17.9 minutes.
Potential considerations include median household income ($51,875) that falls below the national average. However, Chestnut’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Chestnut has a population of 297 with a median age of 47.4 years. Compare Chestnut with other cities to see how it stacks up, or explore all cities in Illinois.
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Demographics
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Economy & Education
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Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Chestnut
What is the population of Chestnut, IL?
The population of Chestnut, IL is 297 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Illinois.
What is the median household income in Chestnut?
The median household income in Chestnut, IL is $51,875 per year, which is 31% below the national median of $75,149.
What is the median home value in Chestnut?
The median home value in Chestnut, IL is $137,800, which is 44% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Chestnut?
The median monthly rent in Chestnut, IL is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Chestnut?
The unemployment rate in Chestnut, IL is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Chestnut, IL a good place to live?
Chestnut offers a moderate cost of living, affordable housing, and a strong job market. With a population of 297 and a median age of 47.4, the city appeals to established professionals and retirees.
How educated is Chestnut, IL?
0.0% of residents in Chestnut 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 Chestnut?
Key cost-of-living indicators for Chestnut, IL: median home value is $137,800 (44% below national), median rent is $0/month, and median household income is $51,875. The home-value-to-income ratio is 2.7x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Chestnut?
The poverty rate in Chestnut, IL is 19.9%, 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 Chestnut, IL?
Chestnut's population is 52.9% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 29.3% of residents are foreign-born.