Colchester, IL
Population 1,057 · Illinois
About Colchester, IL
Colchester is a small town located in Illinois with a population of 1,057 residents according to the latest US Census Bureau American Community Survey data. The median household income is $62,500 per year, which is 17% below the national median of $75,149. The median age of 40.6 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Colchester features a median home value of $86,500, which is 65% below the national median of $244,900. This makes Colchester one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $808, 31% below the national average of $1,163/month. Of the 575 total housing units, 74% are owner-occupied (368 units) and 26% are renter-occupied (132 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Colchester shows an unemployment rate of 4.4%, which is near the national rate of 3.7%. The poverty rate stands at 9.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Colchester have an average one-way commute time of 16 minutes, one of the shorter commutes in the region.
Education & Demographics
18.7% of Colchester 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 2.9% White, 1.3% Hispanic or Latino, 0.1% Black or African American, and 0.0% Asian residents, with 0.5% of the population being foreign-born.
Cost of Living in Colchester, IL
Compared to national averages, Colchester has a median household income of $62,500 (17% below the national median of $75,149). Home values average $86,500, which is 65% below the national median. Monthly rent at $808 is 31% below the US average of $1,163. Within Illinois, Colchester's income is 17% below the state average of $75,072, and home values are 48% below the state median of $165,779.
Why Live in Colchester, IL?
Colchester offers affordable housing with a median home value of $86,500, below the US average of $244,900, and rent that’s lower than the national average at $808/month, and a low poverty rate of 9.7%, better than the national average. Additionally, the city features short commute times averaging just 16 minutes.
Potential considerations include median household income ($62,500) that falls below the national average. However, Colchester’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Colchester has a population of 1,057 with a median age of 40.6 years. Compare Colchester with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Colchester
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Cobden | 1,064 | $42,250 | $106,400 | Compare |
| Wayne City | 1,050 | $58,208 | $108,600 | Compare |
| Raymond | 1,065 | $64,063 | $96,600 | Compare |
| St. Anne | 1,070 | $71,574 | $129,500 | Compare |
| Andalusia | 1,073 | $72,589 | $150,200 | Compare |
| Royalton | 1,076 | $49,625 | $51,900 | Compare |
| Warrensburg | 1,076 | $88,897 | $141,100 | Compare |
| Grandview | 1,077 | $48,906 | $72,900 | 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 Colchester With Other Cities
Frequently Asked Questions about Colchester
What is the population of Colchester, IL?
The population of Colchester, IL is 1,057 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 Colchester?
The median household income in Colchester, IL is $62,500 per year, which is 17% below the national median of $75,149.
What is the median home value in Colchester?
The median home value in Colchester, IL is $86,500, which is 65% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Colchester?
The median monthly rent in Colchester, IL is $808, which is 31% below the national average of $1,163/month.
What is the unemployment rate in Colchester?
The unemployment rate in Colchester, IL is 4.4%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Colchester, IL a good place to live?
Colchester offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 1,057 and a median age of 40.6, the city appeals to a broad range of residents.
How educated is Colchester, IL?
18.7% of residents in Colchester 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 Colchester?
Key cost-of-living indicators for Colchester, IL: median home value is $86,500 (65% below national), median rent is $808/month, and median household income is $62,500. The home-value-to-income ratio is 1.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Colchester?
The poverty rate in Colchester, IL is 9.7%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Colchester, IL?
Colchester's population is 2.9% White, 1.3% Hispanic or Latino, 0.1% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.5% of residents are foreign-born.