Cornell, IL
Population 419 · Illinois
About Cornell, IL
Cornell is a small community located in Illinois with a population of 419 residents according to the latest US Census Bureau American Community Survey data. The median household income is $64,286 per year, which is 14% 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 Cornell features a median home value of $83,800, which is 66% below the national median of $244,900. This makes Cornell one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $871, 25% below the national average of $1,163/month. Of the 201 total housing units, 74% are owner-occupied (125 units) and 26% are renter-occupied (43 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Cornell shows an unemployment rate of 1.5%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 20.1%, above the national average of 12.4%. Workers in Cornell have an average one-way commute time of 19.5 minutes, one of the shorter commutes in the region.
Education & Demographics
16.7% of Cornell 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 3.8% White, 3.1% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.2% of the population being foreign-born.
Cost of Living in Cornell, IL
Compared to national averages, Cornell has a median household income of $64,286 (14% below the national median of $75,149). Home values average $83,800, which is 66% below the national median. Monthly rent at $871 is 25% below the US average of $1,163. Within Illinois, Cornell's income is 14% below the state average of $75,072, and home values are 49% below the state median of $165,779.
Why Live in Cornell, IL?
Cornell offers affordable housing with a median home value of $83,800, below the US average of $244,900, and rent that’s lower than the national average at $871/month, and a strong job market with an unemployment rate of just 1.5%. Additionally, the city features short commute times averaging just 19.5 minutes.
Potential considerations include median household income ($64,286) that falls below the national average. However, Cornell’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Cornell has a population of 419 with a median age of 34.8 years. Compare Cornell with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Cornell
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Beecher City | 419 | $47,500 | $85,300 | Compare |
| Boody | 420 | $60,859 | $112,100 | Compare |
| Westfield | 418 | $62,986 | $72,000 | Compare |
| Willisville | 416 | $57,813 | $54,400 | Compare |
| Liberty | 423 | $85,417 | $124,000 | Compare |
| Monroe Center | 415 | $91,563 | $148,000 | Compare |
| Andover | 425 | $68,281 | $139,600 | Compare |
| Davis | 425 | $64,107 | $150,000 | 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 Cornell With Other Cities
Frequently Asked Questions about Cornell
What is the population of Cornell, IL?
The population of Cornell, IL is 419 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 Cornell?
The median household income in Cornell, IL is $64,286 per year, which is 14% below the national median of $75,149.
What is the median home value in Cornell?
The median home value in Cornell, IL is $83,800, which is 66% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Cornell?
The median monthly rent in Cornell, IL is $871, which is 25% below the national average of $1,163/month.
What is the unemployment rate in Cornell?
The unemployment rate in Cornell, IL is 1.5%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Cornell, IL a good place to live?
Cornell offers a moderate cost of living, affordable housing, and a strong job market. With a population of 419 and a median age of 34.8, the city appeals to young professionals and families.
How educated is Cornell, IL?
16.7% of residents in Cornell 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 Cornell?
Key cost-of-living indicators for Cornell, IL: median home value is $83,800 (66% below national), median rent is $871/month, and median household income is $64,286. The home-value-to-income ratio is 1.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Cornell?
The poverty rate in Cornell, IL is 20.1%, 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 Cornell, IL?
Cornell's population is 3.8% White, 3.1% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.2% of residents are foreign-born.