Diamond, IL
Population 2,900 · Illinois
About Diamond, IL
Diamond is a small town located in Illinois with a population of 2,900 residents according to the latest US Census Bureau American Community Survey data. The median household income is $60,000 per year, which is 20% below the national median of $75,149. The median age of 36.2 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Diamond features a median home value of $211,500, which is 14% below the national median of $244,900. This positions Diamond in a moderately priced market relative to the rest of the country. Median monthly rent is $1,224, 5% above the national average of $1,163/month. Of the 1,166 total housing units, 79% are owner-occupied (919 units) and 21% are renter-occupied (241 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Diamond shows an unemployment rate of 0.7%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 14.1%, above the national average of 12.4%. Workers in Diamond have an average one-way commute time of 27.4 minutes.
Education & Demographics
12.1% of Diamond 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 5.0% White, 0.2% Hispanic or Latino, 1.7% Black or African American, and 0.1% Asian residents, with 0.6% of the population being foreign-born.
How Diamond Ranks in Illinois
Cost of Living in Diamond, IL
Compared to national averages, Diamond has a median household income of $60,000 (20% below the national median of $75,149). Home values average $211,500, which is 14% below the national median. Monthly rent at $1,224 is 5% above the US average of $1,163. Within Illinois, Diamond's income is 20% below the state average of $75,072, and home values are 28% above the state median of $165,779.
Why Live in Diamond, IL?
Diamond offers affordable housing with a median home value of $211,500, below the US average of $244,900, and a strong job market with an unemployment rate of just 0.7%.
Potential considerations include median household income ($60,000) that falls below the national average. However, Diamond’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Diamond has a population of 2,900 with a median age of 36.2 years. Compare Diamond with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Diamond
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Galena | 2,899 | $55,765 | $199,700 | Compare |
| Winnebago | 2,896 | $82,813 | $180,300 | Compare |
| El Paso | 2,871 | $70,063 | $149,200 | Compare |
| Arcola | 2,867 | $85,697 | $122,800 | Compare |
| Newton | 2,852 | $58,564 | $98,900 | Compare |
| Savanna | 2,851 | $46,094 | $75,000 | Compare |
| Dixmoor | 2,962 | $39,861 | $75,500 | Compare |
| Ingalls Park | 2,970 | $55,268 | $143,800 | 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 Diamond With Other Cities
Frequently Asked Questions about Diamond
What is the population of Diamond, IL?
The population of Diamond, IL is 2,900 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 Diamond?
The median household income in Diamond, IL is $60,000 per year, which is 20% below the national median of $75,149.
What is the median home value in Diamond?
The median home value in Diamond, IL is $211,500, which is 14% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Diamond?
The median monthly rent in Diamond, IL is $1,224, which is 5% above the national average of $1,163/month.
What is the unemployment rate in Diamond?
The unemployment rate in Diamond, IL is 0.7%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Diamond, IL a good place to live?
Diamond offers a moderate cost of living, affordable housing, and a strong job market. With a population of 2,900 and a median age of 36.2, the city appeals to a broad range of residents.
How educated is Diamond, IL?
12.1% of residents in Diamond 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 Diamond?
Key cost-of-living indicators for Diamond, IL: median home value is $211,500 (14% below national), median rent is $1,224/month, and median household income is $60,000. The home-value-to-income ratio is 3.5x, a moderate figure by national standards.
What is the poverty rate in Diamond?
The poverty rate in Diamond, IL is 14.1%, 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 Diamond, IL?
Diamond's population is 5.0% White, 0.2% Hispanic or Latino, 1.7% Black or African American, 0.1% Asian, and 0.0% two or more races. 0.6% of residents are foreign-born.