Elizabeth, IL
Population 764 · Illinois
About Elizabeth, IL
Elizabeth is a small community located in Illinois with a population of 764 residents according to the latest US Census Bureau American Community Survey data. The median household income is $47,500 per year, which is 37% below the national median of $75,149. The median age of 48 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 Elizabeth features a median home value of $115,500, which is 53% below the national median of $244,900. This makes Elizabeth one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $741, 36% below the national average of $1,163/month. Of the 427 total housing units, 65% are owner-occupied (249 units) and 35% are renter-occupied (137 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Elizabeth shows an unemployment rate of 1.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 13.8%, above the national average of 12.4%. Workers in Elizabeth have an average one-way commute time of 25.7 minutes.
Education & Demographics
22.3% of Elizabeth 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 5.8% White, 0.1% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 2.1% of the population being foreign-born.
How Elizabeth Ranks in Illinois
Cost of Living in Elizabeth, IL
Compared to national averages, Elizabeth has a median household income of $47,500 (37% below the national median of $75,149). Home values average $115,500, which is 53% below the national median. Monthly rent at $741 is 36% below the US average of $1,163. Within Illinois, Elizabeth's income is 37% below the state average of $75,072, and home values are 30% below the state median of $165,779.
Why Live in Elizabeth, IL?
Elizabeth offers affordable housing with a median home value of $115,500, below the US average of $244,900, and rent that’s lower than the national average at $741/month, and a strong job market with an unemployment rate of just 1.0%.
Potential considerations include median household income ($47,500) that falls below the national average. However, Elizabeth’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Elizabeth has a population of 764 with a median age of 48 years. Compare Elizabeth with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Elizabeth
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Ridgway | 764 | $42,404 | $73,700 | Compare |
| Ashkum | 765 | $67,500 | $136,500 | Compare |
| Lake Carroll | 763 | $101,250 | $317,900 | Compare |
| Tiskilwa | 762 | $60,750 | $88,300 | Compare |
| Bartelso | 768 | $93,929 | $192,000 | Compare |
| Kirkwood | 769 | $70,385 | $89,500 | Compare |
| Lake Petersburg | 769 | $124,643 | $336,200 | Compare |
| West Salem | 769 | $50,500 | $65,800 | 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 Elizabeth With Other Cities
Frequently Asked Questions about Elizabeth
What is the population of Elizabeth, IL?
The population of Elizabeth, IL is 764 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 Elizabeth?
The median household income in Elizabeth, IL is $47,500 per year, which is 37% below the national median of $75,149.
What is the median home value in Elizabeth?
The median home value in Elizabeth, IL is $115,500, which is 53% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Elizabeth?
The median monthly rent in Elizabeth, IL is $741, which is 36% below the national average of $1,163/month.
What is the unemployment rate in Elizabeth?
The unemployment rate in Elizabeth, IL is 1.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Elizabeth, IL a good place to live?
Elizabeth offers a moderate cost of living, affordable housing, and a strong job market. With a population of 764 and a median age of 48, the city appeals to established professionals and retirees.
How educated is Elizabeth, IL?
22.3% of residents in Elizabeth 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 Elizabeth?
Key cost-of-living indicators for Elizabeth, IL: median home value is $115,500 (53% below national), median rent is $741/month, and median household income is $47,500. The home-value-to-income ratio is 2.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Elizabeth?
The poverty rate in Elizabeth, IL is 13.8%, 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 Elizabeth, IL?
Elizabeth's population is 5.8% White, 0.1% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.3% two or more races. 2.1% of residents are foreign-born.