Fairmont, IL
Population 2,409 · Illinois
About Fairmont, IL
Fairmont is a small town located in Illinois with a population of 2,409 residents according to the latest US Census Bureau American Community Survey data. The median household income is $59,244 per year, which is 21% below the national median of $75,149. The median age of 31.3 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 Fairmont features a median home value of $147,400, which is 40% below the national median of $244,900. This positions Fairmont in a moderately priced market relative to the rest of the country. Median monthly rent is $1,372, 18% above the national average of $1,163/month. Of the 969 total housing units, 63% are owner-occupied (508 units) and 37% are renter-occupied (298 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Fairmont shows an unemployment rate of 8.7%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 17.0%, above the national average of 12.4%. Workers in Fairmont have an average one-way commute time of 22.5 minutes.
Education & Demographics
17.2% of Fairmont 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 41.7% White, 5.8% Hispanic or Latino, 4.9% Black or African American, and 4.8% Asian residents, with 15.3% of the population being foreign-born.
Cost of Living in Fairmont, IL
Compared to national averages, Fairmont has a median household income of $59,244 (21% below the national median of $75,149). Home values average $147,400, which is 40% below the national median. Monthly rent at $1,372 is 18% above the US average of $1,163. Within Illinois, Fairmont's income is 21% below the state average of $75,072, and home values are 11% below the state median of $165,779.
Why Live in Fairmont, IL?
Fairmont offers affordable housing with a median home value of $147,400, below the US average of $244,900, and short commute times averaging just 22.5 minutes.
Potential considerations include median household income ($59,244) that falls below the national average. However, Fairmont’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Fairmont has a population of 2,409 with a median age of 31.3 years. Compare Fairmont with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Fairmont
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Christopher | 2,413 | $42,244 | $68,800 | Compare |
| Amboy | 2,396 | $76,667 | $132,600 | Compare |
| Willowbrook | 2,432 | $87,188 | $275,700 | Compare |
| Villa Grove | 2,375 | $69,900 | $99,600 | Compare |
| Aviston | 2,451 | $111,354 | $217,000 | Compare |
| Oakwood Hills | 2,454 | $113,125 | $273,200 | Compare |
| Fairmont City | 2,354 | $43,333 | $65,500 | Compare |
| White Hall | 2,354 | $52,685 | $72,500 | 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 Fairmont With Other Cities
Frequently Asked Questions about Fairmont
What is the population of Fairmont, IL?
The population of Fairmont, IL is 2,409 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 Fairmont?
The median household income in Fairmont, IL is $59,244 per year, which is 21% below the national median of $75,149.
What is the median home value in Fairmont?
The median home value in Fairmont, IL is $147,400, which is 40% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Fairmont?
The median monthly rent in Fairmont, IL is $1,372, which is 18% above the national average of $1,163/month.
What is the unemployment rate in Fairmont?
The unemployment rate in Fairmont, IL is 8.7%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Fairmont, IL a good place to live?
Fairmont offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 2,409 and a median age of 31.3, the city appeals to young professionals and families.
How educated is Fairmont, IL?
17.2% of residents in Fairmont 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 Fairmont?
Key cost-of-living indicators for Fairmont, IL: median home value is $147,400 (40% below national), median rent is $1,372/month, and median household income is $59,244. The home-value-to-income ratio is 2.5x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Fairmont?
The poverty rate in Fairmont, IL is 17.0%, 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 Fairmont, IL?
Fairmont's population is 41.7% White, 5.8% Hispanic or Latino, 4.9% Black or African American, 4.8% Asian, and 25.9% two or more races. 15.3% of residents are foreign-born.