Fairmount, IL
Population 610 · Illinois
About Fairmount, IL
Fairmount is a small community located in Illinois with a population of 610 residents according to the latest US Census Bureau American Community Survey data. The median household income is $63,393 per year, which is 16% 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 Fairmount features a median home value of $95,900, which is 61% below the national median of $244,900. This makes Fairmount one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $735, 37% below the national average of $1,163/month. Of the 254 total housing units, 77% are owner-occupied (189 units) and 23% are renter-occupied (58 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Fairmount shows an unemployment rate of 2.7%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 13.3%, above the national average of 12.4%. Workers in Fairmount have an average one-way commute time of 25 minutes.
Education & Demographics
11.0% of Fairmount 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 0.0% White, 0.3% Hispanic or Latino, 0.0% Black or African American, and 0.3% Asian residents, with 0.0% of the population being foreign-born.
Cost of Living in Fairmount, IL
Compared to national averages, Fairmount has a median household income of $63,393 (16% below the national median of $75,149). Home values average $95,900, which is 61% below the national median. Monthly rent at $735 is 37% below the US average of $1,163. Within Illinois, Fairmount's income is 16% below the state average of $75,072, and home values are 42% below the state median of $165,779.
Why Live in Fairmount, IL?
Fairmount offers affordable housing with a median home value of $95,900, below the US average of $244,900, and rent that’s lower than the national average at $735/month, and a strong job market with an unemployment rate of just 2.7%.
Potential considerations include median household income ($63,393) that falls below the national average. However, Fairmount’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Fairmount has a population of 610 with a median age of 40.6 years. Compare Fairmount with other cities to see how it stacks up, or explore all cities in Illinois.
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Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Fairmount
What is the population of Fairmount, IL?
The population of Fairmount, IL is 610 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 Fairmount?
The median household income in Fairmount, IL is $63,393 per year, which is 16% below the national median of $75,149.
What is the median home value in Fairmount?
The median home value in Fairmount, IL is $95,900, which is 61% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Fairmount?
The median monthly rent in Fairmount, IL is $735, which is 37% below the national average of $1,163/month.
What is the unemployment rate in Fairmount?
The unemployment rate in Fairmount, IL is 2.7%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Fairmount, IL a good place to live?
Fairmount offers a moderate cost of living, affordable housing, and a strong job market. With a population of 610 and a median age of 40.6, the city appeals to a broad range of residents.
How educated is Fairmount, IL?
11.0% of residents in Fairmount 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 Fairmount?
Key cost-of-living indicators for Fairmount, IL: median home value is $95,900 (61% below national), median rent is $735/month, and median household income is $63,393. The home-value-to-income ratio is 1.5x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Fairmount?
The poverty rate in Fairmount, IL is 13.3%, 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 Fairmount, IL?
Fairmount's population is 0.0% White, 0.3% Hispanic or Latino, 0.0% Black or African American, 0.3% Asian, and 0.2% two or more races. 0.0% of residents are foreign-born.