Farmer City, IL
Population 2,001 · Illinois
About Farmer City, IL
Farmer City is a small town located in Illinois with a population of 2,001 residents according to the latest US Census Bureau American Community Survey data. The median household income is $73,147 per year, which is 3% below the national median of $75,149. The median age of 40.9 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Farmer City features a median home value of $128,900, which is 47% below the national median of $244,900. This makes Farmer City one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $500, 57% below the national average of $1,163/month. Of the 862 total housing units, 85% are owner-occupied (656 units) and 15% are renter-occupied (113 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Farmer City shows an unemployment rate of 7.8%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 9.1%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Farmer City have an average one-way commute time of 24.5 minutes.
Education & Demographics
15.8% of Farmer City 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 0.4% White, 0.4% Hispanic or Latino, 0.0% Black or African American, and 0.4% Asian residents, with 0.2% of the population being foreign-born.
How Farmer City Ranks in Illinois
Cost of Living in Farmer City, IL
Compared to national averages, Farmer City has a median household income of $73,147 (3% below the national median of $75,149). Home values average $128,900, which is 47% below the national median. Monthly rent at $500 is 57% below the US average of $1,163. Within Illinois, Farmer City's income is 3% below the state average of $75,072, and home values are 22% below the state median of $165,779.
Why Live in Farmer City, IL?
Farmer City offers affordable housing with a median home value of $128,900, below the US average of $244,900, and rent that’s lower than the national average at $500/month, and a low poverty rate of 9.1%, better than the national average. Additionally, the city features short commute times averaging just 24.5 minutes.
Potential considerations include median household income ($73,147) that falls below the national average. However, Farmer City’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Farmer City has a population of 2,001 with a median age of 40.9 years. Compare Farmer City with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Farmer City
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Prairie Grove | 1,992 | $138,229 | $439,100 | Compare |
| Farmington | 1,990 | $64,313 | $99,300 | Compare |
| Channel Lake | 1,988 | $63,958 | $210,400 | Compare |
| Earlville | 2,015 | $62,763 | $127,300 | Compare |
| Roanoke | 1,987 | $74,141 | $139,800 | Compare |
| Mount Olive | 1,979 | $55,139 | $96,600 | Compare |
| Arthur | 2,024 | $52,115 | $146,200 | Compare |
| Lake of the Woods | 1,976 | $69,054 | $194,300 | 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 Farmer City With Other Cities
Frequently Asked Questions about Farmer City
What is the population of Farmer City, IL?
The population of Farmer City, IL is 2,001 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 Farmer City?
The median household income in Farmer City, IL is $73,147 per year, which is 3% below the national median of $75,149.
What is the median home value in Farmer City?
The median home value in Farmer City, IL is $128,900, which is 47% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Farmer City?
The median monthly rent in Farmer City, IL is $500, which is 57% below the national average of $1,163/month.
What is the unemployment rate in Farmer City?
The unemployment rate in Farmer City, IL is 7.8%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Farmer City, IL a good place to live?
Farmer City offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 2,001 and a median age of 40.9, the city appeals to a broad range of residents.
How educated is Farmer City, IL?
15.8% of residents in Farmer City 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 Farmer City?
Key cost-of-living indicators for Farmer City, IL: median home value is $128,900 (47% below national), median rent is $500/month, and median household income is $73,147. The home-value-to-income ratio is 1.8x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Farmer City?
The poverty rate in Farmer City, IL is 9.1%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Farmer City, IL?
Farmer City's population is 0.4% White, 0.4% Hispanic or Latino, 0.0% Black or African American, 0.4% Asian, and 0.0% two or more races. 0.2% of residents are foreign-born.