Grandwood Park, IL
Population 5,311 · Illinois
About Grandwood Park, IL
Grandwood Park is a small community in Illinois with a population of 5,311 residents. The median household income is $124,847 per year, which is above the national average. The median age in Grandwood Park is 42.2 years.
Housing in Grandwood Park has a median home value of $313,000 and median monthly rent of $1,797. Of the 2,135 total housing units, the majority are owner-occupied, with 1,732 owner-occupied and 264 renter-occupied units.
The unemployment rate in Grandwood Park is 2.0% and the poverty rate is 2.1%. 59.1% of residents hold a bachelor's degree or higher. The average commute time is 27.2 minutes.
Cost of Living in Grandwood Park, IL
Compared to national averages, Grandwood Park has a median household income of $124,847 (66% above the national median of $75,149). Home values average $313,000, which is 28% above the national median. Monthly rent at $1,797 is 55% above the US average of $1,163. Within Illinois, Grandwood Park's income is 66% above the state average of $75,072, and home values are 89% above the state median of $165,779.
Why Live in Grandwood Park, IL?
Grandwood Park offers a strong local economy with a median household income of $124,847, well above the national average, and a strong job market with an unemployment rate of just 2.0%, and a well-educated community where 59.1% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 2.1%, better than the national average.
Grandwood Park has a population of 5,311 with a median age of 42.2 years. Compare Grandwood Park with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Grandwood Park
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Posen | 5,331 | $71,994 | $172,800 | Compare |
| Pana | 5,277 | $45,083 | $82,000 | Compare |
| Highwood | 5,243 | $101,862 | $454,500 | Compare |
| Berkeley | 5,222 | $83,224 | $222,400 | Compare |
| Lake Barrington | 5,400 | $132,857 | $451,400 | Compare |
| Lake Holiday | 5,402 | $112,250 | $235,300 | Compare |
| Colona | 5,189 | $76,558 | $152,100 | Compare |
| Candlewick Lake | 5,459 | $94,820 | $169,200 | 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.
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Frequently Asked Questions about Grandwood Park
What is the population of Grandwood Park, IL?
The population of Grandwood Park, IL is 5,311 according to the latest Census data.
What is the median household income in Grandwood Park?
The median household income in Grandwood Park, IL is $124,847 per year.
What is the median home value in Grandwood Park?
The median home value in Grandwood Park, IL is $313,000.
What is the average rent in Grandwood Park?
The median monthly rent in Grandwood Park, IL is $1,797.
What is the unemployment rate in Grandwood Park?
The unemployment rate in Grandwood Park, IL is 2.0%.