Hanaford, IL
Population 327 · Illinois
About Hanaford, IL
Hanaford is a small community located in Illinois with a population of 327 residents according to the latest US Census Bureau American Community Survey data. The median household income is $59,500 per year, which is 21% below the national median of $75,149. The median age of 44.6 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 Hanaford features a median home value of $56,100, which is 77% below the national median of $244,900. This makes Hanaford one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 158 total housing units, 93% are owner-occupied (126 units) and 7% are renter-occupied (10 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Hanaford shows an unemployment rate of 6.5%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 9.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Hanaford have an average one-way commute time of 18.8 minutes, one of the shorter commutes in the region.
Education & Demographics
3.7% of Hanaford 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, 4.6% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.9% of the population being foreign-born.
Cost of Living in Hanaford, IL
Compared to national averages, Hanaford has a median household income of $59,500 (21% below the national median of $75,149). Home values average $56,100, which is 77% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Illinois, Hanaford's income is 21% below the state average of $75,072, and home values are 66% below the state median of $165,779.
Why Live in Hanaford, IL?
Hanaford offers affordable housing with a median home value of $56,100, below the US average of $244,900, and rent that’s lower than the national average at $0/month, and a low poverty rate of 9.5%, better than the national average. Additionally, the city features short commute times averaging just 18.8 minutes.
Potential considerations include median household income ($59,500) that falls below the national average. However, Hanaford’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Hanaford has a population of 327 with a median age of 44.6 years. Compare Hanaford with other cities to see how it stacks up, or explore all cities in Illinois.
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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 Hanaford
What is the population of Hanaford, IL?
The population of Hanaford, IL is 327 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 Hanaford?
The median household income in Hanaford, IL is $59,500 per year, which is 21% below the national median of $75,149.
What is the median home value in Hanaford?
The median home value in Hanaford, IL is $56,100, which is 77% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Hanaford?
The median monthly rent in Hanaford, IL is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Hanaford?
The unemployment rate in Hanaford, IL is 6.5%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Hanaford, IL a good place to live?
Hanaford offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 327 and a median age of 44.6, the city appeals to a broad range of residents.
How educated is Hanaford, IL?
3.7% of residents in Hanaford 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 Hanaford?
Key cost-of-living indicators for Hanaford, IL: median home value is $56,100 (77% below national), median rent is $0/month, and median household income is $59,500. The home-value-to-income ratio is 0.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Hanaford?
The poverty rate in Hanaford, IL is 9.5%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Hanaford, IL?
Hanaford's population is 0.0% White, 4.6% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.9% of residents are foreign-born.