Harvard, IL
Population 9,875 · Illinois
About Harvard, IL
Harvard is a small town located in Illinois with a population of 9,875 residents according to the latest US Census Bureau American Community Survey data. The median household income is $71,418 per year, which is 5% below the national median of $75,149. The median age of 30.5 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 Harvard features a median home value of $174,000, which is 29% below the national median of $244,900. This positions Harvard in a moderately priced market relative to the rest of the country. Median monthly rent is $1,184, 2% above the national average of $1,163/month. Of the 3,443 total housing units, 61% are owner-occupied (1,979 units) and 39% are renter-occupied (1,260 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Harvard shows an unemployment rate of 6.3%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 11.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Harvard have an average one-way commute time of 27.2 minutes.
Education & Demographics
19.2% of Harvard 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 48.6% White, 1.1% Hispanic or Latino, 2.2% Black or African American, and 3.0% Asian residents, with 16.3% of the population being foreign-born.
Cost of Living in Harvard, IL
Compared to national averages, Harvard has a median household income of $71,418 (5% below the national median of $75,149). Home values average $174,000, which is 29% below the national median. Monthly rent at $1,184 is 2% above the US average of $1,163. Within Illinois, Harvard's income is 5% below the state average of $75,072, and home values are 5% above the state median of $165,779.
Why Live in Harvard, IL?
Harvard offers affordable housing with a median home value of $174,000, below the US average of $244,900, and a low poverty rate of 11.5%, better than the national average.
Potential considerations include median household income ($71,418) that falls below the national average. However, Harvard’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Harvard has a population of 9,875 with a median age of 30.5 years. Compare Harvard with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Harvard
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Peru | 9,863 | $68,147 | $155,600 | Compare |
| Frankfort Square | 9,777 | $126,953 | $282,100 | Compare |
| Winfield | 9,982 | $143,102 | $363,400 | Compare |
| Mahomet | 9,755 | $114,904 | $293,200 | Compare |
| Sauk Village | 9,724 | $56,946 | $101,900 | Compare |
| Flossmoor | 9,666 | $137,768 | $309,100 | Compare |
| Itasca | 9,525 | $111,898 | $375,600 | Compare |
| Highland | 10,268 | $77,886 | $185,800 | 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 Harvard With Other Cities
Frequently Asked Questions about Harvard
What is the population of Harvard, IL?
The population of Harvard, IL is 9,875 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 Harvard?
The median household income in Harvard, IL is $71,418 per year, which is 5% below the national median of $75,149.
What is the median home value in Harvard?
The median home value in Harvard, IL is $174,000, which is 29% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Harvard?
The median monthly rent in Harvard, IL is $1,184, which is 2% above the national average of $1,163/month.
What is the unemployment rate in Harvard?
The unemployment rate in Harvard, IL is 6.3%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Harvard, IL a good place to live?
Harvard offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 9,875 and a median age of 30.5, the city appeals to young professionals and families.
How educated is Harvard, IL?
19.2% of residents in Harvard 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 Harvard?
Key cost-of-living indicators for Harvard, IL: median home value is $174,000 (29% below national), median rent is $1,184/month, and median household income is $71,418. The home-value-to-income ratio is 2.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Harvard?
The poverty rate in Harvard, IL is 11.5%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Harvard, IL?
Harvard's population is 48.6% White, 1.1% Hispanic or Latino, 2.2% Black or African American, 3.0% Asian, and 0.5% two or more races. 16.3% of residents are foreign-born.