Inverness, IL
Population 7,541 · Illinois
About Inverness, IL
Inverness is a small town located in Illinois with a population of 7,541 residents according to the latest US Census Bureau American Community Survey data. The median household income is $215,810 per year, which is 187% above the national median of $75,149. The median age of 54.3 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 Inverness features a median home value of $704,100, which is 188% above the national median of $244,900. This places Inverness in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $3,501, 201% above the national average of $1,163/month. Of the 2,938 total housing units, 98% are owner-occupied (2,640 units) and 2% are renter-occupied (58 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Inverness 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 2.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Inverness have an average one-way commute time of 27.1 minutes.
Education & Demographics
68.8% of Inverness residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 0.6% White, 0.3% Hispanic or Latino, 0.3% Black or African American, and 0.1% Asian residents, with 22.8% of the population being foreign-born.
How Inverness Ranks in Illinois
Cost of Living in Inverness, IL
Compared to national averages, Inverness has a median household income of $215,810 (187% above the national median of $75,149). Home values average $704,100, which is 188% above the national median. Monthly rent at $3,501 is 201% above the US average of $1,163. Within Illinois, Inverness's income is 187% above the state average of $75,072, and home values are 325% above the state median of $165,779.
Why Live in Inverness, IL?
Inverness offers a strong local economy with a median household income of $215,810, well above the national average, and a strong job market with an unemployment rate of just 2.7%, and a well-educated community where 68.8% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 2.7%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $704,100. However, Inverness’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Inverness has a population of 7,541 with a median age of 54.3 years. Compare Inverness with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Inverness
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| North Riverside | 7,495 | $80,753 | $295,100 | Compare |
| Park City | 7,631 | $62,875 | $0 | Compare |
| Jerseyville | 7,432 | $71,623 | $124,200 | Compare |
| Salem | 7,341 | $57,083 | $99,800 | Compare |
| Princeton | 7,829 | $57,682 | $131,300 | Compare |
| Round Lake Park | 7,833 | $57,486 | $157,900 | Compare |
| West Dundee | 7,867 | $104,750 | $342,900 | Compare |
| Broadview | 7,898 | $60,139 | $240,600 | 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 Inverness With Other Cities
Frequently Asked Questions about Inverness
What is the population of Inverness, IL?
The population of Inverness, IL is 7,541 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 Inverness?
The median household income in Inverness, IL is $215,810 per year, which is 187% above the national median of $75,149.
What is the median home value in Inverness?
The median home value in Inverness, IL is $704,100, which is 188% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Inverness?
The median monthly rent in Inverness, IL is $3,501, which is 201% above the national average of $1,163/month.
What is the unemployment rate in Inverness?
The unemployment rate in Inverness, 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 Inverness, IL a good place to live?
Inverness offers above-average incomes, a competitive housing market, and a strong job market. With a population of 7,541 and a median age of 54.3, the city appeals to established professionals and retirees.
How educated is Inverness, IL?
68.8% of residents in Inverness aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Inverness?
Key cost-of-living indicators for Inverness, IL: median home value is $704,100 (188% above national), median rent is $3,501/month, and median household income is $215,810. The home-value-to-income ratio is 3.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Inverness?
The poverty rate in Inverness, IL is 2.7%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Inverness, IL?
Inverness's population is 0.6% White, 0.3% Hispanic or Latino, 0.3% Black or African American, 0.1% Asian, and 1.4% two or more races. 22.8% of residents are foreign-born.