Lake of the Woods, IL
Population 1,976 · Illinois
About Lake of the Woods, IL
Lake of the Woods is a small community in Illinois with a population of 1,976 residents. The median household income is $69,054 per year, which is near the national average. The median age in Lake of the Woods is 41.1 years.
Housing in Lake of the Woods has a median home value of $194,300 and median monthly rent of $1,201. Of the 763 total housing units, the majority are owner-occupied, with 630 owner-occupied and 133 renter-occupied units.
The unemployment rate in Lake of the Woods is 9.9% and the poverty rate is 6.9%. 38.0% of residents hold a bachelor's degree or higher. The average commute time is 18.9 minutes.
Cost of Living in Lake of the Woods, IL
Compared to national averages, Lake of the Woods has a median household income of $69,054 (8% below the national median of $75,149). Home values average $194,300, which is 21% below the national median. Monthly rent at $1,201 is 3% above the US average of $1,163. Within Illinois, Lake of the Woods's income is 8% below the state average of $75,072, and home values are 17% above the state median of $165,779.
Why Live in Lake of the Woods, IL?
Lake of the Woods offers affordable housing with a median home value of $194,300, below the US average of $244,900, and a well-educated community where 38.0% of residents hold a bachelor’s degree or higher, and a low poverty rate of 6.9%, better than the national average. Additionally, the city features short commute times averaging just 18.9 minutes.
Potential considerations include median household income ($69,054) that falls below the national average. However, Lake of the Woods’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lake of the Woods has a population of 1,976 with a median age of 41.1 years. Compare Lake of the Woods with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Lake of the Woods
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Mount Olive | 1,979 | $55,139 | $96,600 | Compare |
| Crystal Lawns | 1,965 | $109,415 | $234,600 | Compare |
| Roanoke | 1,987 | $74,141 | $139,800 | Compare |
| Channel Lake | 1,988 | $63,958 | $210,400 | Compare |
| Farmington | 1,990 | $64,313 | $99,300 | Compare |
| Prairie Grove | 1,992 | $138,229 | $439,100 | Compare |
| Port Byron | 1,959 | $101,250 | $259,300 | Compare |
| Farmer City | 2,001 | $73,147 | $128,900 | 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 Lake of the Woods
What is the population of Lake of the Woods, IL?
The population of Lake of the Woods, IL is 1,976 according to the latest Census data.
What is the median household income in Lake of the Woods?
The median household income in Lake of the Woods, IL is $69,054 per year.
What is the median home value in Lake of the Woods?
The median home value in Lake of the Woods, IL is $194,300.
What is the average rent in Lake of the Woods?
The median monthly rent in Lake of the Woods, IL is $1,201.
What is the unemployment rate in Lake of the Woods?
The unemployment rate in Lake of the Woods, IL is 9.9%.