Liberty, IL
Population 423 · Illinois
About Liberty, IL
Liberty is a small community located in Illinois with a population of 423 residents according to the latest US Census Bureau American Community Survey data. The median household income is $85,417 per year, which is 14% above the national median of $75,149. The median age of 36.3 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Liberty features a median home value of $124,000, which is 49% below the national median of $244,900. This makes Liberty one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $1,036, 11% below the national average of $1,163/month. Of the 151 total housing units, 83% are owner-occupied (121 units) and 17% are renter-occupied (24 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Liberty shows an unemployment rate of 0.9%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 4.3%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Liberty have an average one-way commute time of 25.2 minutes.
Education & Demographics
19.4% of Liberty 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, 0.2% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.5% of the population being foreign-born.
How Liberty Ranks in Illinois
Cost of Living in Liberty, IL
Compared to national averages, Liberty has a median household income of $85,417 (14% above the national median of $75,149). Home values average $124,000, which is 49% below the national median. Monthly rent at $1,036 is 11% below the US average of $1,163. Within Illinois, Liberty's income is 14% above the state average of $75,072, and home values are 25% below the state median of $165,779.
Why Live in Liberty, IL?
Liberty offers a strong local economy with a median household income of $85,417, well above the national average, and affordable housing with a median home value of $124,000, below the US average of $244,900, and rent that’s lower than the national average at $1,036/month. Additionally, the city features a strong job market with an unemployment rate of just 0.9%, and a low poverty rate of 4.3%, better than the national average.
Liberty has a population of 423 with a median age of 36.3 years. Compare Liberty with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Liberty
Cities in Illinois with a similar population size.
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 Liberty With Other Cities
Frequently Asked Questions about Liberty
What is the population of Liberty, IL?
The population of Liberty, IL is 423 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 Liberty?
The median household income in Liberty, IL is $85,417 per year, which is 14% above the national median of $75,149.
What is the median home value in Liberty?
The median home value in Liberty, IL is $124,000, which is 49% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Liberty?
The median monthly rent in Liberty, IL is $1,036, which is 11% below the national average of $1,163/month.
What is the unemployment rate in Liberty?
The unemployment rate in Liberty, IL is 0.9%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Liberty, IL a good place to live?
Liberty offers above-average incomes, affordable housing, and a strong job market. With a population of 423 and a median age of 36.3, the city appeals to a broad range of residents.
How educated is Liberty, IL?
19.4% of residents in Liberty 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 Liberty?
Key cost-of-living indicators for Liberty, IL: median home value is $124,000 (49% below national), median rent is $1,036/month, and median household income is $85,417. The home-value-to-income ratio is 1.5x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Liberty?
The poverty rate in Liberty, IL is 4.3%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Liberty, IL?
Liberty's population is 0.0% White, 0.2% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.5% of residents are foreign-born.