Lima, IL
Population 231 · Illinois
About Lima, IL
Lima is a small community located in Illinois with a population of 231 residents according to the latest US Census Bureau American Community Survey data. The median household income is $71,250 per year, which is 5% below the national median of $75,149. The median age of 35.1 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 Lima features a median home value of $89,200, which is 64% below the national median of $244,900. This makes Lima 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 83 total housing units, 77% are owner-occupied (58 units) and 23% are renter-occupied (17 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Lima shows an unemployment rate of 11.9%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 6.1%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Lima have an average one-way commute time of 28.4 minutes.
Education & Demographics
5.0% of Lima 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, 0.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
Cost of Living in Lima, IL
Compared to national averages, Lima has a median household income of $71,250 (5% below the national median of $75,149). Home values average $89,200, which is 64% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Illinois, Lima's income is 5% below the state average of $75,072, and home values are 46% below the state median of $165,779.
Why Live in Lima, IL?
Lima offers affordable housing with a median home value of $89,200, 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 6.1%, better than the national average.
Potential considerations include median household income ($71,250) that falls below the national average. However, Lima’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lima has a population of 231 with a median age of 35.1 years. Compare Lima with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Lima
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Coatsburg | 230 | $68,750 | $69,500 | Compare |
| Pulaski | 230 | $31,290 | $84,400 | Compare |
| Cave-In-Rock | 229 | $26,563 | $0 | Compare |
| Ellsworth | 229 | $73,438 | $123,500 | Compare |
| New Holland | 229 | $88,125 | $81,500 | Compare |
| Palmer | 233 | $52,917 | $80,400 | Compare |
| Parkersburg | 233 | $42,417 | $54,300 | Compare |
| Long Point | 228 | $46,786 | $84,200 | 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 Lima With Other Cities
Frequently Asked Questions about Lima
What is the population of Lima, IL?
The population of Lima, IL is 231 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 Lima?
The median household income in Lima, IL is $71,250 per year, which is 5% below the national median of $75,149.
What is the median home value in Lima?
The median home value in Lima, IL is $89,200, which is 64% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lima?
The median monthly rent in Lima, IL is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Lima?
The unemployment rate in Lima, IL is 11.9%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Lima, IL a good place to live?
Lima offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 231 and a median age of 35.1, the city appeals to a broad range of residents.
How educated is Lima, IL?
5.0% of residents in Lima 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 Lima?
Key cost-of-living indicators for Lima, IL: median home value is $89,200 (64% below national), median rent is $0/month, and median household income is $71,250. The home-value-to-income ratio is 1.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Lima?
The poverty rate in Lima, IL is 6.1%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Lima, IL?
Lima's population is 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.