Lomax, IL
Population 321 · Illinois
About Lomax, IL
Lomax is a small community located in Illinois with a population of 321 residents according to the latest US Census Bureau American Community Survey data. The median household income is $51,875 per year, which is 31% below the national median of $75,149. The median age of 41.9 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Lomax features a median home value of $81,400, which is 67% below the national median of $244,900. This makes Lomax one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $825, 29% below the national average of $1,163/month. Of the 138 total housing units, 84% are owner-occupied (99 units) and 16% are renter-occupied (19 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Lomax shows an unemployment rate of 4.3%, which is near the national rate of 3.7%. The poverty rate stands at 13.7%, above the national average of 12.4%. Workers in Lomax have an average one-way commute time of 33.4 minutes.
Education & Demographics
16.7% of Lomax 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 14.0% 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 Lomax, IL
Compared to national averages, Lomax has a median household income of $51,875 (31% below the national median of $75,149). Home values average $81,400, which is 67% below the national median. Monthly rent at $825 is 29% below the US average of $1,163. Within Illinois, Lomax's income is 31% below the state average of $75,072, and home values are 51% below the state median of $165,779.
Why Live in Lomax, IL?
Lomax offers affordable housing with a median home value of $81,400, below the US average of $244,900, and rent that’s lower than the national average at $825/month.
Potential considerations include median household income ($51,875) that falls below the national average. However, Lomax’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lomax has a population of 321 with a median age of 41.9 years. Compare Lomax with other cities to see how it stacks up, or explore all cities in Illinois.
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Demographics
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Economy & Education
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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 Lomax
What is the population of Lomax, IL?
The population of Lomax, IL is 321 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 Lomax?
The median household income in Lomax, IL is $51,875 per year, which is 31% below the national median of $75,149.
What is the median home value in Lomax?
The median home value in Lomax, IL is $81,400, which is 67% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lomax?
The median monthly rent in Lomax, IL is $825, which is 29% below the national average of $1,163/month.
What is the unemployment rate in Lomax?
The unemployment rate in Lomax, IL is 4.3%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Lomax, IL a good place to live?
Lomax offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 321 and a median age of 41.9, the city appeals to a broad range of residents.
How educated is Lomax, IL?
16.7% of residents in Lomax 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 Lomax?
Key cost-of-living indicators for Lomax, IL: median home value is $81,400 (67% below national), median rent is $825/month, and median household income is $51,875. The home-value-to-income ratio is 1.6x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Lomax?
The poverty rate in Lomax, IL is 13.7%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Lomax, IL?
Lomax's population is 14.0% 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.