Loraine, IL
Population 407 · Illinois
About Loraine, IL
Loraine is a small community in Illinois with a population of 407 residents. The median household income is $56,855 per year, which is near the national average. The median age in Loraine is 48.6 years.
Housing in Loraine has a median home value of $88,100 and median monthly rent of $629. Of the 189 total housing units, the majority are owner-occupied, with 147 owner-occupied and 27 renter-occupied units.
The unemployment rate in Loraine is 5.7% and the poverty rate is 9.1%. 6.9% of residents hold a bachelor's degree or higher. The average commute time is 26.3 minutes.
Cost of Living in Loraine, IL
Compared to national averages, Loraine has a median household income of $56,855 (24% below the national median of $75,149). Home values average $88,100, which is 64% below the national median. Monthly rent at $629 is 46% below the US average of $1,163. Within Illinois, Loraine's income is 24% below the state average of $75,072, and home values are 47% below the state median of $165,779.
Why Live in Loraine, IL?
Loraine offers affordable housing with a median home value of $88,100, below the US average of $244,900, and rent that’s lower than the national average at $629/month, and a low poverty rate of 9.1%, better than the national average.
Potential considerations include median household income ($56,855) that falls below the national average. However, Loraine’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Loraine has a population of 407 with a median age of 48.6 years. Compare Loraine with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Loraine
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 Loraine With Other Cities
Frequently Asked Questions about Loraine
What is the population of Loraine, IL?
The population of Loraine, IL is 407 according to the latest Census data.
What is the median household income in Loraine?
The median household income in Loraine, IL is $56,855 per year.
What is the median home value in Loraine?
The median home value in Loraine, IL is $88,100.
What is the average rent in Loraine?
The median monthly rent in Loraine, IL is $629.
What is the unemployment rate in Loraine?
The unemployment rate in Loraine, IL is 5.7%.