Mill Shoals, IL
Population 138 · Illinois
About Mill Shoals, IL
Mill Shoals is a small community located in Illinois with a population of 138 residents according to the latest US Census Bureau American Community Survey data. The median household income is $58,542 per year, which is 22% below the national median of $75,149. The median age of 39.4 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Mill Shoals features a median home value of $60,000, which is 76% below the national median of $244,900. This makes Mill Shoals 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 76 total housing units, 97% are owner-occupied (62 units) and 3% are renter-occupied (2 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Mill Shoals shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 9.4%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Mill Shoals have an average one-way commute time of 27 minutes.
Education & Demographics
9.0% of Mill Shoals 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 0.7% 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 Mill Shoals, IL
Compared to national averages, Mill Shoals has a median household income of $58,542 (22% below the national median of $75,149). Home values average $60,000, which is 76% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Illinois, Mill Shoals's income is 22% below the state average of $75,072, and home values are 64% below the state median of $165,779.
Why Live in Mill Shoals, IL?
Mill Shoals offers affordable housing with a median home value of $60,000, below the US average of $244,900, and rent that’s lower than the national average at $0/month, and a strong job market with an unemployment rate of just 0.0%. Additionally, the city features a low poverty rate of 9.4%, better than the national average.
Potential considerations include median household income ($58,542) that falls below the national average. However, Mill Shoals’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Mill Shoals has a population of 138 with a median age of 39.4 years. Compare Mill Shoals with other cities to see how it stacks up, or explore all cities in Illinois.
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Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Mill Shoals
What is the population of Mill Shoals, IL?
The population of Mill Shoals, IL is 138 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 Mill Shoals?
The median household income in Mill Shoals, IL is $58,542 per year, which is 22% below the national median of $75,149.
What is the median home value in Mill Shoals?
The median home value in Mill Shoals, IL is $60,000, which is 76% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Mill Shoals?
The median monthly rent in Mill Shoals, IL is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Mill Shoals?
The unemployment rate in Mill Shoals, IL is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Mill Shoals, IL a good place to live?
Mill Shoals offers a moderate cost of living, affordable housing, and a strong job market. With a population of 138 and a median age of 39.4, the city appeals to a broad range of residents.
How educated is Mill Shoals, IL?
9.0% of residents in Mill Shoals 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 Mill Shoals?
Key cost-of-living indicators for Mill Shoals, IL: median home value is $60,000 (76% below national), median rent is $0/month, and median household income is $58,542. The home-value-to-income ratio is 1.0x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Mill Shoals?
The poverty rate in Mill Shoals, IL is 9.4%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Mill Shoals, IL?
Mill Shoals's population is 0.7% 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.