Oakwood, IL
Population 1,243 · Illinois
About Oakwood, IL
Oakwood is a small community in Illinois with a population of 1,243 residents. The median household income is $43,894 per year, which is below the national average. The median age in Oakwood is 40.8 years.
Housing in Oakwood has a median home value of $98,300 and median monthly rent of $795. Of the 638 total housing units, the majority are owner-occupied, with 432 owner-occupied and 137 renter-occupied units.
The unemployment rate in Oakwood is 1.3% and the poverty rate is 26.6%. 7.8% of residents hold a bachelor's degree or higher. The average commute time is 24.9 minutes.
Cost of Living in Oakwood, IL
Compared to national averages, Oakwood has a median household income of $43,894 (42% below the national median of $75,149). Home values average $98,300, which is 60% below the national median. Monthly rent at $795 is 32% below the US average of $1,163. Within Illinois, Oakwood's income is 42% below the state average of $75,072, and home values are 41% below the state median of $165,779.
Why Live in Oakwood, IL?
Oakwood offers affordable housing with a median home value of $98,300, below the US average of $244,900, and rent that’s lower than the national average at $795/month, and a strong job market with an unemployment rate of just 1.3%. Additionally, the city features short commute times averaging just 24.9 minutes.
Potential considerations include median household income ($43,894) that falls below the national average. However, Oakwood’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Oakwood has a population of 1,243 with a median age of 40.8 years. Compare Oakwood with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Oakwood
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Kincaid | 1,243 | $68,875 | $81,000 | Compare |
| Rossville | 1,246 | $62,708 | $97,800 | Compare |
| Neoga | 1,248 | $70,804 | $104,600 | Compare |
| Bethany | 1,253 | $50,139 | $101,700 | Compare |
| Stillman Valley | 1,261 | $87,311 | $168,000 | Compare |
| Divernon | 1,262 | $72,936 | $123,900 | Compare |
| Germantown | 1,268 | $83,661 | $185,300 | Compare |
| Cambria | 1,271 | $51,042 | $140,100 | 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.
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Frequently Asked Questions about Oakwood
What is the population of Oakwood, IL?
The population of Oakwood, IL is 1,243 according to the latest Census data.
What is the median household income in Oakwood?
The median household income in Oakwood, IL is $43,894 per year.
What is the median home value in Oakwood?
The median home value in Oakwood, IL is $98,300.
What is the average rent in Oakwood?
The median monthly rent in Oakwood, IL is $795.
What is the unemployment rate in Oakwood?
The unemployment rate in Oakwood, IL is 1.3%.