Paloma, IL
Population 104 · Illinois
About Paloma, IL
Paloma is a small community located in Illinois with a population of 104 residents according to the latest US Census Bureau American Community Survey data. The median household income is $0 per year, which is 100% below the national median of $75,149. The median age of 20.6 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 Paloma features a median home value of $0, which is 100% below the national median of $244,900. This makes Paloma 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 24 total housing units, 100% are owner-occupied (24 units) and 0% are renter-occupied (0 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Paloma 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 0.0%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Paloma have an average one-way commute time of 0 minutes, one of the shorter commutes in the region.
Education & Demographics
0.0% of Paloma 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 Paloma, IL
Compared to national averages, Paloma has a median household income of $0 (100% below the national median of $75,149). Home values average $0, which is 100% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Illinois, Paloma's income is 100% below the state average of $75,072, and home values are 100% below the state median of $165,779.
Why Live in Paloma, IL?
Paloma offers affordable housing with a median home value of $0, 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 0.0%, better than the national average, and short commute times averaging just 0 minutes.
Potential considerations include median household income ($0) that falls below the national average. However, Paloma’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Paloma has a population of 104 with a median age of 20.6 years. Compare Paloma with other cities to see how it stacks up, or explore all cities in Illinois.
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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 Paloma
What is the population of Paloma, IL?
The population of Paloma, IL is 104 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 Paloma?
The median household income in Paloma, IL is $0 per year, which is 100% below the national median of $75,149.
What is the median home value in Paloma?
The median home value in Paloma, IL is $0, which is 100% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Paloma?
The median monthly rent in Paloma, IL is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Paloma?
The unemployment rate in Paloma, 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 Paloma, IL a good place to live?
Paloma offers a moderate cost of living, affordable housing, and a strong job market. With a population of 104 and a median age of 20.6, the city appeals to young professionals and families.
How educated is Paloma, IL?
0.0% of residents in Paloma 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 Paloma?
Key cost-of-living indicators for Paloma, IL: median home value is $0 (100% below national), median rent is $0/month, and median household income is $0. The home-value-to-income ratio is NaNx, a moderate figure by national standards.
What is the poverty rate in Paloma?
The poverty rate in Paloma, IL is 0.0%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Paloma, IL?
Paloma'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.