Payson, IL
Population 1,030 · Illinois
About Payson, IL
Payson is a small community in Illinois with a population of 1,030 residents. The median household income is $62,262 per year, which is near the national average. The median age in Payson is 34.9 years.
Housing in Payson has a median home value of $118,000 and median monthly rent of $967. Of the 409 total housing units, the majority are owner-occupied, with 313 owner-occupied and 59 renter-occupied units.
The unemployment rate in Payson is 1.3% and the poverty rate is 10.2%. 19.1% of residents hold a bachelor's degree or higher. The average commute time is 24.4 minutes.
Cost of Living in Payson, IL
Compared to national averages, Payson has a median household income of $62,262 (17% below the national median of $75,149). Home values average $118,000, which is 52% below the national median. Monthly rent at $967 is 17% below the US average of $1,163. Within Illinois, Payson's income is 17% below the state average of $75,072, and home values are 29% below the state median of $165,779.
Why Live in Payson, IL?
Payson offers affordable housing with a median home value of $118,000, below the US average of $244,900, and rent that’s lower than the national average at $967/month, and a strong job market with an unemployment rate of just 1.3%. Additionally, the city features a low poverty rate of 10.2%, better than the national average, and short commute times averaging just 24.4 minutes.
Potential considerations include median household income ($62,262) that falls below the national average. However, Payson’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Payson has a population of 1,030 with a median age of 34.9 years. Compare Payson with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Payson
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Chebanse | 1,033 | $76,190 | $149,300 | Compare |
| Washburn | 1,026 | $79,306 | $90,700 | Compare |
| Macon | 1,035 | $74,063 | $109,500 | Compare |
| Beckemeyer | 1,024 | $64,231 | $112,500 | Compare |
| Forest View | 1,022 | $108,833 | $257,100 | Compare |
| Percy | 1,014 | $42,813 | $88,500 | Compare |
| Rapids City | 1,012 | $90,750 | $207,600 | Compare |
| Wayne City | 1,050 | $58,208 | $108,600 | 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 Payson
What is the population of Payson, IL?
The population of Payson, IL is 1,030 according to the latest Census data.
What is the median household income in Payson?
The median household income in Payson, IL is $62,262 per year.
What is the median home value in Payson?
The median home value in Payson, IL is $118,000.
What is the average rent in Payson?
The median monthly rent in Payson, IL is $967.
What is the unemployment rate in Payson?
The unemployment rate in Payson, IL is 1.3%.