Rankin, IL
Population 560 · Illinois
About Rankin, IL
Rankin is a small community in Illinois with a population of 560 residents. The median household income is $47,125 per year, which is below the national average. The median age in Rankin is 32.7 years.
Housing in Rankin has a median home value of $57,700 and median monthly rent of $718. Of the 265 total housing units, the majority are owner-occupied, with 138 owner-occupied and 65 renter-occupied units.
The unemployment rate in Rankin is 23.3% and the poverty rate is 39.0%. 10.3% of residents hold a bachelor's degree or higher. The average commute time is 29.3 minutes.
Cost of Living in Rankin, IL
Compared to national averages, Rankin has a median household income of $47,125 (37% below the national median of $75,149). Home values average $57,700, which is 76% below the national median. Monthly rent at $718 is 38% below the US average of $1,163. Within Illinois, Rankin's income is 37% below the state average of $75,072, and home values are 65% below the state median of $165,779.
Why Live in Rankin, IL?
Rankin offers affordable housing with a median home value of $57,700, below the US average of $244,900, and rent that’s lower than the national average at $718/month.
Potential considerations include median household income ($47,125) that falls below the national average. However, Rankin’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Rankin has a population of 560 with a median age of 32.7 years. Compare Rankin with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Rankin
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Carlock | 560 | $78,125 | $132,500 | Compare |
| Garden Prairie | 560 | $42,188 | $108,000 | Compare |
| Argyle | 561 | $160,893 | $281,000 | Compare |
| Greenwood | 559 | $138,750 | $407,300 | Compare |
| South Wilmington | 558 | $86,563 | $164,900 | Compare |
| Tamaroa | 562 | $48,194 | $76,600 | Compare |
| Ava | 557 | $57,250 | $86,700 | Compare |
| Dix | 557 | $28,750 | $93,000 | 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 Rankin
What is the population of Rankin, IL?
The population of Rankin, IL is 560 according to the latest Census data.
What is the median household income in Rankin?
The median household income in Rankin, IL is $47,125 per year.
What is the median home value in Rankin?
The median home value in Rankin, IL is $57,700.
What is the average rent in Rankin?
The median monthly rent in Rankin, IL is $718.
What is the unemployment rate in Rankin?
The unemployment rate in Rankin, IL is 23.3%.