Riverwoods, IL
Population 3,988 · Illinois
About Riverwoods, IL
Riverwoods is a small town located in Illinois with a population of 3,988 residents according to the latest US Census Bureau American Community Survey data. The median household income is $243,036 per year, which is 223% above the national median of $75,149. The median age of 50.1 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Riverwoods features a median home value of $796,100, which is 225% above the national median of $244,900. This places Riverwoods in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $3,175, 173% above the national average of $1,163/month. Of the 1,418 total housing units, 96% are owner-occupied (1,215 units) and 4% are renter-occupied (50 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Riverwoods shows an unemployment rate of 0.9%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 0.9%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Riverwoods have an average one-way commute time of 35.8 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
76.4% of Riverwoods residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 0.7% White, 0.5% Hispanic or Latino, 3.9% Black or African American, and 0.7% Asian residents, with 10.1% of the population being foreign-born.
How Riverwoods Ranks in Illinois
Cost of Living in Riverwoods, IL
Compared to national averages, Riverwoods has a median household income of $243,036 (223% above the national median of $75,149). Home values average $796,100, which is 225% above the national median. Monthly rent at $3,175 is 173% above the US average of $1,163. Within Illinois, Riverwoods's income is 224% above the state average of $75,072, and home values are 380% above the state median of $165,779.
Why Live in Riverwoods, IL?
Riverwoods offers a strong local economy with a median household income of $243,036, well above the national average, and a strong job market with an unemployment rate of just 0.9%, and a well-educated community where 76.4% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 0.9%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $796,100. However, Riverwoods’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Riverwoods has a population of 3,988 with a median age of 50.1 years. Compare Riverwoods with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Riverwoods
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Marshall | 3,987 | $70,950 | $118,500 | Compare |
| Indian Head Park | 3,992 | $107,019 | $337,700 | Compare |
| Burnham | 3,978 | $55,708 | $146,400 | Compare |
| Millstadt | 4,013 | $94,536 | $205,400 | Compare |
| South Chicago Heights | 3,934 | $56,250 | $136,000 | Compare |
| Rosewood Heights | 4,047 | $80,753 | $125,900 | Compare |
| Barrington Hills | 3,923 | $186,667 | $781,600 | Compare |
| Dupo | 3,914 | $57,899 | $109,000 | 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.
Compare Riverwoods With Other Cities
Frequently Asked Questions about Riverwoods
What is the population of Riverwoods, IL?
The population of Riverwoods, IL is 3,988 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Illinois.
What is the median household income in Riverwoods?
The median household income in Riverwoods, IL is $243,036 per year, which is 223% above the national median of $75,149.
What is the median home value in Riverwoods?
The median home value in Riverwoods, IL is $796,100, which is 225% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Riverwoods?
The median monthly rent in Riverwoods, IL is $3,175, which is 173% above the national average of $1,163/month.
What is the unemployment rate in Riverwoods?
The unemployment rate in Riverwoods, IL is 0.9%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Riverwoods, IL a good place to live?
Riverwoods offers above-average incomes, a competitive housing market, and a strong job market. With a population of 3,988 and a median age of 50.1, the city appeals to established professionals and retirees.
How educated is Riverwoods, IL?
76.4% of residents in Riverwoods aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Riverwoods?
Key cost-of-living indicators for Riverwoods, IL: median home value is $796,100 (225% above national), median rent is $3,175/month, and median household income is $243,036. The home-value-to-income ratio is 3.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Riverwoods?
The poverty rate in Riverwoods, IL is 0.9%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Riverwoods, IL?
Riverwoods's population is 0.7% White, 0.5% Hispanic or Latino, 3.9% Black or African American, 0.7% Asian, and 2.6% two or more races. 10.1% of residents are foreign-born.