Savoy, IL
Population 8,807 · Illinois
About Savoy, IL
Savoy is a small community in Illinois with a population of 8,807 residents. The median household income is $88,828 per year, which is above the national average. The median age in Savoy is 38.3 years.
Housing in Savoy has a median home value of $280,700 and median monthly rent of $954. Of the 3,837 total housing units, the majority are owner-occupied, with 2,055 owner-occupied and 1,441 renter-occupied units.
The unemployment rate in Savoy is 1.2% and the poverty rate is 9.0%. 58.8% of residents hold a bachelor's degree or higher. The average commute time is 17 minutes.
Cost of Living in Savoy, IL
Compared to national averages, Savoy has a median household income of $88,828 (18% above the national median of $75,149). Home values average $280,700, which is 15% above the national median. Monthly rent at $954 is 18% below the US average of $1,163. Within Illinois, Savoy's income is 18% above the state average of $75,072, and home values are 69% above the state median of $165,779.
Why Live in Savoy, IL?
Savoy offers a strong local economy with a median household income of $88,828, well above the national average, and rent that’s lower than the national average at $954/month, and a strong job market with an unemployment rate of just 1.2%. Additionally, the city features a well-educated community where 58.8% of residents hold a bachelor’s degree or higher, and a low poverty rate of 9.0%, better than the national average, and short commute times averaging just 17 minutes.
Savoy has a population of 8,807 with a median age of 38.3 years. Compare Savoy with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Savoy
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Monmouth | 8,794 | $59,690 | $88,100 | Compare |
| Harwood Heights | 8,851 | $79,651 | $316,400 | Compare |
| Olney | 8,864 | $57,997 | $96,900 | Compare |
| Mascoutah | 8,743 | $93,902 | $226,300 | Compare |
| Glencoe | 8,715 | $250,001 | $1,354,900 | Compare |
| Lake Villa | 8,707 | $111,110 | $325,900 | Compare |
| Rock Falls | 8,683 | $48,733 | $82,400 | Compare |
| Manteno | 8,942 | $96,057 | $241,700 | 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 Savoy
What is the population of Savoy, IL?
The population of Savoy, IL is 8,807 according to the latest Census data.
What is the median household income in Savoy?
The median household income in Savoy, IL is $88,828 per year.
What is the median home value in Savoy?
The median home value in Savoy, IL is $280,700.
What is the average rent in Savoy?
The median monthly rent in Savoy, IL is $954.
What is the unemployment rate in Savoy?
The unemployment rate in Savoy, IL is 1.2%.