Sherman, IL
Population 4,211 · Illinois
About Sherman, IL
Sherman is a small town located in Illinois with a population of 4,211 residents according to the latest US Census Bureau American Community Survey data. The median household income is $147,025 per year, which is 96% above the national median of $75,149. The median age of 44.4 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 Sherman features a median home value of $291,300, which is 19% above the national median of $244,900. This positions Sherman in a moderately priced market relative to the rest of the country. Median monthly rent is $1,565, 35% above the national average of $1,163/month. Of the 1,546 total housing units, 90% are owner-occupied (1,355 units) and 10% are renter-occupied (152 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Sherman shows an unemployment rate of 2.9%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 0.4%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Sherman have an average one-way commute time of 20.4 minutes.
Education & Demographics
47.7% of Sherman 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, 0.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.5% of the population being foreign-born.
Cost of Living in Sherman, IL
Compared to national averages, Sherman has a median household income of $147,025 (96% above the national median of $75,149). Home values average $291,300, which is 19% above the national median. Monthly rent at $1,565 is 35% above the US average of $1,163. Within Illinois, Sherman's income is 96% above the state average of $75,072, and home values are 76% above the state median of $165,779.
Why Live in Sherman, IL?
Sherman offers a strong local economy with a median household income of $147,025, well above the national average, and a strong job market with an unemployment rate of just 2.9%, and a well-educated community where 47.7% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 0.4%, better than the national average, and short commute times averaging just 20.4 minutes.
Sherman has a population of 4,211 with a median age of 44.4 years. Compare Sherman with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Sherman
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Poplar Grove | 4,202 | $93,409 | $253,500 | Compare |
| Paxton | 4,201 | $60,470 | $116,700 | Compare |
| Anna | 4,222 | $36,238 | $128,200 | Compare |
| Scott AFB | 4,195 | $91,115 | $0 | Compare |
| Kildeer | 4,189 | $250,001 | $697,900 | Compare |
| Lawrenceville | 4,241 | $44,885 | $77,600 | Compare |
| Hometown | 4,244 | $59,265 | $152,000 | Compare |
| West Peoria | 4,246 | $57,450 | $92,500 | 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 Sherman With Other Cities
Frequently Asked Questions about Sherman
What is the population of Sherman, IL?
The population of Sherman, IL is 4,211 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 Sherman?
The median household income in Sherman, IL is $147,025 per year, which is 96% above the national median of $75,149.
What is the median home value in Sherman?
The median home value in Sherman, IL is $291,300, which is 19% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Sherman?
The median monthly rent in Sherman, IL is $1,565, which is 35% above the national average of $1,163/month.
What is the unemployment rate in Sherman?
The unemployment rate in Sherman, IL is 2.9%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Sherman, IL a good place to live?
Sherman offers above-average incomes, a competitive housing market, and a strong job market. With a population of 4,211 and a median age of 44.4, the city appeals to a broad range of residents.
How educated is Sherman, IL?
47.7% of residents in Sherman 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 Sherman?
Key cost-of-living indicators for Sherman, IL: median home value is $291,300 (19% above national), median rent is $1,565/month, and median household income is $147,025. The home-value-to-income ratio is 2.0x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Sherman?
The poverty rate in Sherman, IL is 0.4%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Sherman, IL?
Sherman's population is 0.7% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 6.8% two or more races. 0.5% of residents are foreign-born.