Stanford, IL
Population 469 · Illinois
About Stanford, IL
Stanford is a small community located in Illinois with a population of 469 residents according to the latest US Census Bureau American Community Survey data. The median household income is $83,173 per year, which is 11% above the national median of $75,149. The median age of 32.3 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Stanford features a median home value of $101,800, which is 58% below the national median of $244,900. This makes Stanford one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $1,375, 18% above the national average of $1,163/month. Of the 251 total housing units, 91% are owner-occupied (173 units) and 9% are renter-occupied (18 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Stanford shows an unemployment rate of 7.6%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 9.4%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Stanford have an average one-way commute time of 20.4 minutes.
Education & Demographics
11.0% of Stanford residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.0% White, 0.2% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.6% of the population being foreign-born.
Cost of Living in Stanford, IL
Compared to national averages, Stanford has a median household income of $83,173 (11% above the national median of $75,149). Home values average $101,800, which is 58% below the national median. Monthly rent at $1,375 is 18% above the US average of $1,163. Within Illinois, Stanford's income is 11% above the state average of $75,072, and home values are 39% below the state median of $165,779.
Why Live in Stanford, IL?
Stanford offers a strong local economy with a median household income of $83,173, well above the national average, and affordable housing with a median home value of $101,800, below the US average of $244,900, and a low poverty rate of 9.4%, better than the national average. Additionally, the city features short commute times averaging just 20.4 minutes.
Stanford has a population of 469 with a median age of 32.3 years. Compare Stanford with other cities to see how it stacks up, or explore all cities in Illinois.
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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 Stanford
What is the population of Stanford, IL?
The population of Stanford, IL is 469 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Illinois.
What is the median household income in Stanford?
The median household income in Stanford, IL is $83,173 per year, which is 11% above the national median of $75,149.
What is the median home value in Stanford?
The median home value in Stanford, IL is $101,800, which is 58% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Stanford?
The median monthly rent in Stanford, IL is $1,375, which is 18% above the national average of $1,163/month.
What is the unemployment rate in Stanford?
The unemployment rate in Stanford, IL is 7.6%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Stanford, IL a good place to live?
Stanford offers above-average incomes, affordable housing, and growing employment opportunities. With a population of 469 and a median age of 32.3, the city appeals to young professionals and families.
How educated is Stanford, IL?
11.0% of residents in Stanford aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Stanford?
Key cost-of-living indicators for Stanford, IL: median home value is $101,800 (58% below national), median rent is $1,375/month, and median household income is $83,173. The home-value-to-income ratio is 1.2x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Stanford?
The poverty rate in Stanford, IL is 9.4%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Stanford, IL?
Stanford's population is 0.0% White, 0.2% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.6% of residents are foreign-born.