Toledo, IL
Population 1,209 · Illinois
About Toledo, IL
Toledo is a small town located in Illinois with a population of 1,209 residents according to the latest US Census Bureau American Community Survey data. The median household income is $59,881 per year, which is 20% below the national median of $75,149. The median age of 42.1 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 Toledo features a median home value of $92,200, which is 62% below the national median of $244,900. This makes Toledo one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $650, 44% below the national average of $1,163/month. Of the 579 total housing units, 69% are owner-occupied (348 units) and 31% are renter-occupied (154 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Toledo shows an unemployment rate of 1.6%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 14.1%, above the national average of 12.4%. Workers in Toledo have an average one-way commute time of 22.6 minutes.
Education & Demographics
18.7% of Toledo 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 1.8% White, 0.4% Hispanic or Latino, 0.1% Black or African American, and 0.8% Asian residents, with 0.8% of the population being foreign-born.
Cost of Living in Toledo, IL
Compared to national averages, Toledo has a median household income of $59,881 (20% below the national median of $75,149). Home values average $92,200, which is 62% below the national median. Monthly rent at $650 is 44% below the US average of $1,163. Within Illinois, Toledo's income is 20% below the state average of $75,072, and home values are 44% below the state median of $165,779.
Why Live in Toledo, IL?
Toledo offers affordable housing with a median home value of $92,200, below the US average of $244,900, and rent that’s lower than the national average at $650/month, and a strong job market with an unemployment rate of just 1.6%. Additionally, the city features short commute times averaging just 22.6 minutes.
Potential considerations include median household income ($59,881) that falls below the national average. However, Toledo’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Toledo has a population of 1,209 with a median age of 42.1 years. Compare Toledo with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Toledo
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Big Rock | 1,208 | $126,667 | $290,100 | Compare |
| Martinsville | 1,212 | $65,000 | $73,600 | Compare |
| North Utica | 1,215 | $99,722 | $212,000 | Compare |
| Third Lake | 1,203 | $150,893 | $329,500 | Compare |
| Milledgeville | 1,199 | $59,688 | $89,200 | Compare |
| Camp Point | 1,197 | $58,438 | $111,700 | Compare |
| New Milford | 1,183 | $73,125 | $130,200 | Compare |
| Oreana | 1,183 | $93,194 | $129,100 | 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 Toledo With Other Cities
Frequently Asked Questions about Toledo
What is the population of Toledo, IL?
The population of Toledo, IL is 1,209 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 Toledo?
The median household income in Toledo, IL is $59,881 per year, which is 20% below the national median of $75,149.
What is the median home value in Toledo?
The median home value in Toledo, IL is $92,200, which is 62% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Toledo?
The median monthly rent in Toledo, IL is $650, which is 44% below the national average of $1,163/month.
What is the unemployment rate in Toledo?
The unemployment rate in Toledo, IL is 1.6%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Toledo, IL a good place to live?
Toledo offers a moderate cost of living, affordable housing, and a strong job market. With a population of 1,209 and a median age of 42.1, the city appeals to a broad range of residents.
How educated is Toledo, IL?
18.7% of residents in Toledo 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 Toledo?
Key cost-of-living indicators for Toledo, IL: median home value is $92,200 (62% below national), median rent is $650/month, and median household income is $59,881. The home-value-to-income ratio is 1.5x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Toledo?
The poverty rate in Toledo, IL is 14.1%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Toledo, IL?
Toledo's population is 1.8% White, 0.4% Hispanic or Latino, 0.1% Black or African American, 0.8% Asian, and 1.1% two or more races. 0.8% of residents are foreign-born.