Towanda, IL
Population 356 · Illinois
About Towanda, IL
Towanda is a small community located in Illinois with a population of 356 residents according to the latest US Census Bureau American Community Survey data. The median household income is $78,611 per year, which is 5% above the national median of $75,149. The median age of 45.5 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 Towanda features a median home value of $158,200, which is 35% below the national median of $244,900. This positions Towanda in a moderately priced market relative to the rest of the country. Median monthly rent is $942, 19% below the national average of $1,163/month. Of the 178 total housing units, 88% are owner-occupied (149 units) and 12% are renter-occupied (21 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Towanda shows an unemployment rate of 1.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 11.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Towanda have an average one-way commute time of 22.4 minutes.
Education & Demographics
28.8% of Towanda residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
How Towanda Ranks in Illinois
Cost of Living in Towanda, IL
Compared to national averages, Towanda has a median household income of $78,611 (5% above the national median of $75,149). Home values average $158,200, which is 35% below the national median. Monthly rent at $942 is 19% below the US average of $1,163. Within Illinois, Towanda's income is 5% above the state average of $75,072, and home values are 5% below the state median of $165,779.
Why Live in Towanda, IL?
Towanda offers a strong local economy with a median household income of $78,611, well above the national average, and affordable housing with a median home value of $158,200, below the US average of $244,900, and rent that’s lower than the national average at $942/month. Additionally, the city features a strong job market with an unemployment rate of just 1.0%, and a low poverty rate of 11.8%, better than the national average, and short commute times averaging just 22.4 minutes.
Towanda has a population of 356 with a median age of 45.5 years. Compare Towanda with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Towanda
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Bondville | 356 | $57,188 | $168,500 | Compare |
| London Mills | 356 | $52,656 | $54,800 | Compare |
| Edgewood | 357 | $42,188 | $72,500 | Compare |
| Fairview | 357 | $65,250 | $79,800 | Compare |
| Little York | 357 | $54,250 | $80,700 | Compare |
| Creal Springs | 354 | $43,333 | $57,600 | Compare |
| Summerfield | 358 | $58,661 | $84,100 | Compare |
| Crab Orchard | 359 | $110,125 | $97,900 | 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 Towanda
What is the population of Towanda, IL?
The population of Towanda, IL is 356 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 Towanda?
The median household income in Towanda, IL is $78,611 per year, which is 5% above the national median of $75,149.
What is the median home value in Towanda?
The median home value in Towanda, IL is $158,200, which is 35% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Towanda?
The median monthly rent in Towanda, IL is $942, which is 19% below the national average of $1,163/month.
What is the unemployment rate in Towanda?
The unemployment rate in Towanda, IL is 1.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Towanda, IL a good place to live?
Towanda offers above-average incomes, affordable housing, and a strong job market. With a population of 356 and a median age of 45.5, the city appeals to established professionals and retirees.
How educated is Towanda, IL?
28.8% of residents in Towanda 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 Towanda?
Key cost-of-living indicators for Towanda, IL: median home value is $158,200 (35% below national), median rent is $942/month, and median household income is $78,611. The home-value-to-income ratio is 2.0x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Towanda?
The poverty rate in Towanda, IL is 11.8%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Towanda, IL?
Towanda's population is 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.