What is the median household income in Fairmont, IL?
The median household income in Fairmont, IL is $70,795 (±$25,867) a year (2020–2024 American Community Survey).
Paying the median gross rent of $1,455 a month would take about $58,200 a year at the common guideline of spending no more than 30% of income on rent.
In Fairmont, the median household income went from $47,031 in 2015–2019 to $70,795 in 2020–2024 (+50.5%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
Figures last updated on .
- Median household income
- $70,795 (±$25,867)
- Median renter income
- $84,094 (±$22,901)
- Income to afford median rent
- about $58,200
Income in Fairmont against Will County, its state and the nation
| Fairmont | Will County | Illinois | United States | |
|---|---|---|---|---|
| Median household income | $70,795 (±$25,867) | $109,984 (±$1,819) | $83,390 (±$362) | $80,734 |
| Median renter household income | $84,094 (±$22,901) | $53,701 (±$2,319) | $50,420 (±$471) | $52,966 |
| Median owner household income | $63,333 (±$15,452) | $123,406 (±$1,822) | $103,505 (±$377) | $100,009 |
| Median gross rent | $1,455 (±$178) | $1,462 (±$33) | $1,274 (±$5) | $1,413 |
In Fairmont, median household income is lower than in Will County ($109,984).
It is not measurably different from Illinois ($83,390).
It is not measurably different from the national figure ($80,734).
In Will County, Fairmont ranks 50 of 57 places with a published estimate, from highest to lowest median household income.
Statewide, it ranks 1438 of 2,652.
Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.
How much you need to earn to rent in Fairmont
Many landlords and housing programs use 30% of gross income as the most a household should spend on rent.
At that guideline, the median gross rent of $1,455 a month ($17,460 a year) needs an income of about $58,200 a year.
The median renting household in Fairmont earns $84,094 a year.
This is arithmetic on the published medians, not a rule any landlord must follow; screening criteria vary and some places limit how income may be weighed.
Income against housing costs since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Median household income | $47,031 (±$10,122) | $70,795 (±$25,867) | +50.5% | No measurable change after inflation |
| Median gross rent | $1,127 (±$46) | $1,455 (±$178) | +29.1% | No measurable change after inflation |
| Median home value | $105,300 (±$28,939) | $182,300 (±$20,797) | +73.1% | Up after inflation |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Median household income in places near Fairmont
| Place | Distance | Median household income | Compared with this place |
|---|---|---|---|
| Fairmont | — | $70,795 (±$25,867) | — |
| Ridgewood | 2.0 mi | $92,500 (±$29,852) | Not measurably different |
| Lockport | 2.5 mi | $111,981 (±$8,876) | Higher |
| Crest Hill | 3.0 mi | $73,033 (±$2,592) | Not measurably different |
| Ingalls Park | 3.1 mi | $57,917 (±$8,081) | Not measurably different |
| Lockport Township | 3.1 mi | $85,328 (±$4,822) | Not measurably different |
| Joliet Township | 3.9 mi | $63,998 (±$2,980) | Not measurably different |
| Sunnyland | 4.5 mi | $90,813 (±$38,719) | Not measurably different |
| Preston Heights | 4.7 mi | $51,625 (±$7,275) | Not measurably different |
Nearby places with a measurably higher figure: Lockport, IL ($111,981).
Distance is measured in a straight line between the Census Bureau’s internal points for each place.
Median household income across Will County, place by place
| Rank | Place | Median household income |
|---|---|---|
| 44 | Crystal Lawns | $82,033 (±$30,987) |
| 45 | Peotone Township | $80,684 (±$18,461) |
| 46 | Crete Township | $80,482 (±$6,957) |
| 47 | Wesley Township | $78,031 (±$11,476) |
| 48 | University Park | $73,844 (±$12,510) |
| 49 | Crest Hill | $73,033 (±$2,592) |
| 50 | Fairmont | $70,795 (±$25,867) |
| 51 | Wilmington (Will County) | $66,154 (±$13,029) |
| 52 | Wilmington Township | $65,202 (±$12,595) |
| 53 | Joliet Township | $63,998 (±$2,980) |
| 54 | Rockdale | $59,135 (±$8,396) |
| 55 | Ingalls Park | $57,917 (±$8,081) |
| 56 | Godley | $53,438 (±$24,564) |
Showing 13 of 57 places in Will County, ranked from highest to lowest.
Fairmont is a census-designated place: an unincorporated community the Census Bureau draws for statistics, with no municipal government of its own.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
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Questions about Fairmont
What is the median household income in Fairmont?
The median household income in Fairmont is $70,795 (±$25,867) a year (2020–2024 American Community Survey).
How much do you need to make to afford rent in Fairmont?
About $58,200 a year, if rent is to stay at or below 30% of income at the median gross rent of $1,455 a month.
Have incomes in Fairmont kept up with inflation?
In Fairmont, the median household income went from $47,031 in 2015–2019 to $70,795 in 2020–2024 (+50.5%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
What do renters earn in Fairmont?
The median renting household in Fairmont, IL earns $84,094 (±$22,901) a year.
Sources
- Selected Economic Characteristics (DP03), 2020–2024 ACS 5-year estimates — Fairmont CDP, Illinois
- Median Household Income by Tenure (B25119), 2020–2024 ACS 5-year estimates — Fairmont CDP, Illinois
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Fairmont CDP, Illinois
- Median Household Income (B19013), 2015–2019 ACS 5-year estimates — Fairmont CDP, Illinois
- Median Gross Rent (B25064), 2015–2019 ACS 5-year estimates — Fairmont CDP, Illinois
- Median Value (B25077), 2015–2019 ACS 5-year estimates — Fairmont CDP, Illinois
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) and detailed tables (acs/acs5) for Fairmont CDP, Illinois (place:24920, in state:17).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B19013_001E, B19013_001M, B25064_001E, B25064_001M, B25077_001E, B25077_001M from the 2019 release.
The API needs a free key.
DP03_0062E, DP03_0062M, B25119_003E, B25119_003M, B25119_002E, B25119_002M, DP04_0134E, DP04_0134M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .
Related
- Housing in Fairmont at a glance
- Median rent in Fairmont
- Rent by bedrooms in Fairmont
- Renters and owners in Fairmont
- Home values in Fairmont
- Homeowner costs in Fairmont
- Property taxes in Fairmont
- Types of homes in Fairmont
- Bedrooms in Fairmont
- Age of homes in Fairmont
- Heating fuel in Fairmont
- Commute and cars in Fairmont
- Population growth in Fairmont
- How long people stay in Fairmont
- Illinois landlord and tenant rules
- Housing across Will County
- Illinois places ranked by median household income
- Housing data for every place in Illinois