Loraine, IL
Full City Profile · Illinois · Hancock County County
Loraine, IL
At a Glance
How Loraine Compares to the U.S. Average
Each bar shows Loraine's value as a percentage of the national average (100% = U.S. avg)
Is Loraine a Good Place to Live?
Economy & Jobs
Loraine residents earn a median household income of $56,855 , which is 24% below the national average of $75,149. Per capita income is $28,798. The unemployment rate stands at 5.7% (58% above the U.S. rate of 3.6%). 4.7% of residents live below the poverty line. The area is home to 412 business establishments, including 37 restaurants.
Housing & Cost of Living
The median home value in Loraine is $88,100 , 69% below the national median of $281,900. Zillow estimates the typical home at $199,601. Median rent is $629/month, with 22.7% of renters spending more than 30% of income on housing. The cost of living index is 100.0 (100 = national average). The median home was built in 1950.
Education
6.9% of adults in Loraine hold a bachelor's degree or higher (80% below the national average). 88.9% have completed high school. Local schools score 5.3/10 in standardized testing.
Climate & Weather
Loraine has an average annual temperature of 53°F (12°C). Winters average 27°F in January while summers reach 76°F in July. Annual precipitation totals 36.4 inches.