Median Income
$54,241
household / year
Median Home Value
$80,700
owner-occupied
Median Rent
$640
gross / month
Cost of Living
89
national avg = 100

Is Loraine, IL a Good Place to Live?

Loraine is a small town of 350 in Illinois, with a median household income of $54,241 and a 6.8% unemployment rate. Its cost of living index is 89 (US average = 100), which is 11% below the national average.

Strengths: Loraine stands out for an affordable cost of living, below-average home prices.

Trade-offs: Potential downsides include an elevated unemployment rate. Whether Loraine is right for you depends on your priorities — the full breakdown is below.

All Loraine city data on this page comes from official government sources — the US Census Bureau, FBI, NCES, BEA, and NOAA — updated annually.

Cost of Living

Index: 88.6

Loraine's overall cost of living index is 88.6, where 100 represents the US national average. Living in Loraine costs roughly 11% less than the average American city.

Metric Loraine, IL National Avg
Median Home Value $80,700 $244,900
Median Monthly Rent $640 $1,163
Homeownership Rate 86.2% 65.9%
Median Household Income $54,241 $74,755

Crime & Safety

Crime data for Loraine is not currently available from the FBI's Uniform Crime Reporting program. Not all local agencies report to the UCR each year.

Schools & Education

Metric Loraine, IL National Avg
School District N/A —
Elementary Schools N/A —
Middle Schools N/A —
High Schools N/A —
Student/Teacher Ratio N/A 16:1
Bachelor's Degree or Higher 8.2% 35.4%
High School Diploma or Higher 86.7% 91.1%

Weather & Climate

Loraine sees average highs of 33.8°F in January and 86.5°F in July, with 40.9 inches of annual precipitation and 23.1 inches of snow per year.

MetricLoraine, IL
Average High — January33.8°F
Average High — July86.5°F
Annual Precipitation40.9"
Annual Snowfall23.1"

Demographics

MetricLoraine, ILNational Avg
Population350—
Median Age57.138.9
Unemployment Rate6.8%3.7%
Avg Commute Time27.9 min26 min
White (non-Hispanic)95.4%59.3%
Black or African American2.9%13.6%
Hispanic or Latino0.9%18.9%
Asian0.0%6.3%
Under 1814.3%22.2%
65 and over33.7%16.8%

Nearby Cities

Mendon, IL 6 mi West Point, IL 7 mi Marcelline, IL 8 mi Lima, IL 8 mi Coatsburg, IL 9 mi

ZIP Codes in Loraine

Loraine, IL is covered by 1 ZIP code:

62349

Loraine vs Other Cities

Loraine, IL vs Mendon, IL Loraine, IL vs West Point, IL Loraine, IL vs Marcelline, IL Loraine, IL vs Lima, IL Loraine, IL vs Coatsburg, IL

Frequently Asked Questions

Loraine's cost of living index is 89, where 100 is the national average. That makes Loraine roughly 11% less expensive than a typical US city — a meaningful affordability advantage. The median home price is $80,700 and median rent is $640/month.
Crime data for Loraine is not available in the current FBI UCR reporting year. Not all jurisdictions submit data annually.
School district information is sourced from NCES Common Core of Data.
Loraine, IL has a population of 350, a median household income of $54,241, and an unemployment rate of 6.8%. It offers below-average costs of living, which stretches take-home pay further than in most American cities. Whether it's right for you depends on your priorities — use the compare tool above to stack it against another city you're considering.
Loraine averages 33.8°F in January and 86.5°F in July. Annual rainfall is 40.9 inches with about 23.1 inches of snow per year. Based on NOAA 30-year climate normals (1991–2020).
Loraine, IL is covered by 1 ZIP code: 62349.
The population of Loraine, Illinois is 350 with a median age of 57.1. Source: US Census ACS 5-Year Estimates.
Key numbers for living in Loraine: cost of living index 89 (100 = US average), median home $80,700, median household income $54,241. Whether these are benefits or drawbacks depends on where you're coming from — compare Loraine side by side with your current city to see the trade-offs.