Lacon, IL Profile: Facts & Data

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Lacon, Illinois - Basic Facts

The City of Lacon had a population of 1,870 as of July 1, 2020.

The primary coordinate point for Lacon is located at latitude 41.0248 and longitude -89.4112 in Marshall County. The formal boundaries for the City of Lacon encompass a land area of 1.6 sq. miles and a water area of 0.04 sq. miles. Marshall County is in the Central time zone (GMT -6). The elevation is 476 feet.

The City of Lacon (GNIS ID: 2395578) has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The City of Lacon is located within Township of Lacon, a minor civil division (MCD) of Marshall County.


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Lacon, IL Data & Demographics (As of July 1, 2020)

POPULATION

Total Population 1,870 (100%)
Population in Households 1,779 (95.1%)
Population in Families 1,425 (76.2%)
Population in Group Quarters1 91 ( 4.9%)
Population Density 1,169
Diversity Index2 9
 
 

INCOME

Median Household Income $57,950
Average Household Income $74,332
% of Income for Mortgage4 8%
Per Capita Income $31,281
Wealth Index5 83
 

HOUSING

Total HU (Housing Units) 873 (100%)
Owner Occupied HU 646 (74.0%)
Renter Occupied HU 159 (18.2%)
Vacant Housing Units 68 ( 7.8%)
Median Home Value $109,698
Average Home Value $150,310
Housing Affordability Index3 251
 

HOUSEHOLDS

Total Households 805
Average Household Size 2.21
Family Households 532
Average Family Size 3
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

GROWTH RATE / YEAR

2010-2020 2020-2025
Population -0.34% -0.56%
Households -0.13% -0.48%
Families 0.28% -0.57%
Median Household Income   0.37%
Per Capita Income   1.18%
Owner Occupied HU   -0.44%

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Lacon, IL - Peer Comparisons by Rank and Percentile

The table below compares Lacon to the other 1,369 incorporated cities, towns and CDPs in Illinois by rank and percentile using July 1, 2020 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 525 62nd
Population Density # 635 54th
Median Household Income # 660 52nd
Housing Affordability Index # 807 59th
Per Capita Income # 540 61st
Diversity Index # 1011 26th

Additional comparisons and rankings can be made with a VERY EASY TO USE Illinois Census Data Comparison Tool.

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