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The total population of Cherry Valley is estimated to be 2,951 with 1,601 males (54.25%) and 1,350 females (45.75%). There are 251 less females than males in Cherry Valley.
The median household income in Cherry Valley was $74,970 in 2021, which marked an a decrease of 2,533(3.27%) from $77,503 in 2020. This income is 100.49% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Cherry Valley sees its highest median household income among householders in the age group of 45 to 64 years old, at $119,742. Overall, the median household income for the village of Cherry Valley stands at $74,970.
In Cherry Valley, the median income for all workers aged 15 years and older, regardless of work hours, was $52,115 for males and $39,352 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $61,936 for males and $46,867 for females.
In Cherry Valley, there are just two different racial groups among households. Among these, White households report a median household income of $74,750, while Black or African American households have a median household income of $22,969.
In 2022, the population of Cherry Valley was 2,870, a 0.42% decrease year-by-year from 2021. Previously, in 2021, Cherry Valley's population was 2,882, a decline of 0.45% compared to a population of 2,895 in 2020.
The median age in Cherry Valley, IL is 50.4, as per 2021 ACS 5-Year Estimates. Of the total population, 11.63% were under the age of 15, 19.70% aged 15 to 29, 44.75% aged 30 to 64, 19.11% aged 65 to 84, and 4.81% were 85 years of age and older.
Racial distribution of Cherry Valley population: 82.02% are White, 3.63% are Black or African American, 5.94% are Asian, 4.37% are some other race and 4.04% are multiracial.