Alexander County, IL: personal loan guide and local data

Who lives in Alexander County

Roughly 4,875 residents live in Alexander County, Illinois, 98th by population among the state's 102 counties and county equivalents. Land area is 235 square miles (2024 Gazetteer), so density runs near 21 per square mile. For statistical purposes it belongs to the Cape Girardeau, MO-IL metro area, as delineated by the Office of Management and Budget in July 2023. Of the 7 Census places inside Alexander County, Cairo leads by population with about 1,682; 5 of the 7 are incorporated. With so few households sampled, Alexander County estimates can move a lot between releases.

Rent, home values and ownership in Alexander County

Renters in Alexander County pay a median of $656 a month, 49% below the Illinois figure of $1,274. Rent takes 30% or more of income for 20% of renter households here. With a median value of $59,800, a typical Alexander County house costs 1.3 times what the median household earns in a year. 78% of Alexander County households own their home and 22% rent. The median home was built in 1969, so roofs, wiring and heating systems are a common source of repair bills.

In an owner-heavy county like Alexander County, many borrowers can also choose a home equity loan or line of credit. Those can price lower but put the house on the line, so compare the two in writing; our personal loan vs. HELOC guide walks through it.

Household income in Alexander County

At $47,043, the typical Alexander County household income is 28% below the median U.S. county ($65,681). That places it 101st among Illinois's 102 county-level areas.

Some 35% of households here live on less than $35,000 a year; 22% have six-figure incomes. 19.0% of residents fall below the federal poverty line (statewide: 11.8%). The Gini index of income inequality is 0.480 (0 is perfect equality). None of these numbers decides a Alexander County application. Lenders weigh your own documented income against your own debts.

Work, industries and travel time in Alexander County

Education and health care employs 26% of working residents, the largest share; retail trade is next with 14%. Compared with Illinois, the county leans toward public administration (8% against 4%). ACS puts five-year average unemployment at 6.5% in Alexander County. Long commutes are common here: 18% of workers spend 45 minutes or longer getting to work. Only 10.1% of homes here go without a vehicle.

Where long drives are the norm, a car repair is one of the most common surprise bills. A small repair fund can keep a breakdown from turning into a loan.

Cities, towns and CDPs in Alexander County

7 Census places fall mainly inside Alexander County; the 7 biggest are below. They account for 3,722 residents, leaving about 24% of the county in unincorporated, unnamed areas. No Alexander County place has a separate guide yet; this county page serves all 7.

CDPs are unincorporated communities the Census Bureau defines for counting.

Neighboring counties at a glance

Nearest neighbors first, measured between county centers (12 to 25 miles). 5 of the six report a higher median household income than Alexander County; Cape Girardeau County is highest at $68,464 and Pulaski County lowest at $42,463. The list crosses into Kentucky, Missouri, where different lending rules and regulators apply.

Budget math at the Alexander County median

How much room does a median Alexander County budget have? Take median income, subtract median rent, and check what is left under a few common debt-to-income limits.

• Start: $3,920 gross per month ($47,043 / 12)
• 17% goes to median rent ($656)
• With a 40% ceiling, about $912 remains for car, card, student and any new loan payments

Subtract what you already pay on other debts. A new payment should fit in what remains, with some to spare.

Who lives in Alexander County, in numbers

College graduates make up 13% of the adult population. The uninsured rate is 9.5%, against 6.9% for Illinois.

Borrowing situations common in Alexander County

Based on the Alexander County data above, these borrowing questions are most likely to matter locally.

• Commuter costs. 18% drive 45 minutes or more. Compare shop financing with a loan, and keep a small repair fund.
• Manufactured homes. 14% of Alexander County housing units are mobile homes, and their repairs are often paid with unsecured loans. Get the quote in writing.
• Retirees. At a median age of 48.0, many borrowers here rely on award letters as proof of income; favor no prepayment penalty.
• 19% below poverty. Emergency aid, payment plans and counseling (list) come first.

Before you sign

Steps that save money for Alexander County residents:

• Know the exact dollar figure you need before talking to a lender.
• Shop at least three lenders, including one Alexander County-area credit union.
• Look the lender up with the state regulator first.
• Lock paid-off cards after consolidating so balances stay at zero.

Illinois rules that apply in Alexander County

The Illinois Department of Financial and Professional Regulation is the place to verify any lender's Illinois license. Problems with a lender can also go to the CFPB. More on Illinois: Illinois personal loans.

Related local guides

The Illinois guide covers the whole state.

• Illinois state guide