In 1917, Rantoul was chosen to be the site of the Chanute Field due to its proximity to the Illinois Central railroad and the War Department’s ground school housed at the University of Illinois. In the 1930s, Chanute grew, dominating the local economy as thousands of Airmen were stationed there to train new recruits who cycled in and out. Renamed Chanute Air Force Base after World War II, the base was closed in 1993, and partly reoccupied by the Octave Chanute Aerospace Museum and the Rantoul National Aviation Center.
The major employers in Rantoul are C.I. Telecom, JELD-WEN, Bell Sports, Bell Racing, Combe Laboratories, Eagle Wings Ind., Conair Corporation, Microfilm Service, AT&T, and Pactuco.
As of the census of 2000, there were 12,918 people, 5,330 households, and 3,368 families residing in the village. The population density was 1,776.5 people per square mile (685.7/km²). There were 6,161 housing units at an average density of 851.3/sq mi (328.6/km²). The racial makeup of the village was 76.69% White, 16.88% African American, 0.47% Native American, 1.75% Asian, 0.05% Pacific Islander, 0.89% from other races, and 3.27% from two or more races. Hispanic or Latino of any race were 2.69% of the population.
There were 5,330 households out of which 33.7% had children under the age of 18 living with them, 43.9% were married couples living together, 15.0% had a female householder with no husband present, and 36.8% were non-families. 30.8% of all households were made up of individuals and 10.2% had someone living alone who was 65 years of age or older. The average household size was 2.41 and the average family size was 3.02.
In the village the population was spread out with 28.6% under the age of 18, 9.5% from 18 to 24, 32.2% from 25 to 44, 18.2% from 45 to 64, and 11.4% who were 65 years of age or older. The median age was 32 years. For every 100 females there were 91.0 males. For every 100 females age 18 and over, there were 86.7 males.
The median income for a household in the village was $36,904, and the median income for a family was $43,543. Males had a median income of $32,440 versus $22,382 for females. The per capita income for the village was $17,948. About 8.5% of families and 10.7% of the population were below the poverty line, including 14.7% of those under age 18 and 4.6% of those age 65 or over.