In 2009, BusinessWeek rated Itasca as the 'Best Affordable Suburb' in the state of Illinois.
As of the census of 2000, there were 8,302 people, 3,179 households, and 2,257 families residing in the village. The population density was 1,688.8 people per square mile (651.5/km²). There were 3,258 housing units at an average density of 662.7/sq mi (255.7/km²). The racial makeup of the village was 88.04% White, 1.69% African American, 0.26% Native American, 5.83% Asian, 0.02% Pacific Islander, 1.72% from other races, and 2.43% from two or more races. Hispanic or Latino of any race were 7.00% of the population.
There were 3,179 households out of which 31.9% had children under the age of 18 living with them, 58.9% were married couples living together, 8.7% had a female householder with no husband present, and 29.0% were non-families. 23.2% of all households were made up of individuals and 5.9% had someone living alone who was 65 years of age or older. The average household size was 2.57 and the average family size was 3.07.
In the village the population was spread out with 23.0% under the age of 18, 7.5% from 18 to 24, 33.0% from 25 to 44, 25.1% from 45 to 64, and 11.4% who were 65 years of age or older. The median age was 37 years. For every 100 females there were 93.6 males. For every 100 females age 18 and over, there were 91.9 males.
The median income for a household in the village was $88,282. Males had a median income of $51,816 versus $35,541 for females. The per capita income for the village was $34,117. About 3.1% of families and 4.7% of the population were below the poverty line, including 5.4% of those under age 18 and 6.5% of those age 65 or over.
Itasca has a Metra station on Metra's Milwaukee District/West Line, which provides daily rail service between Elgin, Illinois and Chicago, Illinois (at Union Station).
The town is also located at the junction of Interstate 290, Veterans Memorial Tollway, and the Elgin-O'Hare Expressway, making Itasca a prime location for commerce and industry in the northwest suburbs.
State Highway 19 (Irving Park Road), which connects Chicago and Elgin, runs east-west through the heart of town. State Highway 53 (Rohlwing Road) runs north-south through the western edge of the village.