There were 393 households out of which 29.0% had children under the age of 18 living with them, 59.3% were married couples living together, 7.6% had a female householder with no husband present, and 30.5% were non-families. 26.5% of all households were made up of individuals and 16.5% had someone living alone who was 65 years of age or older. The average household size was 2.36 and the average family size was 2.85.
In the village the population was spread out with 23.8% under the age of 18, 5.9% from 18 to 24, 27.4% from 25 to 44, 20.6% from 45 to 64, and 22.2% who were 65 years of age or older. The median age was 40 years. For every 100 females there were 90.3 males. For every 100 females age 18 and over, there were 87.3 males.
The median income for a household in the village was $37,500, and the median income for a family was $45,341. Males had a median income of $29,750 versus $22,721 for females. The per capita income for the village was $18,231. About 6.0% of families and 8.4% of the population were below the poverty line, including 8.8% of those under age 18 and 11.1% of those age 65 or over.
Raymond is the base of the Panhandle School District (also known as Panhandle CUSD #2). The district's offices are located on Broad Street and the district's only high school, Lincolnwood Sr. High School (shares building with Lincolnwood Jr. High School), is located on the extreme east end of Prairie Street (although the town is laid out in a slightly irregular fashion, making this street NORTH Prairie Street, despite the fact that it runs East - West).
Raymond also has its own grade school, also located on Prairie Street, serving Pre-K through 6th Grade.
The communities of Farmersville, Waggoner, and Harvel are also part of the Panhandle School District.