The 50 Richest Cities In Illinois, Per The Latest Census Data

We’ve been on a tour d’horizon currently with our research, analyzing varied American states and figuring out the richest cities there. Not too long ago, now we have lined a number of states of the Midwest, together with the richest cities in Ohio, Missouri, and Michigan. Now, we flip our eye on that basic state that Abraham Lincoln ultimately known as his dwelling state: Illinois.

We analyzed over 1,460 cities within the state as a way to establish the richest cities in Illinois. The way in which wherein we evaluated and scored every metropolis’s rating is detailed beneath.

Learn on to search out out what the richest city in Illinois is, plus the highest 50 wealthiest cities within the state total.

What Are the Richest Cities in Illinois?

As a way to assemble this listing of the richest cities in Illinois, we sourced key monetary knowledge from the Census Bureau’s 2022 American Community Survey. Armed with these datasets, we constructed a four-factor scoring system to assist establish the wealthiest cities in Illinois:

• Median family revenue
• Imply (common) family revenue
• Median dwelling worth
• Median property taxes paid

On the subject of Census knowledge, hold these items in thoughts: For sure components, the Census numbers have higher limits. For instance, for median family revenue, the Census Bureau has an higher restrict of “$250,000+”. For median dwelling worth, the higher restrict is “$2,000,000+”. For median property taxes paid, the higher restrict is “$10,000+”. For these causes, the imply family revenue (which is identical as common family revenue) dataset is essential as a result of the Census Bureau has actual figures for it. All 4 of those metrics had been scored, added up, after which ranked by the cities’ mixed scores.

Beneath you’ll discover a desk detailing the highest 50 richest cities in Illinois and their respective greenback figures for every metric:

The No. 1 richest city in Illinois in our rating is Kenilworth, a village with a complete of 755 households. Kenilworth is a northern suburb of Chicago. In Kenilworth, the median family revenue exceeds $250,000, whereas its common family revenue of $384,288 is the second highest in Illinois. The reported median dwelling worth in Kenilworth is over $1.28 million, making it one of many three Illinois cities with median dwelling values in extra of $1 million. For median property taxes paid per yr, they exceed $10,000 in Kenilworth. In line with Data USA, the employment breakdown is sensible for such a high-income metropolis. The highest class of occupations in Cherry Hill Villages is Administration Occupations, accounting for twenty-four.3% of the workforce. That is adopted by Enterprise & Monetary Operations Occupations, at 23.1% of the workforce. By way of the town’s high industries, they’re Finance & Insurance coverage (23.7% of the workforce), Skilled, Scientific, & Technical Companies (21.4% of the workforce), and Well being Care & Social Help (11.8% of the workforce).

The No. 2 richest city in Illinois is Winnetka, one other prosperous northern suburb of Chicago. Like No. Kenilworth, the median family revenue in Winnetka exceeds $250,000. In the meantime, the common family revenue in Winnetka is greater than Kenilworth’s, at $417,007, making it the best in Illinois. By way of reported dwelling worth, the median dwelling worth in Winnetka is over $1.12 million, with the median property taxes paid per yr surpassing $10,000. In line with Data USA, once more like Kenilworth, Administration Occupations (23.6% of the workforce) and Enterprise & Monetary Operations Occupations (19.3% of the workforce) dominate.

Coming in at No. 3 on our listing of the richest cities in Illinois is Glencoe, a large suburb in Chicago’s North Shore, dwelling to three,195 households. The median family revenue in Glencoe is $212,132, the seventh highest within the state. Nonetheless, Glencoe’s common family revenue of $353,638 makes it the third highest in Illinois. With a reported median dwelling worth of over $1.1 million, Glencoe has the third highest median dwelling worth within the state. This metropolis too pays greater than $10,000 per yr in property taxes.