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We’ve been on a tour d’horizon recently with our research, analyzing varied American states and figuring out the richest cities there. Just lately, we now have coated a number of states of the Midwest, together with the richest cities in Ohio, Missouri, and Michigan. Now, we flip our eye on that traditional state that Abraham Lincoln ultimately known as his house state: Illinois.
We analyzed over 1,460 cities within the state in an effort to establish the richest cities in Illinois. The way in which through which we evaluated and scored every metropolis’s rating is detailed under.
Learn on to search out out what the richest metropolis in Illinois is, plus the highest 50 wealthiest cities within the state total.
What Are the Richest Cities in Illinois?
So as to assemble this listing of the richest cities in Illinois, we sourced key monetary information from the Census Bureau’s 2022 American Neighborhood 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 house worth
- Median property taxes paid
In relation to Census information, preserve this stuff in thoughts: For sure elements, the Census numbers have higher limits. For instance, for median family revenue, the Census Bureau has an higher restrict of “$250,000+”. For median house 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 metropolis 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 house worth in Kenilworth is over $1.28 million, making it one of many three Illinois cities with median house values in extra of $1 million. For median property taxes paid per 12 months, they exceed $10,000 in Kenilworth. In keeping with Information USA, the employment breakdown is smart 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. When it comes to the town’s prime 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 metropolis 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 typical family revenue in Winnetka is larger than Kenilworth’s, at $417,007, making it the very best in Illinois. When it comes to reported house worth, the median house worth in Winnetka is over $1.12 million, with the median property taxes paid per 12 months surpassing $10,000. In keeping with Information 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, house to three,195 households. The median family revenue in Glencoe is $212,132, the seventh highest within the state. Nevertheless, Glencoe’s common family revenue of $353,638 makes it the third highest in Illinois. With a reported median house worth of over $1.1 million, Glencoe has the third highest median house worth within the state. This metropolis too pays greater than $10,000 per 12 months in property taxes.
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