Are Chicago suburbs wealthy?
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Are Chicago suburbs wealthy?

Chicago is a large city located in the midwestern United States. It is the third largest city in the country and home to more than 2.7 million people. As a popular destination for business and tourism, it is also home to many affluent suburbs. But are these suburbs wealthy?

The answer is yes. According to data from the U.S. Census Bureau, more than half of the households in the Chicago metropolitan area have an annual income of $75,000 or more. This is higher than the national average. Additionally, the median household income in the Chicago suburbs is $75,937, which is higher than the median household income for the U.S. overall ($60,293).

Chicago’s affluent suburbs are located in both Cook and Lake County. The wealthiest suburbs, according to Forbes, are Glencoe, Winnetka, Kenilworth, Northfield, Lake Forest, and Highland Park. These towns have a median household income of at least $100,000, with Glencoe topping the list at $252,715. These suburbs also have some of the highest home values in the state, with the median home value in Glencoe at $1.4 million.

It is not just the suburbs of Chicago that are wealthy. The city itself is also becoming more affluent. According to the most recent census data, the median household income for Chicago is $66,020, which is higher than the national average. The median home value in the city is also on the rise, reaching $228,500 in 2019.

Overall, the answer to the question Are Chicago suburbs wealthy? is yes. The median household income in the suburbs is higher than the national average and many of the suburbs have median home values of over $1 million. Additionally, the city of Chicago itself is becoming more affluent, with the median household income and home values increasing each year.

Are Chicago suburbs wealthy?

What are the Wealthiest Chicago Suburbs?

Chicago is home to some of the wealthiest suburbs in the United States. The nine wealthy Chicago suburbs that stand out in terms of wealth, according to the latest U.S. Census Bureau and American Community Survey estimates, include Evanston, Wilmette, Winnetka, Glencoe, Lake Forest, Oak Brook, Burr Ridge, Hinsdale, and Barrington.

Evanston is the wealthiest suburb in the Chicago metropolitan area with a median household income of $95,651. Wilmette follows closely behind with a median household income of $92,112 and Winnetka with $90,042. Glencoe has a median household income of $86,842, Lake Forest of $86,006, Oak Brook of $84,622, Burr Ridge of $83,678, Hinsdale of $83,189, and Barrington with $81,974.

These communities are some of the most exclusive suburbs in the Chicago area and many of them boast sprawling mansions, manicured lawns, and affluent residents. They also have a wide range of amenities including top-notch schools, shopping centers, and cultural attractions. Property taxes in these communities tend to be among the highest in the state, with some of them reaching as high as 8 percent.

Here is an easy to read table listing the median household income of the 9 wealthiest Chicago suburbs:

SuburbMedian Household Income
Evanston$95,651
Wilmette$92,112
Winnetka$90,042
Glencoe$86,842
Lake Forest$86,006
Oak Brook$84,622
Burr Ridge$83,678
Hinsdale$83,189
Barrington$81,974

These exclusive Chicago suburbs are not just wealthy, they also offer a high quality of life with excellent schools, top-notch amenities, and plenty of cultural attractions. Although these affluent areas may not be within reach of everyone, they do provide an interesting glimpse into the lifestyles of the wealthy and affluent in the Chicago area.

Are Chicago suburbs wealthy? 2

A Look at Wealth in Chicago’s Suburbs

Chicago is a city with a diverse population, and it’s no wonder that some of the surrounding suburbs boast some of the wealthiest areas in the state. From the North Shore to the south suburbs, Chicago suburbs have long been home to affluent households.

The North Shore is one of the most well-known areas of wealth in the Chicago suburbs. Communities such as Glencoe, Wilmette, and Lake Forest are home to some of the wealthiest families in the state. The median household income in these towns is over $100,000, and the median home price is over $1 million. Additionally, the residents of these communities have access to highly rated schools and exclusive amenities.

Further south, the suburbs of Hinsdale, Burr Ridge, and Oak Brook have also become hubs of affluence. These towns boast median household incomes of over $100,000 and median home prices of $700,000. Similar to the North Shore, residents of these towns are also able to access highly rated schools and a multitude of exclusive amenities.

For those looking to move to the Chicago suburbs, there are a variety of options for both budget-minded and luxury-minded individuals. While the North Shore and other affluent areas are the most expensive, there are other suburbs that offer more affordable housing options. Some of the more affordable suburbs in the Chicago area are Naperville, Arlington Heights, and Bolingbrook.

For those looking for luxury living in the suburbs, Chicago has plenty to offer. From the North Shore to the south suburbs, there are plenty of affluent communities that provide residents with all the amenities and lifestyle they could want. With highly rated schools, exclusive amenities, and a variety of housing options, the suburbs of Chicago provide plenty of options for those who are looking to live the good life.

Table:

SuburbsMedian Household IncomeMedian Home Price
Glencoe, Wilmette, Lake Forest$100,000+$1 million+
Hinsdale, Burr Ridge, Oak Brook$100,000+$700,000+
Naperville, Arlington Heights, Bolingbrookvariesvaries
What areas are considered suburbs of Chicago?

The suburbs of Chicago include areas located within Cook County, Lake County, Kane County, McHenry County, Will County, and DuPage County.

What is the average income of a household in Chicago's suburbs?

The average household income in Chicago’s suburbs is estimated to be $92,200.

Are Chicago's suburbs considered wealthy communities?

Yes, many of Chicago’s suburbs are considered wealthy communities.

What factors contribute to the wealth of Chicago's suburbs?

The wealth of Chicago’s suburbs is largely attributed to the high median household income, the high median home value, and the availability of high-paying jobs.

How do Chicago's suburbs compare to other urban areas?

Chicago’s suburbs have a higher median household income and higher median home value compared to other urban areas, making them more affluent.

What percentage of Chicago suburban residents live in poverty?

Approximately 8% of Chicago suburban residents live in poverty.

What is the cost of living in Chicago's suburbs?

The cost of living in Chicago’s suburbs is higher than the national average due to higher housing and transportation costs.

What types of amenities are available in Chicago's suburbs?

Chicago’s suburbs feature many amenities, including parks, cultural attractions, shopping centers, and restaurants.

Are there any tax breaks for living in Chicago's suburbs?

Yes, there are tax breaks available for individuals and families living in certain Chicago suburbs.

What is the employment rate in Chicago's suburbs?

The employment rate in Chicago’s suburbs is higher than the national average, with many residents employed in professional or managerial positions.

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