Wealth Index
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
Income Statistics Overview
| Metric | Carol Stream | Illinois Avg | US Average |
|---|---|---|---|
| Median Household Income | $105,878 | $82,179 | $78,145 |
| Median Personal Income | $71,921 | $65,365 | $61,726 |
| Average income growth | 4.5% | 4.8% | 5.1% |
| Six-Figure Earners | 15.5% | 14.4% | 13.2% |
The median household income in Carol Stream is about 29% higher than in Illinois. Income has been growing slower in Carol Stream (4.5%/yr) than in Illinois (4.8%/yr).
About 15% of adults in Carol Stream earn six figures ($100,000 or more) a year, higher than the Illinois average of 14%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Carol Stream, Illinois grew by 41.2% from 2009 to 2023, reaching $105,878 in 2023. That's an average of about 4.5% per year.
Economic Inequality in Carol Stream | Gender Pay Gap | Gini Coefficient
| Metric | Carol Stream | Illinois Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.533 | 0.567 | 0.570 |
| Male Median Income | $80,157 | $72,139 | $67,746 |
| Female Median Income | $62,244 | $58,023 | $54,793 |
| Gender Pay Gap | 22.3% | 19.6% | 19.1% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Carol Stream, it is 0.533, lower than Illinois's 0.567, so income is more evenly distributed here than there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 29% more than women's income in Carol Stream, Illinois. Over a 35-year career, a 29% wage gap accumulates to roughly $626,955 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Carol Stream, Illinois has narrowed from about 23% to 22% in 2023. In dollar terms, the gap has widened by $4,645 since 2009.
Employment
| Metric | Carol Stream | Illinois Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.2% | 5.8% | 5.2% |
| Working from Home | 13.9% | 14.0% | 13.4% |
| Commute time (minutes) | 26 | 23 | 22 |
Approximately 897 people are unemployed in Carol Stream, Illinois.
The average commute time in Carol Stream is 26 minutes, longer than the 23 minutes in Illinois.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Carol Stream, Illinois has fallen from 8.9% to 4.2% in 2023.
Conclusion
Considering all these factors, Carol Stream, Illinois has an overall wealth index grade of B, making it somewhat better than Illinois, and somewhat better than the country as a whole.
Carol Stream, IL Wealth Compared With Nearby Cities
Carol Stream, IL is the 2nd largest of the 5 cities compared here, 36,866 residents against a local median of 26,262. Nothing separates Carol Stream, IL sharply from the cities around it. Each measure below lands within 15% of the local median, close enough that the differences are within what survey sampling alone would produce.
The largest of those small differences is median household income, 12% above the local median at $105,878 against $94,632. Carol Stream, IL has the 2nd highest median household income of the 5 areas compared here.
| Area | Population | Median household income | Unemployment | Income inequality |
|---|---|---|---|---|
| Carol Stream, IL | 36,866 | $105,878 #2/5 | 4.2% #3/5 | 0.5 #2/5 |
| Bloomingdale, IL | 22,627 | $95,918 | 4.7% | 0.5 |
| Glendale Heights, IL | 23,187 | $92,202 | 5.1% | 0.5 |
| Hanover Park, IL | 29,338 | $93,347 | 4.1% | 0.5 |
| Wheaton, IL | 45,588 | $117,814 | 3.6% | 0.6 |
Frequently Asked Questions
Common questions about income and wealth in Carol Stream, Illinois.
How Rich Is Carol Stream, Illinois?
Carol Stream has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $105,878, about 29% higher than the Illinois average of $82,179.
What is the current median household income in Carol Stream, Illinois?
As of 2023, the median household income in Carol Stream, Illinois is $105,878.
What was the median household income in Carol Stream in 2023?
In 2023, the median household income in Carol Stream, Illinois was $105,878.
What was the median household income in Carol Stream in 2020?
In 2020, the median household income in Carol Stream, Illinois was $92,245.
What is the Gini coefficient in Carol Stream, Illinois?
The Gini coefficient in Carol Stream is 0.533. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.570, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Carol Stream, Illinois?
Since 2009, the income gap between men and women in Carol Stream, Illinois has narrowed from about 23% to 22% in 2023. In dollar terms, the gap has widened by $4,645 since 2009.