Wealth Index
Wealthier than 75% of counties in Illinois
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 | Cook County | Illinois Avg | US Average |
|---|---|---|---|
| Median Household Income | $82,176 | $82,179 | $78,145 |
| Median Personal Income | $68,249 | $65,365 | $61,726 |
| Average income growth | 5.3% | 4.8% | 5.1% |
| Six-Figure Earners | 15.7% | 14.4% | 13.2% |
The median household income in Cook County is about the same as in Illinois. Income has been growing faster in Cook County (5.3%/yr) than in Illinois (4.8%/yr).
About 16% of adults in Cook County 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 Cook County, Illinois grew by 51.7% from 2009 to 2023, reaching $82,176 in 2023. That's an average of about 5.3% per year.
Economic Inequality in Cook County | Gender Pay Gap | Gini Coefficient
| Metric | Cook County | Illinois Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.577 | 0.567 | 0.570 |
| Male Median Income | $73,151 | $72,139 | $67,746 |
| Female Median Income | $62,972 | $58,023 | $54,793 |
| Gender Pay Gap | 13.9% | 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 Cook County, it is 0.577, higher than Illinois's 0.567, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 16% more than women's income in Cook County, Illinois. Over a 35-year career, a 16% wage gap accumulates to roughly $356,265 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Cook County, Illinois has narrowed from about 17% to 14% in 2023. In dollar terms, the gap has widened by $1,603 since 2009.
Employment
| Metric | Cook County | Illinois Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.9% | 5.8% | 5.2% |
| Working from Home | 16.5% | 14.0% | 13.4% |
| Commute time (minutes) | 30 | 23 | 22 |
Approximately 191,285 people are unemployed in Cook County, Illinois.
The average commute time in Cook County is 30 minutes, longer than the 23 minutes in Illinois.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Cook County, Illinois has fallen from 10.8% to 6.9% in 2023.
Conclusion
Considering all these factors, Cook County, Illinois has an overall wealth index grade of B, making it about on par with Illinois, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Cook County, Illinois.
How Rich Is Cook County, Illinois?
Cook County 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 $82,176, close to the Illinois average of $82,179.
What is the current median household income in Cook County, Illinois?
As of 2023, the median household income in Cook County, Illinois is $82,176.
What was the median household income in Cook County in 2023?
In 2023, the median household income in Cook County, Illinois was $82,176.
What was the median household income in Cook County in 2020?
In 2020, the median household income in Cook County, Illinois was $68,496.
What is the Gini coefficient in Cook County, Illinois?
The Gini coefficient in Cook County is 0.577. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Cook County, Illinois?
Since 2009, the income gap between men and women in Cook County, Illinois has narrowed from about 17% to 14% in 2023. In dollar terms, the gap has widened by $1,603 since 2009.