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 | Evanston | Illinois Avg | US Average |
|---|---|---|---|
| Median Household Income | $94,969 | $82,179 | $78,145 |
| Median Personal Income | $88,520 | $65,365 | $61,726 |
| Average income growth | 4.2% | 4.8% | 5.1% |
| Six-Figure Earners | 23.1% | 14.4% | 13.2% |
The median household income in Evanston is about 16% higher than in Illinois. Income has been growing slower in Evanston (4.2%/yr) than in Illinois (4.8%/yr).
About 23% of adults in Evanston 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 Evanston, Illinois grew by 33.0% from 2009 to 2023, reaching $94,969 in 2023. That's an average of about 4.2% per year.
Economic Inequality in Evanston | Gender Pay Gap | Gini Coefficient
| Metric | Evanston | Illinois Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.598 | 0.567 | 0.570 |
| Male Median Income | $93,498 | $72,139 | $67,746 |
| Female Median Income | $83,213 | $58,023 | $54,793 |
| Gender Pay Gap | 11.0% | 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 Evanston, it is 0.598, 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 12% more than women's income in Evanston, Illinois. Over a 35-year career, a 12% wage gap accumulates to roughly $359,975 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Evanston, Illinois has narrowed from about 24% to 11% in 2023. In dollar terms, the gap has narrowed by $6,354 since 2009.
Employment
| Metric | Evanston | Illinois Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.4% | 5.8% | 5.2% |
| Working from Home | 25.1% | 14.0% | 13.4% |
| Commute time (minutes) | 26 | 23 | 22 |
Approximately 2,316 people are unemployed in Evanston, Illinois.
The average commute time in Evanston is 26 minutes, longer than the 23 minutes in Illinois.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Evanston, Illinois has fallen from 7.4% to 6.4% in 2023.
Conclusion
Considering all these factors, Evanston, Illinois has an overall wealth index grade of B, making it somewhat better than Illinois, and somewhat better than the country as a whole.
Evanston, IL Wealth Compared With Nearby Cities
How Evanston, IL compares with the 2 cities closest to it.
| Area | Population | Median household income | Unemployment | Income inequality |
|---|---|---|---|---|
| Evanston, IL | 63,574 | $94,969 #3/3 | 6.4% #3/3 | 0.6 #3/3 |
| Wilmette, IL | 23,735 | $185,041 | 4.5% | 0.5 |
| Skokie, IL | 61,912 | $95,468 | 5.0% | 0.6 |
Frequently Asked Questions
Common questions about income and wealth in Evanston, Illinois.
How Wealthy Is Evanston, Illinois?
Evanston 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 $94,969, about 16% higher than the Illinois average of $82,179.
What is the current median household income in Evanston, Illinois?
As of 2023, the median household income in Evanston, Illinois is $94,969.
What was the median household income in Evanston in 2023?
In 2023, the median household income in Evanston, Illinois was $94,969.
What was the median household income in Evanston in 2020?
In 2020, the median household income in Evanston, Illinois was $82,539.
What is the Gini coefficient in Evanston, Illinois?
The Gini coefficient in Evanston is 0.598. 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 Evanston, Illinois?
Since 2009, the income gap between men and women in Evanston, Illinois has narrowed from about 24% to 11% in 2023. In dollar terms, the gap has narrowed by $6,354 since 2009.