Wealth Index
Wealthier than 93% 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 | Grundy County | Illinois Avg | US Average |
|---|---|---|---|
| Median Household Income | $92,389 | $82,179 | $78,145 |
| Median Personal Income | $69,819 | $65,365 | $61,726 |
| Average income growth | 4.7% | 4.8% | 5.1% |
| Six-Figure Earners | 16.0% | 14.4% | 13.2% |
The median household income in Grundy County is about 12% higher than in Illinois. Income has been growing slower in Grundy County (4.7%/yr) than in Illinois (4.8%/yr).
About 16% of adults in Grundy 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 Grundy County, Illinois grew by 42.6% from 2009 to 2023, reaching $92,389 in 2023. That's an average of about 4.7% per year.
Economic Inequality in Grundy County | Gender Pay Gap | Gini Coefficient
| Metric | Grundy County | Illinois Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.537 | 0.567 | 0.570 |
| Male Median Income | $81,406 | $72,139 | $67,746 |
| Female Median Income | $52,721 | $58,023 | $54,793 |
| Gender Pay Gap | 35.2% | 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 Grundy County, it is 0.537, 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 54% more than women's income in Grundy County, Illinois. Over a 35-year career, a 54% wage gap accumulates to roughly $1,003,975 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Grundy County, Illinois has widened from about 33% to 35% in 2023. In dollar terms, the gap has widened by $9,626 since 2009.
Employment
| Metric | Grundy County | Illinois Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.5% | 5.8% | 5.2% |
| Working from Home | 9.7% | 14.0% | 13.4% |
| Commute time (minutes) | 23 | 23 | 22 |
Approximately 1,272 people are unemployed in Grundy County, Illinois.
The average commute time in Grundy County is 23 minutes, about the same as in Illinois.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Grundy County, Illinois has fallen from 9.7% to 4.5% in 2023.
Conclusion
Considering all these factors, Grundy County, Illinois has an overall wealth index grade of B, making it somewhat better than Illinois, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Grundy County, Illinois.
How Rich Is Grundy County, Illinois?
Grundy 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 $92,389, about 12% higher than the Illinois average of $82,179.
What is the current median household income in Grundy County, Illinois?
As of 2023, the median household income in Grundy County, Illinois is $92,389.
What was the median household income in Grundy County in 2023?
In 2023, the median household income in Grundy County, Illinois was $92,389.
What was the median household income in Grundy County in 2020?
In 2020, the median household income in Grundy County, Illinois was $75,708.
What is the Gini coefficient in Grundy County, Illinois?
The Gini coefficient in Grundy County is 0.537. 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 Grundy County, Illinois?
Since 2009, the income gap between men and women in Grundy County, Illinois has widened from about 33% to 35% in 2023. In dollar terms, the gap has widened by $9,626 since 2009.