Hanover Park, Illinois Income Statistics
Updated
Hanover Park Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
B
Hanover Park Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Hanover Park | Illinois Avg | US Average |
|---|---|---|---|
| Median Household Income | $93,488 | $84,042 | $80,455 |
| Median Personal Income | $54,549 | $64,565 | $60,758 |
| Average Yearly Income Growth | 3.5% | 4.5% | 4.8% |
| Six-Figure Earners | 10.9% | 15.0% | 13.9% |
| $200k+ Households | 12.1% | 13.8% | 13.2% |
The median household income in Hanover Park is about 11% higher than in Illinois. Income has been growing slower in Hanover Park (3.5%/yr) than in Illinois (4.5%/yr).
About 11% of adults in Hanover Park earn six figures ($100,000 or more) a year, lower than the Illinois average of 15%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Hanover Park, Illinois grew by 39.2% from 2009 to 2024, reaching $93,488 in 2024. That's an average of about 3.5% per year.
Hanover Park has stayed well above the U.S. median household income in every year from 2009 to 2024 and has never fallen below it. The gap has narrowed from 31% in 2009 to 16% in 2024, the closest it has been.
Income Distribution in Hanover Park
How incomes are spread across brackets, compared with the U.S. Pick a range to count who falls in it.
Households by income, 2024
Income range calculator
About 4,469 households (45.6% of all households) have an income of $100,000 or more.
Across the U.S.: 40.2% of all households.
In 2024, 15.2% of households in Hanover Park had an income under $35,000 and 25.8% had $150,000 or more. Across the U.S., those shares were 21.6% and 22.8%.
Compared with the U.S., Hanover Park has a larger share of households earning $75,000 to $99,999 (16.9% vs 12.6%) and a smaller share earning $25,000 to $34,999 (4.3% vs 6.7%).
| Household income | Households | Share | U.S. share |
|---|---|---|---|
| Under $10,000 | 471 | 4.8% | 5.1% |
| $10,000 to $14,999 | 163 | 1.7% | 3.5% |
| $15,000 to $24,999 | 436 | 4.5% | 6.4% |
| $25,000 to $34,999 | 422 | 4.3% | 6.7% |
| $35,000 to $49,999 | 818 | 8.3% | 10.1% |
| $50,000 to $74,999 | 1,363 | 13.9% | 15.5% |
| $75,000 to $99,999 | 1,658 | 16.9% | 12.6% |
| $100,000 to $149,999 | 1,935 | 19.7% | 17.4% |
| $150,000 to $199,999 | 1,349 | 13.8% | 9.5% |
| $200,000 or more | 1,184 | 12.1% | 13.2% |
Shares are of all 9,801 households, one per occupied home whatever its size. Households with zero or negative income are counted in the lowest bracket. Source: ACS 5-year estimates ending 2024 (table B19001).
Residents 15+ by personal income, 2024
Income range calculator
About 2,678 residents (10.9% of residents aged 15 and over) have a personal income of $100,000 or more.
Across the U.S.: 13.9% of residents aged 15 and over.
That is 13.1% of residents who have any income.
In 2024, 16.8% of Hanover Park residents aged 15 and over reported no personal income, 26.0% had some income but less than $25,000, and 19.7% had $75,000 or more. Across the U.S., those shares were 12.8%, 28.7% and 22.0%.
Compared with the U.S., Hanover Park has a larger share of residents with no personal income (16.8% vs 12.8%) and a smaller share earning $100,000 or more (10.9% vs 13.9%).
| Personal income | Residents | Share | U.S. share |
|---|---|---|---|
| No income | 4,138 | 16.8% | 12.8% |
| $1 to $9,999 | 2,435 | 9.9% | 11.2% |
| $10,000 to $14,999 | 1,463 | 5.9% | 7.0% |
| $15,000 to $24,999 | 2,511 | 10.2% | 10.5% |
| $25,000 to $34,999 | 2,059 | 8.4% | 9.5% |
| $35,000 to $49,999 | 3,532 | 14.4% | 12.6% |
| $50,000 to $74,999 | 3,616 | 14.7% | 14.3% |
| $75,000 to $99,999 | 2,174 | 8.8% | 8.2% |
| $100,000 or more | 2,678 | 10.9% | 13.9% |
Shares are of the 24,606 residents aged 15 and over, the only people the Census Bureau asks about income, and include those who reported none. A share of the whole population would count children as people without income, while a share of earners alone would hide the 16.8% with no income; the calculator adds that second share whenever your range leaves out people with no income. Source: ACS 5-year estimates ending 2024 (table B19325).
Income Inequality and the Gender Pay Gap in Hanover Park
| Metric | Hanover Park | Illinois Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.554 | 0.547 | 0.552 |
| Male Median Income | $65,729 | $73,933 | $69,667 |
| Female Median Income | $53,015 | $60,067 | $56,850 |
| Gender Pay Gap | 19.3% | 18.8% | 18.4% |
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 Hanover Park, it is 0.554, higher than Illinois's 0.547, so income is less evenly distributed here than there, and about the same as the US's 0.552, so income here is about as evenly distributed as there.
Men's income is about 24% more than women's income in Hanover Park, Illinois. Over a 35-year career, a 24% wage gap accumulates to roughly $444,990 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Hanover Park, Illinois has narrowed from about 20% to 19% in 2024. Over that period the gap was widest at 20% in 2015, and was narrowest at 14% in 2018. In dollar terms, the gap has widened by $3,256 since 2009.
Employment
| Metric | Hanover Park | Illinois Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.4% | 5.8% | 5.2% |
| Working from Home | 10.4% | 15.9% | 15.0% |
| Commute time (minutes) | 25 | 23 | 22 |
Approximately 728 people are unemployed in Hanover Park, Illinois.
The average commute time in Hanover Park is 25 minutes, longer than the 23 minutes in Illinois.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Hanover Park, Illinois has fallen from 10.1% to 4.4% in 2024. Over that period the rate fell as low as 4.1% in 2023.
Hanover Park started 1.4 points above the U.S. unemployment rate in 2011 but had dropped below it by 2013, and has not been above it since. In 2024 its rate was 0.8 points lower.
Hanover Park, IL Wealth Compared With Nearby Cities
Hanover Park, IL is typical in size for this group, 30,659 residents against a local median of 35,249, so the measures below are close to a like for like comparison. Hanover Park, IL's unemployment, at 4.4%, runs 20% above the 3.7% typical of the cities around it. That is the weaker end of the local range on this measure.
The cities themselves spread 1.8% on unemployment, so Hanover Park, IL sits at one end of an already wide local range rather than apart from it. Hanover Park, IL has the 4th lowest unemployment of the 5 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Hanover Park, IL | 30,659 | $93,488 #5/5 | 3.5%/yr #3/5 | 4.4% #4/5 | 0.554 #5/5 |
| Streamwood, IL | 38,420 | $95,390 | 3.3%/yr | 3.1% | 0.547 |
| Bartlett, IL | 33,124 | $126,830 | 4.3%/yr | 3.3% | 0.521 |
| Bloomingdale, IL | 24,204 | $100,481 | 3.5%/yr | 4.9% | 0.534 |
| Carol Stream, IL | 37,373 | $103,218 | 3.6%/yr | 4.0% | 0.531 |
Conclusion
Considering all these factors, Hanover Park, 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 Hanover Park, Illinois.
How Rich Is Hanover Park, Illinois?
Hanover Park 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 $93,488, about 11% higher than the Illinois average of $84,042.
How has median household income changed in Hanover Park, Illinois?
Between 2009 and 2024, the median household income in Hanover Park, Illinois rose 39%, from $67,138 to $93,488. Over the same years, income here lagged behind Illinois as a whole: +39% against +52%.
What was the median household income in Hanover Park in 2023?
In 2023, the median household income in Hanover Park, Illinois was $93,324, up 2% from $91,420 in 2022. The Illinois median that year was $82,182.
What was the median household income in Hanover Park in 2020?
In 2020, the median household income in Hanover Park, Illinois was $80,276. By 2024 it had risen 16% to $93,488.
Is unemployment high in Hanover Park, Illinois?
Unemployment in Hanover Park, Illinois is only 4.4%, well below the Illinois rate of 5.8%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Hanover Park, Illinois?
The Gini coefficient in Hanover Park is 0.554. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.552, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Hanover Park, Illinois?
Since 2009, the income gap between men and women in Hanover Park, Illinois has narrowed from about 20% to 19% in 2024. Over that period the gap was widest at 20% in 2015, and was narrowest at 14% in 2018. In dollar terms, the gap has widened by $3,256 since 2009.
Check income around your own address
Median household income, income brackets, poverty and education within 1, 3 and 5 miles of any US address, next to the county and state. Free on the map, or as a 7-page PDF report.
Get Your Demographic Report →