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 | Highland Park | Illinois Avg | US Average |
|---|---|---|---|
| Median Household Income | $166,712 | $82,179 | $78,145 |
| Median Personal Income | $119,987 | $65,365 | $61,726 |
| Average income growth | 4.2% | 4.8% | 5.1% |
| Six-Figure Earners | 36.8% | 14.4% | 13.2% |
The median household income in Highland Park is about 103% higher than in Illinois. Income has been growing slower in Highland Park (4.2%/yr) than in Illinois (4.8%/yr).
About 37% of adults in Highland Park 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 Highland Park, Illinois grew by 50.1% from 2009 to 2023, reaching $166,712 in 2023. That's an average of about 4.2% per year.
Economic Inequality in Highland Park | Gender Pay Gap | Gini Coefficient
| Metric | Highland Park | Illinois Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.530 | 0.567 | 0.570 |
| Male Median Income | $129,673 | $72,139 | $67,746 |
| Female Median Income | $100,249 | $58,023 | $54,793 |
| Gender Pay Gap | 22.7% | 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 Highland Park, it is 0.530, 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 Highland Park, Illinois. Over a 35-year career, a 29% wage gap accumulates to roughly $1,029,840 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Highland Park, Illinois has narrowed from about 49% to 23% in 2023. In dollar terms, the gap has narrowed by $24,116 since 2009.
Employment
| Metric | Highland Park | Illinois Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.4% | 5.8% | 5.2% |
| Working from Home | 24.7% | 14.0% | 13.4% |
| Commute time (minutes) | 22 | 23 | 22 |
Approximately 467 people are unemployed in Highland Park, Illinois.
The average commute time in Highland Park is 22 minutes, shorter than the 23 minutes in Illinois.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Highland Park, Illinois has fallen from 5.5% to 3.4% in 2023.
Conclusion
Considering all these factors, Highland Park, Illinois has an overall wealth index grade of A+, making it far better than Illinois, and far better than the country as a whole.
Highland Park, IL Wealth Compared With Nearby Cities
How Highland Park, IL compares with the 1 cities closest to it.
| Area | Population | Median household income | Unemployment | Income inequality |
|---|---|---|---|---|
| Highland Park, IL | 26,256 | $166,712 #1/2 | 3.4% #2/2 | 0.5 #1/2 |
| Northbrook, IL | 30,197 | $157,208 | 3.1% | 0.5 |
Frequently Asked Questions
Common questions about income and wealth in Highland Park, Illinois.
How Rich Is Highland Park, Illinois?
Highland Park has a wealth index grade of A+. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an A+ grade means it is one of the most prosperous areas in the country. The median household income is $166,712, about 103% higher than the Illinois average of $82,179.
What is the current median household income in Highland Park, Illinois?
As of 2023, the median household income in Highland Park, Illinois is $166,712.
What was the median household income in Highland Park in 2023?
In 2023, the median household income in Highland Park, Illinois was $166,712.
What was the median household income in Highland Park in 2020?
In 2020, the median household income in Highland Park, Illinois was $148,807.
What is the Gini coefficient in Highland Park, Illinois?
The Gini coefficient in Highland Park is 0.530. 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 Highland Park, Illinois?
Since 2009, the income gap between men and women in Highland Park, Illinois has narrowed from about 49% to 23% in 2023. In dollar terms, the gap has narrowed by $24,116 since 2009.