Hoffman Estates, Illinois Income Statistics
Updated
Hoffman Estates 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.
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B
Hoffman Estates Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Hoffman Estates | Illinois Avg | US Average |
|---|---|---|---|
| Median Household Income | $102,235 | $84,042 | $80,455 |
| Median Personal Income | $69,127 | $64,565 | $60,758 |
| Average Yearly Income Growth | 3.4% | 4.5% | 4.8% |
| Six-Figure Earners | 18.2% | 15.0% | 13.9% |
| $200k+ Households | 17.0% | 13.8% | 13.2% |
The median household income in Hoffman Estates is about 22% higher than in Illinois. Income has been growing slower in Hoffman Estates (3.4%/yr) than in Illinois (4.5%/yr).
About 18% of adults in Hoffman Estates earn six figures ($100,000 or more) a year, higher than the Illinois average of 15%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Hoffman Estates, Illinois grew by 42.3% from 2009 to 2024, reaching $102,235 in 2024. That's an average of about 3.4% per year.
Hoffman Estates has been far above the U.S. median household income in every year from 2009 to 2024. The gap has narrowed from 41% in 2009 to 27% in 2024, the closest it has been.
Income Distribution in Hoffman Estates
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 9,195 households (51.0% of all households) have an income of $100,000 or more.
Across the U.S.: 40.2% of all households.
In 2024, 11.9% of households in Hoffman Estates had an income under $35,000 and 30.9% had $150,000 or more. Across the U.S., those shares were 21.6% and 22.8%.
Compared with the U.S., Hoffman Estates has a larger share of households earning $150,000 to $199,999 (13.9% vs 9.5%) and a smaller share earning $15,000 to $24,999 (2.7% vs 6.4%).
| Household income | Households | Share | U.S. share |
|---|---|---|---|
| Under $10,000 | 578 | 3.2% | 5.1% |
| $10,000 to $14,999 | 226 | 1.3% | 3.5% |
| $15,000 to $24,999 | 488 | 2.7% | 6.4% |
| $25,000 to $34,999 | 856 | 4.8% | 6.7% |
| $35,000 to $49,999 | 1,589 | 8.8% | 10.1% |
| $50,000 to $74,999 | 2,513 | 14.0% | 15.5% |
| $75,000 to $99,999 | 2,568 | 14.3% | 12.6% |
| $100,000 to $149,999 | 3,628 | 20.1% | 17.4% |
| $150,000 to $199,999 | 2,510 | 13.9% | 9.5% |
| $200,000 or more | 3,057 | 17.0% | 13.2% |
Shares are of all 18,013 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 7,106 residents (18.2% 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 21.2% of residents who have any income.
In 2024, 14.2% of Hoffman Estates residents aged 15 and over reported no personal income, 23.0% had some income but less than $25,000, and 28.2% had $75,000 or more. Across the U.S., those shares were 12.8%, 28.7% and 22.0%.
Compared with the U.S., Hoffman Estates has a larger share of residents earning $100,000 or more (18.2% vs 13.9%) and a smaller share earning $15,000 to $24,999 (8.4% vs 10.5%).
| Personal income | Residents | Share | U.S. share |
|---|---|---|---|
| No income | 5,535 | 14.2% | 12.8% |
| $1 to $9,999 | 3,663 | 9.4% | 11.2% |
| $10,000 to $14,999 | 2,038 | 5.2% | 7.0% |
| $15,000 to $24,999 | 3,279 | 8.4% | 10.5% |
| $25,000 to $34,999 | 2,912 | 7.4% | 9.5% |
| $35,000 to $49,999 | 5,030 | 12.9% | 12.6% |
| $50,000 to $74,999 | 5,609 | 14.3% | 14.3% |
| $75,000 to $99,999 | 3,942 | 10.1% | 8.2% |
| $100,000 or more | 7,106 | 18.2% | 13.9% |
Shares are of the 39,115 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 14.2% 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 Hoffman Estates
| Metric | Hoffman Estates | Illinois Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.539 | 0.547 | 0.552 |
| Male Median Income | $75,028 | $73,933 | $69,667 |
| Female Median Income | $65,371 | $60,067 | $56,850 |
| Gender Pay Gap | 12.9% | 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 Hoffman Estates, it is 0.539, lower than Illinois's 0.547, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 15% more than women's income in Hoffman Estates, Illinois. Over a 35-year career, a 15% wage gap accumulates to roughly $337,995 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Hoffman Estates, Illinois has narrowed from about 26% to 13% in 2024. Over that period the gap was widest at 29% in 2015. In dollar terms, the gap has narrowed by $5,462 since 2009.
Employment
| Metric | Hoffman Estates | Illinois Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.9% | 5.8% | 5.2% |
| Working from Home | 18.2% | 15.9% | 15.0% |
| Commute time (minutes) | 25 | 23 | 22 |
Approximately 1,034 people are unemployed in Hoffman Estates, Illinois.
The average commute time in Hoffman Estates is 25 minutes, longer than the 23 minutes in Illinois.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Hoffman Estates, Illinois has fallen from 7.2% to 3.9% in 2024. Over that period the rate peaked at 8.2% in 2013 and fell as low as 3.7% in 2023.
Hoffman Estates has stayed below the U.S. unemployment rate in every year from 2011 to 2024 and has never risen above it. It came closest in 2017, at 0.8 points lower. The gap has held fairly steady over the period.
Hoffman Estates, IL Wealth Compared With Nearby Cities
Hoffman Estates, IL is the 2nd largest of the 4 cities compared here, 48,159 residents against a local median of 38,420. Hoffman Estates, IL sits close to the middle of its own neighbourhood. No measure below is more than 15% off the local median, so the choice between these cities turns on things this data does not capture.
The largest of those small differences is median household income, 7% above the local median at $102,235 against $95,390. Hoffman Estates, IL has the highest median household income of the 4 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. |
|---|---|---|---|---|---|
| Hoffman Estates, IL | 48,159 | $102,235 #1/4 | 3.4%/yr #2/4 | 3.9% #3/4 | 0.539 #2/4 |
| Streamwood, IL | 38,420 | $95,390 | 3.3%/yr | 3.1% | 0.547 |
| Schaumburg, IL | 78,574 | $99,871 | 3.4%/yr | 3.7% | 0.521 |
| Hanover Park, IL | 30,659 | $93,488 | 3.5%/yr | 4.4% | 0.554 |
Conclusion
Considering all these factors, Hoffman Estates, 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 Hoffman Estates, Illinois.
How Rich Is Hoffman Estates, Illinois?
Hoffman Estates 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 $102,235, about 22% higher than the Illinois average of $84,042.
Are incomes growing in Hoffman Estates, Illinois?
Between 2009 and 2024, the median household income in Hoffman Estates, Illinois rose 42%, from $71,854 to $102,235. Over the same years, income here lagged behind Illinois as a whole: +42% against +52%.
What was the median household income in Hoffman Estates in 2023?
In 2023, the median household income in Hoffman Estates, Illinois was $101,955, up 2% from $99,700 in 2022. The Illinois median that year was $82,182.
What was the median household income in Hoffman Estates in 2020?
In 2020, the median household income in Hoffman Estates, Illinois was $89,558. By 2024 it had risen 14% to $102,235.
How strong is the job market in Hoffman Estates, Illinois?
Unemployment in Hoffman Estates, Illinois is only 3.9%, 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 Hoffman Estates, Illinois?
The Gini coefficient in Hoffman Estates is 0.539. 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 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Hoffman Estates, Illinois?
Since 2009, the income gap between men and women in Hoffman Estates, Illinois has narrowed from about 26% to 13% in 2024. Over that period the gap was widest at 29% in 2015. In dollar terms, the gap has narrowed by $5,462 since 2009.
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