Wealth Index
Wealthier than 90% 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 | Kane County | Illinois Avg | US Average |
|---|---|---|---|
| Median Household Income | $100,749 | $82,179 | $78,145 |
| Median Personal Income | $65,835 | $65,365 | $61,726 |
| Average income growth | 4.9% | 4.8% | 5.1% |
| Six-Figure Earners | 15.7% | 14.4% | 13.2% |
The median household income in Kane County is about 23% higher than in Illinois. Income has been growing faster in Kane County (4.9%/yr) than in Illinois (4.8%/yr).
About 16% of adults in Kane 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 Kane County, Illinois grew by 47.1% from 2009 to 2023, reaching $100,749 in 2023. That's an average of about 4.9% per year.
Economic Inequality in Kane County | Gender Pay Gap | Gini Coefficient
| Metric | Kane County | Illinois Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.562 | 0.567 | 0.570 |
| Male Median Income | $73,638 | $72,139 | $67,746 |
| Female Median Income | $57,276 | $58,023 | $54,793 |
| Gender Pay Gap | 22.2% | 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 Kane County, it is 0.562, about the same as Illinois's 0.567, so income here is about as evenly distributed as 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 Kane County, Illinois. Over a 35-year career, a 29% wage gap accumulates to roughly $572,670 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Kane County, Illinois has narrowed from about 27% to 22% in 2023. In dollar terms, the gap has widened by $1,578 since 2009.
Employment
| Metric | Kane County | Illinois Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.0% | 5.8% | 5.2% |
| Working from Home | 14.4% | 14.0% | 13.4% |
| Commute time (minutes) | 23 | 23 | 22 |
Approximately 14,047 people are unemployed in Kane County, Illinois.
The average commute time in Kane County is 23 minutes, about the same as in Illinois.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Kane County, Illinois has fallen from 8.7% to 5.0% in 2023.
Conclusion
Considering all these factors, Kane 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 Kane County, Illinois.
How Rich Is Kane County, Illinois?
Kane 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 $100,749, about 23% higher than the Illinois average of $82,179.
What is the current median household income in Kane County, Illinois?
As of 2023, the median household income in Kane County, Illinois is $100,749.
What was the median household income in Kane County in 2023?
In 2023, the median household income in Kane County, Illinois was $100,749.
What was the median household income in Kane County in 2020?
In 2020, the median household income in Kane County, Illinois was $84,069.
What is the Gini coefficient in Kane County, Illinois?
The Gini coefficient in Kane County is 0.562. 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 Kane County, Illinois?
Since 2009, the income gap between men and women in Kane County, Illinois has narrowed from about 27% to 22% in 2023. In dollar terms, the gap has widened by $1,578 since 2009.