Wealth Index
Wealthier than 81% 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 | McLean County | Illinois Avg | US Average |
|---|---|---|---|
| Median Household Income | $78,218 | $82,179 | $78,145 |
| Median Personal Income | $66,874 | $65,365 | $61,726 |
| Average income growth | 3.0% | 4.8% | 5.1% |
| Six-Figure Earners | 13.5% | 14.4% | 13.2% |
The median household income in McLean County is about 5% lower than in Illinois. Income has been growing slower in McLean County (3.0%/yr) than in Illinois (4.8%/yr).
About 13% of adults in McLean County earn six figures ($100,000 or more) a year, lower than the Illinois average of 14%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in McLean County, Illinois grew by 40.3% from 2009 to 2023, reaching $78,218 in 2023. That's an average of about 3.0% per year.
Economic Inequality in McLean County | Gender Pay Gap | Gini Coefficient
| Metric | McLean County | Illinois Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.582 | 0.567 | 0.570 |
| Male Median Income | $76,418 | $72,139 | $67,746 |
| Female Median Income | $57,830 | $58,023 | $54,793 |
| Gender Pay Gap | 24.3% | 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 McLean County, it is 0.582, higher than Illinois's 0.567, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 32% more than women's income in McLean County, Illinois. Over a 35-year career, a 32% wage gap accumulates to roughly $650,580 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in McLean County, Illinois has narrowed from about 27% to 24% in 2023. In dollar terms, the gap has widened by $4,537 since 2009.
Employment
| Metric | McLean County | Illinois Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.0% | 5.8% | 5.2% |
| Working from Home | 15.8% | 14.0% | 13.4% |
| Commute time (minutes) | 15 | 23 | 22 |
Approximately 2,691 people are unemployed in McLean County, Illinois.
The average commute time in McLean County is 15 minutes, shorter than the 23 minutes in Illinois.
Unemployment Rate Over Time
Since 2011, the unemployment rate in McLean County, Illinois has fallen from 6.6% to 3.0% in 2023.
Conclusion
Considering all these factors, McLean County, 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 McLean County, Illinois.
How Rich Is McLean County, Illinois?
McLean 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 $78,218, about 5% lower than the Illinois average of $82,179.
What is the current median household income in McLean County, Illinois?
As of 2023, the median household income in McLean County, Illinois is $78,218.
What was the median household income in McLean County in 2023?
In 2023, the median household income in McLean County, Illinois was $78,218.
What was the median household income in McLean County in 2020?
In 2020, the median household income in McLean County, Illinois was $67,666.
What is the Gini coefficient in McLean County, Illinois?
The Gini coefficient in McLean County is 0.582. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in McLean County, Illinois?
Since 2009, the income gap between men and women in McLean County, Illinois has narrowed from about 27% to 24% in 2023. In dollar terms, the gap has widened by $4,537 since 2009.