Montgomery, Illinois Income Statistics
Updated
Montgomery 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
Montgomery Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Montgomery | Illinois Avg | US Average |
|---|---|---|---|
| Median Household Income | $97,530 | $84,042 | $80,455 |
| Median Personal Income | $59,692 | $64,565 | $60,758 |
| Average Yearly Income Growth | 4.7% | 4.5% | 4.8% |
| Six-Figure Earners | 11.1% | 15.0% | 13.9% |
| $200k+ Households | 9.3% | 13.8% | 13.2% |
The median household income in Montgomery is about 16% higher than in Illinois. Income has been growing faster in Montgomery (4.7%/yr) than in Illinois (4.5%/yr).
About 11% of adults in Montgomery 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 Montgomery, Illinois grew by 49.8% from 2009 to 2024, reaching $97,530 in 2024. That's an average of about 4.7% per year.
Montgomery has stayed well above the U.S. median household income in every year from 2009 to 2024 and has never fallen below it. It came closest in 2023, at 20% higher. The gap has narrowed from 27% in 2009 to 21% in 2024.
Income Distribution in Montgomery
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 3,614 households (48.7% of all households) have an income of $100,000 or more.
Across the U.S.: 40.2% of all households.
In 2024, 10.2% of households in Montgomery had an income under $35,000 and 23.0% had $150,000 or more. Across the U.S., those shares were 21.6% and 22.8%.
Compared with the U.S., Montgomery has a larger share of households earning $100,000 to $149,999 (25.6% vs 17.4%) and a smaller share earning $15,000 to $24,999 (1.8% vs 6.4%).
| Household income | Households | Share | U.S. share |
|---|---|---|---|
| Under $10,000 | 148 | 2.0% | 5.1% |
| $10,000 to $14,999 | 163 | 2.2% | 3.5% |
| $15,000 to $24,999 | 131 | 1.8% | 6.4% |
| $25,000 to $34,999 | 320 | 4.3% | 6.7% |
| $35,000 to $49,999 | 755 | 10.2% | 10.1% |
| $50,000 to $74,999 | 1,285 | 17.3% | 15.5% |
| $75,000 to $99,999 | 1,012 | 13.6% | 12.6% |
| $100,000 to $149,999 | 1,904 | 25.6% | 17.4% |
| $150,000 to $199,999 | 1,019 | 13.7% | 9.5% |
| $200,000 or more | 691 | 9.3% | 13.2% |
Shares are of all 7,428 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 1,875 residents (11.1% 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 12.5% of residents who have any income.
In 2024, 10.7% of Montgomery residents aged 15 and over reported no personal income, 23.8% had some income but less than $25,000, and 20.9% had $75,000 or more. Across the U.S., those shares were 12.8%, 28.7% and 22.0%.
Compared with the U.S., Montgomery has a larger share of residents earning $50,000 to $74,999 (20.0% vs 14.3%) and a smaller share earning $15,000 to $24,999 (7.6% vs 10.5%).
| Personal income | Residents | Share | U.S. share |
|---|---|---|---|
| No income | 1,798 | 10.7% | 12.8% |
| $1 to $9,999 | 1,667 | 9.9% | 11.2% |
| $10,000 to $14,999 | 1,058 | 6.3% | 7.0% |
| $15,000 to $24,999 | 1,277 | 7.6% | 10.5% |
| $25,000 to $34,999 | 1,392 | 8.3% | 9.5% |
| $35,000 to $49,999 | 2,756 | 16.4% | 12.6% |
| $50,000 to $74,999 | 3,359 | 20.0% | 14.3% |
| $75,000 to $99,999 | 1,637 | 9.7% | 8.2% |
| $100,000 or more | 1,875 | 11.1% | 13.9% |
Shares are of the 16,818 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 10.7% 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 Montgomery
| Metric | Montgomery | Illinois Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.498 | 0.547 | 0.552 |
| Male Median Income | $66,163 | $73,933 | $69,667 |
| Female Median Income | $55,700 | $60,067 | $56,850 |
| Gender Pay Gap | 15.8% | 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 Montgomery, it is 0.498, 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 19% more than women's income in Montgomery, Illinois. Over a 35-year career, a 19% wage gap accumulates to roughly $366,205 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Montgomery, Illinois has narrowed from about 34% to 16% in 2024. Over that period the gap was narrowest at 14% in 2022. In dollar terms, the gap has narrowed by $7,545 since 2009.
Employment
| Metric | Montgomery | Illinois Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.3% | 5.8% | 5.2% |
| Working from Home | 13.5% | 15.9% | 15.0% |
| Commute time (minutes) | 30 | 23 | 22 |
Approximately 517 people are unemployed in Montgomery, Illinois.
The average commute time in Montgomery is 30 minutes, longer than the 23 minutes in Illinois.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Montgomery, Illinois has fallen from 8.6% to 4.3% in 2024. Over that period the rate peaked at 10.4% in 2013 and fell as low as 3.6% in 2023.
Montgomery has crossed the U.S. unemployment rate 6 times since 2011, most recently dropping below it by 2022. In 2024 its rate was 0.9 points lower.
Montgomery, IL Wealth Compared With Nearby Cities
How Montgomery, IL compares with the 2 cities closest to it.
| 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. |
|---|---|---|---|---|---|
| Montgomery, IL | 21,311 | $97,530 #2/3 | 4.7%/yr #2/3 | 4.3% #2/3 | 0.498 #1/3 |
| Oswego, IL | 24,175 | $113,068 | 3.0%/yr | 3.5% | 0.536 |
| Aurora, IL | 168,587 | $92,311 | 4.9%/yr | 5.9% | 0.552 |
Conclusion
Considering all these factors, Montgomery, 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 Montgomery, Illinois.
How Rich Is Montgomery, Illinois?
Montgomery 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 $97,530, about 16% higher than the Illinois average of $84,042.
How has median household income changed in Montgomery, Illinois?
Between 2009 and 2024, the median household income in Montgomery, Illinois rose 50%, from $65,113 to $97,530. Over the same years, income here lagged behind Illinois as a whole: +50% against +52%.
What was the median household income in Montgomery in 2023?
In 2023, the median household income in Montgomery, Illinois was $93,714, down 2% from $95,162 in 2022. The Illinois median that year was $82,182.
What was the median household income in Montgomery in 2020?
In 2020, the median household income in Montgomery, Illinois was $89,232. By 2024 it had risen 9% to $97,530.
How strong is the job market in Montgomery, Illinois?
Unemployment in Montgomery, Illinois is only 4.3%, 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 Montgomery, Illinois?
The Gini coefficient in Montgomery is 0.498. 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 Montgomery, Illinois?
Since 2009, the income gap between men and women in Montgomery, Illinois has narrowed from about 34% to 16% in 2024. Over that period the gap was narrowest at 14% in 2022. In dollar terms, the gap has narrowed by $7,545 since 2009.
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