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 | Morton Grove | Illinois Avg | US Average |
|---|---|---|---|
| Median Household Income | $103,726 | $82,179 | $78,145 |
| Median Personal Income | $82,851 | $65,365 | $61,726 |
| Average income growth | 5.0% | 4.8% | 5.1% |
| Six-Figure Earners | 18.9% | 14.4% | 13.2% |
The median household income in Morton Grove is about 26% higher than in Illinois. Income has been growing faster in Morton Grove (5.0%/yr) than in Illinois (4.8%/yr).
About 19% of adults in Morton Grove 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 Morton Grove, Illinois grew by 49.9% from 2009 to 2023, reaching $103,726 in 2023. That's an average of about 5.0% per year.
Economic Inequality in Morton Grove | Gender Pay Gap | Gini Coefficient
| Metric | Morton Grove | Illinois Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.559 | 0.567 | 0.570 |
| Male Median Income | $90,434 | $72,139 | $67,746 |
| Female Median Income | $74,033 | $58,023 | $54,793 |
| Gender Pay Gap | 18.1% | 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 Morton Grove, it is 0.559, 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 22% more than women's income in Morton Grove, Illinois. Over a 35-year career, a 22% wage gap accumulates to roughly $574,035 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Morton Grove, Illinois has widened from about 16% to 18% in 2023. In dollar terms, the gap has widened by $7,596 since 2009.
Employment
| Metric | Morton Grove | Illinois Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.8% | 5.8% | 5.2% |
| Working from Home | 14.8% | 14.0% | 13.4% |
| Commute time (minutes) | 26 | 23 | 22 |
Approximately 628 people are unemployed in Morton Grove, Illinois.
The average commute time in Morton Grove is 26 minutes, longer than the 23 minutes in Illinois.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Morton Grove, Illinois has fallen from 7.6% to 4.8% in 2023.
Conclusion
Considering all these factors, Morton Grove, Illinois has an overall wealth index grade of B, making it somewhat better than Illinois, and somewhat better than the country as a whole.
Morton Grove, IL Wealth Compared With Nearby Cities
Morton Grove, IL is the smallest of the 4 cities compared here, 23,502 residents against a local median of 46,451. There is no headline here. Every measure below sits within 15% of the median across the nearest cities, which makes Morton Grove, IL an unremarkable member of its own neighbourhood rather than an outlier in it.
The largest of those small differences is median household income, 9% above the local median at $103,726 against $95,468. Morton Grove, IL has the 2nd highest median household income of the 4 areas compared here.
| Area | Population | Median household income | Unemployment | Income inequality |
|---|---|---|---|---|
| Morton Grove, IL | 23,502 | $103,726 #2/4 | 4.8% #2/4 | 0.6 #1/4 |
| Niles, IL | 26,538 | $85,477 | 7.0% | 0.6 |
| Skokie, IL | 61,912 | $95,468 | 5.0% | 0.6 |
| Glenview, IL | 46,451 | $129,445 | 4.0% | 0.6 |
Frequently Asked Questions
Common questions about income and wealth in Morton Grove, Illinois.
How Rich Is Morton Grove, Illinois?
Morton Grove 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 $103,726, about 26% higher than the Illinois average of $82,179.
What is the current median household income in Morton Grove, Illinois?
As of 2023, the median household income in Morton Grove, Illinois is $103,726.
What was the median household income in Morton Grove in 2023?
In 2023, the median household income in Morton Grove, Illinois was $103,726.
What was the median household income in Morton Grove in 2020?
In 2020, the median household income in Morton Grove, Illinois was $83,734.
What is the Gini coefficient in Morton Grove, Illinois?
The Gini coefficient in Morton Grove is 0.559. 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 Morton Grove, Illinois?
Since 2009, the income gap between men and women in Morton Grove, Illinois has widened from about 16% to 18% in 2023. In dollar terms, the gap has widened by $7,596 since 2009.