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 | Niles | Illinois Avg | US Average |
|---|---|---|---|
| Median Household Income | $85,477 | $82,179 | $78,145 |
| Median Personal Income | $64,653 | $65,365 | $61,726 |
| Average income growth | 6.1% | 4.8% | 5.1% |
| Six-Figure Earners | 13.0% | 14.4% | 13.2% |
The median household income in Niles is about 4% higher than in Illinois. Income has been growing faster in Niles (6.1%/yr) than in Illinois (4.8%/yr).
About 13% of adults in Niles 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 Niles, Illinois grew by 62.4% from 2009 to 2023, reaching $85,477 in 2023. That's an average of about 6.1% per year.
Economic Inequality in Niles | Gender Pay Gap | Gini Coefficient
| Metric | Niles | Illinois Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.574 | 0.567 | 0.570 |
| Male Median Income | $71,996 | $72,139 | $67,746 |
| Female Median Income | $59,015 | $58,023 | $54,793 |
| Gender Pay Gap | 18.0% | 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 Niles, it is 0.574, higher than Illinois's 0.567, so income is less evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 22% more than women's income in Niles, Illinois. Over a 35-year career, a 22% wage gap accumulates to roughly $454,335 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Niles, Illinois has widened from about 13% to 18% in 2023. In dollar terms, the gap has widened by $7,221 since 2009.
Employment
| Metric | Niles | Illinois Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.0% | 5.8% | 5.2% |
| Working from Home | 10.8% | 14.0% | 13.4% |
| Commute time (minutes) | 26 | 23 | 22 |
Approximately 1,007 people are unemployed in Niles, Illinois.
The average commute time in Niles is 26 minutes, longer than the 23 minutes in Illinois.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Niles, Illinois has risen from 6.9% to 7.0% in 2023.
Conclusion
Considering all these factors, Niles, 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.
Niles, IL Wealth Compared With Nearby Cities
Niles, IL is the 3rd largest of the 4 cities compared here, 26,538 residents against a local median of 35,960. The measure that sets Niles, IL apart most is unemployment: 7.0%, 76% above the local median of 4.0%. That is the weaker end of the local range on this measure.
Median household income tells the same story from another angle: $85,477 against a local median of $129,445, 34% below it. Every measure here with a clear better direction points the same way, and it is the wrong way: Niles, IL reads weaker than its neighbours on all of them. The cities themselves sit within 1.5% of each other on unemployment, a tighter band than the gap between any of them and Niles, IL, which makes it a genuine outlier here rather than one end of a wide local spread. Niles, IL has the 4th lowest unemployment of the 4 areas compared here.
| Area | Population | Median household income | Unemployment | Income inequality |
|---|---|---|---|---|
| Niles, IL | 26,538 | $85,477 #4/4 | 7.0% #4/4 | 0.6 #4/4 |
| Morton Grove, IL | 23,502 | $103,726 | 4.8% | 0.6 |
| Park Ridge, IL | 35,960 | $140,407 | 3.4% | 0.5 |
| Glenview, IL | 46,451 | $129,445 | 4.0% | 0.6 |
Frequently Asked Questions
Common questions about income and wealth in Niles, Illinois.
How Rich Is Niles, Illinois?
Niles 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 $85,477, about 4% higher than the Illinois average of $82,179.
What is the current median household income in Niles, Illinois?
As of 2023, the median household income in Niles, Illinois is $85,477.
What was the median household income in Niles in 2023?
In 2023, the median household income in Niles, Illinois was $85,477.
What was the median household income in Niles in 2020?
In 2020, the median household income in Niles, Illinois was $69,721.
What is the Gini coefficient in Niles, Illinois?
The Gini coefficient in Niles is 0.574. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Niles, Illinois?
Since 2009, the income gap between men and women in Niles, Illinois has widened from about 13% to 18% in 2023. In dollar terms, the gap has widened by $7,221 since 2009.