Oak Forest, Illinois Income Statistics
Oak Forest 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.
-
B
Oak Forest Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Oak Forest | Illinois Avg | US Average |
|---|---|---|---|
| Median Household Income | $88,955 | $84,042 | $80,455 |
| Median Personal Income | $60,369 | $64,565 | $60,758 |
| Average Yearly Income Growth | 3.2% | 4.5% | 4.8% |
| Six-Figure Earners | 13.0% | 15.0% | 13.9% |
| $200k+ Households | 11.5% | 13.8% | 13.2% |
The median household income in Oak Forest is about 6% higher than in Illinois. Income has been growing slower in Oak Forest (3.2%/yr) than in Illinois (4.5%/yr).
About 13% of adults in Oak Forest 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 Oak Forest, Illinois grew by 37.9% from 2009 to 2024, reaching $88,955 in 2024. That's an average of about 3.2% per year.
Income Inequality and the Gender Pay Gap in Oak Forest
| Metric | Oak Forest | Illinois Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.526 | 0.547 | 0.552 |
| Male Median Income | $68,641 | $73,933 | $69,667 |
| Female Median Income | $61,983 | $60,067 | $56,850 |
| Gender Pay Gap | 9.7% | 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 Oak Forest, it is 0.526, 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 11% more than women's income in Oak Forest, Illinois. Over a 35-year career, a 11% wage gap accumulates to roughly $233,030 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Oak Forest, Illinois has narrowed from about 32% to 10% in 2024. Over that period the gap was widest at 35% in 2010. In dollar terms, the gap has narrowed by $11,202 since 2009.
Employment
| Metric | Oak Forest | Illinois Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.7% | 5.8% | 5.2% |
| Working from Home | 9.5% | 15.9% | 15.0% |
| Commute time (minutes) | 28 | 23 | 22 |
Approximately 659 people are unemployed in Oak Forest, Illinois.
The average commute time in Oak Forest is 28 minutes, longer than the 23 minutes in Illinois.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Oak Forest, Illinois has fallen from 10.4% to 5.7% in 2024. Over that period the rate peaked at 12.0% in 2014 and fell as low as 4.9% in 2021.
Conclusion
Considering all these factors, Oak Forest, 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 Oak Forest, Illinois.
How Wealthy Is Oak Forest, Illinois?
Oak Forest 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 $88,955, about 6% higher than the Illinois average of $84,042.
How fast is household income rising in Oak Forest, Illinois?
Between 2009 and 2024, the median household income in Oak Forest, Illinois rose 38%, from $64,507 to $88,955. Over the same years, income here lagged behind Illinois as a whole: +38% against +52%.
What was the median household income in Oak Forest in 2023?
In 2023, the median household income in Oak Forest, Illinois was $84,540, down 1% from $85,807 in 2022. The Illinois median that year was $82,182.
What was the median household income in Oak Forest in 2020?
In 2020, the median household income in Oak Forest, Illinois was $73,055. By 2024 it had risen 22% to $88,955.
What is the Gini coefficient in Oak Forest, Illinois?
The Gini coefficient in Oak Forest is 0.526. 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 Oak Forest, Illinois?
Since 2009, the income gap between men and women in Oak Forest, Illinois has narrowed from about 32% to 10% in 2024. Over that period the gap was widest at 35% in 2010. In dollar terms, the gap has narrowed by $11,202 since 2009.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →