Palatine, Illinois Income Statistics
Updated
Palatine 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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A
Palatine Above average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Palatine | Illinois Avg | US Average |
|---|---|---|---|
| Median Household Income | $100,471 | $84,042 | $80,455 |
| Median Personal Income | $71,291 | $64,565 | $60,758 |
| Average Yearly Income Growth | 3.5% | 4.5% | 4.8% |
| Six-Figure Earners | 20.4% | 15.0% | 13.9% |
| $200k+ Households | 18.4% | 13.8% | 13.2% |
The median household income in Palatine is about 20% higher than in Illinois. Income has been growing slower in Palatine (3.5%/yr) than in Illinois (4.5%/yr).
About 20% of adults in Palatine earn six figures ($100,000 or more) a year, higher than the Illinois average of 15%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Palatine, Illinois grew by 35.0% from 2009 to 2024, reaching $100,471 in 2024. That's an average of about 3.5% per year.
Palatine 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 25% higher. The gap has narrowed from 46% in 2009 to 25% in 2024.
Income Distribution in Palatine
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 11,921 households (50.2% of all households) have an income of $100,000 or more.
Across the U.S.: 40.2% of all households.
In 2024, 13.5% of households in Palatine had an income under $35,000 and 31.5% had $150,000 or more. Across the U.S., those shares were 21.6% and 22.8%.
Compared with the U.S., Palatine has a larger share of households earning $200,000 or more (18.4% vs 13.2%) and a smaller share earning $15,000 to $24,999 (2.9% vs 6.4%).
| Household income | Households | Share | U.S. share |
|---|---|---|---|
| Under $10,000 | 747 | 3.1% | 5.1% |
| $10,000 to $14,999 | 286 | 1.2% | 3.5% |
| $15,000 to $24,999 | 691 | 2.9% | 6.4% |
| $25,000 to $34,999 | 1,483 | 6.2% | 6.7% |
| $35,000 to $49,999 | 2,228 | 9.4% | 10.1% |
| $50,000 to $74,999 | 3,329 | 14.0% | 15.5% |
| $75,000 to $99,999 | 3,072 | 12.9% | 12.6% |
| $100,000 to $149,999 | 4,431 | 18.7% | 17.4% |
| $150,000 to $199,999 | 3,124 | 13.2% | 9.5% |
| $200,000 or more | 4,366 | 18.4% | 13.2% |
Shares are of all 23,756 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 9,848 residents (20.4% 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 23.0% of residents who have any income.
In 2024, 11.1% of Palatine residents aged 15 and over reported no personal income, 21.7% had some income but less than $25,000, and 30.1% had $75,000 or more. Across the U.S., those shares were 12.8%, 28.7% and 22.0%.
Compared with the U.S., Palatine has a larger share of residents earning $100,000 or more (20.4% vs 13.9%) and a smaller share earning $10,000 to $14,999 (4.2% vs 7.0%).
| Personal income | Residents | Share | U.S. share |
|---|---|---|---|
| No income | 5,329 | 11.1% | 12.8% |
| $1 to $9,999 | 4,197 | 8.7% | 11.2% |
| $10,000 to $14,999 | 2,030 | 4.2% | 7.0% |
| $15,000 to $24,999 | 4,221 | 8.8% | 10.5% |
| $25,000 to $34,999 | 4,573 | 9.5% | 9.5% |
| $35,000 to $49,999 | 5,827 | 12.1% | 12.6% |
| $50,000 to $74,999 | 7,498 | 15.6% | 14.3% |
| $75,000 to $99,999 | 4,674 | 9.7% | 8.2% |
| $100,000 or more | 9,848 | 20.4% | 13.9% |
Shares are of the 48,197 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 11.1% 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 Palatine
| Metric | Palatine | Illinois Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.517 | 0.547 | 0.552 |
| Male Median Income | $80,488 | $73,933 | $69,667 |
| Female Median Income | $67,682 | $60,067 | $56,850 |
| Gender Pay Gap | 15.9% | 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 Palatine, it is 0.517, 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 Palatine, Illinois. Over a 35-year career, a 19% wage gap accumulates to roughly $448,210 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Palatine, Illinois has narrowed from about 26% to 16% in 2024. Over that period the gap was narrowest at 12% in 2023. In dollar terms, the gap has narrowed by $4,035 since 2009.
Employment
| Metric | Palatine | Illinois Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.5% | 5.8% | 5.2% |
| Working from Home | 21.3% | 15.9% | 15.0% |
| Commute time (minutes) | 25 | 23 | 22 |
Approximately 1,178 people are unemployed in Palatine, Illinois.
The average commute time in Palatine is 25 minutes, longer than the 23 minutes in Illinois.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Palatine, Illinois has fallen from 6.5% to 3.5% in 2024. Over that period the rate peaked at 7.4% in 2013 and fell as low as 3.4% in 2019.
Palatine has stayed well below the U.S. unemployment rate in every year from 2011 to 2024 and has never risen above it. It came closest in 2022, at 1.2 points lower. The gap has held fairly steady over the period.
Palatine, IL Wealth Compared With Nearby Cities
How Palatine, 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. |
|---|---|---|---|---|---|
| Palatine, IL | 58,624 | $100,471 #2/3 | 3.5%/yr #3/3 | 3.5% #1/3 | 0.517 #2/3 |
| Rolling Meadows, IL | 24,014 | $95,351 | 3.9%/yr | 5.1% | 0.526 |
| Arlington Heights, IL | 77,229 | $114,070 | 4.7%/yr | 3.6% | 0.512 |
Conclusion
Considering all these factors, Palatine, Illinois has an overall wealth index grade of A, making it somewhat better than Illinois, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Palatine, Illinois.
How Rich Is Palatine, Illinois?
Palatine has a wealth index grade of A. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an A grade means residents are much better off than the U.S. average. The median household income is $100,471, about 20% higher than the Illinois average of $84,042.
How has median household income changed in Palatine, Illinois?
Between 2009 and 2024, the median household income in Palatine, Illinois rose 35%, from $74,402 to $100,471. Over the same years, income here lagged behind Illinois as a whole: +35% against +52%.
What was the median household income in Palatine in 2023?
In 2023, the median household income in Palatine, Illinois was $97,580, up 2% from $95,867 in 2022. The Illinois median that year was $82,182.
What was the median household income in Palatine in 2020?
In 2020, the median household income in Palatine, Illinois was $86,516. By 2024 it had risen 16% to $100,471.
How many people earn six figures in Palatine, Illinois?
Yes. 20% of adults in Palatine, Illinois earn $100,000 or more a year (about 1 in 5), against 15% (about 1 in 7) in Illinois. 18% of households have a combined income of $200,000 or more, compared with 14% in Illinois.
How strong is the job market in Palatine, Illinois?
Unemployment in Palatine, Illinois is only 3.5%, 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 Palatine, Illinois?
The Gini coefficient in Palatine is 0.517. 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 Palatine, Illinois?
Since 2009, the income gap between men and women in Palatine, Illinois has narrowed from about 26% to 16% in 2024. Over that period the gap was narrowest at 12% in 2023. In dollar terms, the gap has narrowed by $4,035 since 2009.
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