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 | Rolling Meadows | Illinois Avg | US Average |
|---|---|---|---|
| Median Household Income | $96,654 | $82,179 | $78,145 |
| Median Personal Income | $67,506 | $65,365 | $61,726 |
| Average income growth | 4.6% | 4.8% | 5.1% |
| Six-Figure Earners | 16.1% | 14.4% | 13.2% |
The median household income in Rolling Meadows is about 18% higher than in Illinois. Income has been growing slower in Rolling Meadows (4.6%/yr) than in Illinois (4.8%/yr).
About 16% of adults in Rolling Meadows 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 Rolling Meadows, Illinois grew by 64.4% from 2009 to 2023, reaching $96,654 in 2023. That's an average of about 4.6% per year.
Economic Inequality in Rolling Meadows | Gender Pay Gap | Gini Coefficient
| Metric | Rolling Meadows | Illinois Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.531 | 0.567 | 0.570 |
| Male Median Income | $72,560 | $72,139 | $67,746 |
| Female Median Income | $61,303 | $58,023 | $54,793 |
| Gender Pay Gap | 15.5% | 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 Rolling Meadows, it is 0.531, 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 18% more than women's income in Rolling Meadows, Illinois. Over a 35-year career, a 18% wage gap accumulates to roughly $393,995 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Rolling Meadows, Illinois has narrowed from about 17% to 16% in 2023. In dollar terms, the gap has widened by $2,410 since 2009.
Employment
| Metric | Rolling Meadows | Illinois Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.7% | 5.8% | 5.2% |
| Working from Home | 15.0% | 14.0% | 13.4% |
| Commute time (minutes) | 22 | 23 | 22 |
Approximately 788 people are unemployed in Rolling Meadows, Illinois.
The average commute time in Rolling Meadows is 22 minutes, shorter than the 23 minutes in Illinois.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Rolling Meadows, Illinois has fallen from 7.2% to 5.7% in 2023.
Conclusion
Considering all these factors, Rolling Meadows, Illinois has an overall wealth index grade of B, making it somewhat better than Illinois, and somewhat better than the country as a whole.
Rolling Meadows, IL Wealth Compared With Nearby Cities
Rolling Meadows, IL is the smallest of the 5 cities compared here, 23,336 residents against a local median of 65,541. The measure that sets Rolling Meadows, IL apart most is unemployment: 5.7%, 47% above the local median of 3.9%. That is the weaker end of the local range on this measure.
The cities themselves sit within 0.6% of each other on unemployment, a tighter band than the gap between any of them and Rolling Meadows, IL, which makes it a genuine outlier here rather than one end of a wide local spread. Rolling Meadows, IL has the 5th lowest unemployment of the 5 areas compared here.
| Area | Population | Median household income | Unemployment | Income inequality |
|---|---|---|---|---|
| Rolling Meadows, IL | 23,336 | $96,654 #4/5 | 5.7% #5/5 | 0.5 #2/5 |
| Palatine, IL | 56,455 | $97,583 | 3.8% | 0.5 |
| Arlington Heights, IL | 74,627 | $113,604 | 3.6% | 0.5 |
| Schaumburg, IL | 75,461 | $97,260 | 4.0% | 0.5 |
| Elk Grove Village, IL | 27,085 | $94,095 | 4.2% | 0.5 |
Frequently Asked Questions
Common questions about income and wealth in Rolling Meadows, Illinois.
How Rich Is Rolling Meadows, Illinois?
Rolling Meadows 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 $96,654, about 18% higher than the Illinois average of $82,179.
What is the current median household income in Rolling Meadows, Illinois?
As of 2023, the median household income in Rolling Meadows, Illinois is $96,654.
What was the median household income in Rolling Meadows in 2023?
In 2023, the median household income in Rolling Meadows, Illinois was $96,654.
What was the median household income in Rolling Meadows in 2020?
In 2020, the median household income in Rolling Meadows, Illinois was $81,884.
What is the Gini coefficient in Rolling Meadows, Illinois?
The Gini coefficient in Rolling Meadows is 0.531. 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 Rolling Meadows, Illinois?
Since 2009, the income gap between men and women in Rolling Meadows, Illinois has narrowed from about 17% to 16% in 2023. In dollar terms, the gap has widened by $2,410 since 2009.