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 | St. Charles | Illinois Avg | US Average |
|---|---|---|---|
| Median Household Income | $109,298 | $82,179 | $78,145 |
| Median Personal Income | $74,956 | $65,365 | $61,726 |
| Average income growth | 2.8% | 4.8% | 5.1% |
| Six-Figure Earners | 20.6% | 14.4% | 13.2% |
The median household income in St. Charles is about 33% higher than in Illinois. Income has been growing slower in St. Charles (2.8%/yr) than in Illinois (4.8%/yr).
About 21% of adults in St. Charles 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 St. Charles, Illinois grew by 39.3% from 2009 to 2023, reaching $109,298 in 2023. That's an average of about 2.8% per year.
Economic Inequality in St. Charles | Gender Pay Gap | Gini Coefficient
| Metric | St. Charles | Illinois Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.553 | 0.567 | 0.570 |
| Male Median Income | $85,893 | $72,139 | $67,746 |
| Female Median Income | $65,491 | $58,023 | $54,793 |
| Gender Pay Gap | 23.8% | 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 St. Charles, it is 0.553, 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 31% more than women's income in St. Charles, Illinois. Over a 35-year career, a 31% wage gap accumulates to roughly $714,070 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in St. Charles, Illinois has narrowed from about 32% to 24% in 2023. In dollar terms, the gap has narrowed by $1,800 since 2009.
Employment
| Metric | St. Charles | Illinois Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.5% | 5.8% | 5.2% |
| Working from Home | 13.9% | 14.0% | 13.4% |
| Commute time (minutes) | 23 | 23 | 22 |
Approximately 800 people are unemployed in St. Charles, Illinois.
The average commute time in St. Charles is 23 minutes, about the same as in Illinois.
Unemployment Rate Over Time
Since 2011, the unemployment rate in St. Charles, Illinois has fallen from 4.9% to 4.5% in 2023.
Conclusion
Considering all these factors, St. Charles, Illinois has an overall wealth index grade of A, making it somewhat better than Illinois, and notably better than the country as a whole.
St. Charles, IL Wealth Compared With Nearby Cities
How St. Charles, IL compares with the 2 cities closest to it.
| Area | Population | Median household income | Unemployment | Income inequality |
|---|---|---|---|---|
| St. Charles, IL | 31,102 | $109,298 #2/3 | 4.5% #2/3 | 0.6 #2/3 |
| Batavia, IL | 22,548 | $117,882 | 4.2% | 0.5 |
| West Chicago, IL | 20,933 | $95,333 | 8.6% | 0.6 |
Frequently Asked Questions
Common questions about income and wealth in St. Charles, Illinois.
How Rich Is St. Charles, Illinois?
St. Charles 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 $109,298, about 33% higher than the Illinois average of $82,179.
What is the current median household income in St. Charles, Illinois?
As of 2023, the median household income in St. Charles, Illinois is $109,298.
What was the median household income in St. Charles in 2023?
In 2023, the median household income in St. Charles, Illinois was $109,298.
What was the median household income in St. Charles in 2020?
In 2020, the median household income in St. Charles, Illinois was $97,747.
What is the Gini coefficient in St. Charles, Illinois?
The Gini coefficient in St. Charles is 0.553. 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 St. Charles, Illinois?
Since 2009, the income gap between men and women in St. Charles, Illinois has narrowed from about 32% to 24% in 2023. In dollar terms, the gap has narrowed by $1,800 since 2009.