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 | Wheaton | Illinois Avg | US Average |
|---|---|---|---|
| Median Household Income | $117,814 | $82,179 | $78,145 |
| Median Personal Income | $91,327 | $65,365 | $61,726 |
| Average income growth | 4.1% | 4.8% | 5.1% |
| Six-Figure Earners | 24.2% | 14.4% | 13.2% |
The median household income in Wheaton is about 43% higher than in Illinois. Income has been growing slower in Wheaton (4.1%/yr) than in Illinois (4.8%/yr).
About 24% of adults in Wheaton 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 Wheaton, Illinois grew by 39.4% from 2009 to 2023, reaching $117,814 in 2023. That's an average of about 4.1% per year.
Economic Inequality in Wheaton | Gender Pay Gap | Gini Coefficient
| Metric | Wheaton | Illinois Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.573 | 0.567 | 0.570 |
| Male Median Income | $107,696 | $72,139 | $67,746 |
| Female Median Income | $72,459 | $58,023 | $54,793 |
| Gender Pay Gap | 32.7% | 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 Wheaton, it is 0.573, 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 49% more than women's income in Wheaton, Illinois. Over a 35-year career, a 49% wage gap accumulates to roughly $1,233,295 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Wheaton, Illinois has narrowed from about 38% to 33% in 2023. In dollar terms, the gap has widened by $4,428 since 2009.
Employment
| Metric | Wheaton | Illinois Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.6% | 5.8% | 5.2% |
| Working from Home | 22.8% | 14.0% | 13.4% |
| Commute time (minutes) | 21 | 23 | 22 |
Approximately 882 people are unemployed in Wheaton, Illinois.
The average commute time in Wheaton is 21 minutes, shorter than the 23 minutes in Illinois.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Wheaton, Illinois has fallen from 6.6% to 3.6% in 2023.
Conclusion
Considering all these factors, Wheaton, Illinois has an overall wealth index grade of A, making it somewhat better than Illinois, and notably better than the country as a whole.
Wheaton, IL Wealth Compared With Nearby Cities
Wheaton, IL is the largest of the 5 cities compared here, 45,588 residents against a local median of 25,097. The measure that sets Wheaton, IL apart most is unemployment: 3.6%, 27% below the local median of 4.9%. That is the better end of the local range on this measure.
The cities themselves spread 1.0% on unemployment, so Wheaton, IL sits at one end of an already wide local range rather than apart from it. Wheaton, IL has the lowest unemployment of the 5 areas compared here.
| Area | Population | Median household income | Unemployment | Income inequality |
|---|---|---|---|---|
| Wheaton, IL | 45,588 | $117,814 #2/5 | 3.6% #1/5 | 0.6 #5/5 |
| Glen Ellyn, IL | 27,007 | $123,155 | 4.9% | 0.6 |
| Carol Stream, IL | 36,866 | $105,878 | 4.2% | 0.5 |
| Lisle, IL | 21,854 | $101,715 | 5.0% | 0.5 |
| Glendale Heights, IL | 23,187 | $92,202 | 5.1% | 0.5 |
Frequently Asked Questions
Common questions about income and wealth in Wheaton, Illinois.
How Rich Is Wheaton, Illinois?
Wheaton 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 $117,814, about 43% higher than the Illinois average of $82,179.
What is the current median household income in Wheaton, Illinois?
As of 2023, the median household income in Wheaton, Illinois is $117,814.
What was the median household income in Wheaton in 2023?
In 2023, the median household income in Wheaton, Illinois was $117,814.
What was the median household income in Wheaton in 2020?
In 2020, the median household income in Wheaton, Illinois was $104,510.
What is the Gini coefficient in Wheaton, Illinois?
The Gini coefficient in Wheaton is 0.573. 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 Wheaton, Illinois?
Since 2009, the income gap between men and women in Wheaton, Illinois has narrowed from about 38% to 33% in 2023. In dollar terms, the gap has widened by $4,428 since 2009.