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 | Woodridge | Illinois Avg | US Average |
|---|---|---|---|
| Median Household Income | $99,748 | $82,179 | $78,145 |
| Median Personal Income | $71,447 | $65,365 | $61,726 |
| Average income growth | 3.7% | 4.8% | 5.1% |
| Six-Figure Earners | 18.1% | 14.4% | 13.2% |
The median household income in Woodridge is about 21% higher than in Illinois. Income has been growing slower in Woodridge (3.7%/yr) than in Illinois (4.8%/yr).
About 18% of adults in Woodridge 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 Woodridge, Illinois grew by 41.6% from 2009 to 2023, reaching $99,748 in 2023. That's an average of about 3.7% per year.
Economic Inequality in Woodridge | Gender Pay Gap | Gini Coefficient
| Metric | Woodridge | Illinois Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.534 | 0.567 | 0.570 |
| Male Median Income | $75,575 | $72,139 | $67,746 |
| Female Median Income | $66,742 | $58,023 | $54,793 |
| Gender Pay Gap | 11.7% | 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 Woodridge, it is 0.534, 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 13% more than women's income in Woodridge, Illinois. Over a 35-year career, a 13% wage gap accumulates to roughly $309,155 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Woodridge, Illinois has narrowed from about 29% to 12% in 2023. In dollar terms, the gap has narrowed by $8,671 since 2009.
Employment
| Metric | Woodridge | Illinois Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.6% | 5.8% | 5.2% |
| Working from Home | 18.1% | 14.0% | 13.4% |
| Commute time (minutes) | 27 | 23 | 22 |
Approximately 854 people are unemployed in Woodridge, Illinois.
The average commute time in Woodridge is 27 minutes, longer than the 23 minutes in Illinois.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Woodridge, Illinois has fallen from 8.1% to 4.6% in 2023.
Conclusion
Considering all these factors, Woodridge, Illinois has an overall wealth index grade of B, making it somewhat better than Illinois, and somewhat better than the country as a whole.
Woodridge, IL Wealth Compared With Nearby Cities
Woodridge, IL is the 3rd largest of the 6 cities compared here, 31,506 residents against a local median of 23,160. There is no headline here. Every measure below sits within 15% of the median across the nearest cities, which makes Woodridge, IL an unremarkable member of its own neighbourhood rather than an outlier in it.
The largest of those small differences is unemployment, 4% above the local median at 4.6% against 4.5%. Woodridge, IL has the 4th lowest unemployment of the 6 areas compared here.
| Area | Population | Median household income | Unemployment | Income inequality |
|---|---|---|---|---|
| Woodridge, IL | 31,506 | $99,748 #6/6 | 4.6% #4/6 | 0.5 #2/6 |
| Darien, IL | 21,280 | $103,444 | 4.2% | 0.5 |
| Downers Grove, IL | 50,363 | $112,966 | 4.5% | 0.5 |
| Lisle, IL | 21,854 | $101,715 | 5.0% | 0.5 |
| Bolingbrook, IL | 75,045 | $107,252 | 4.9% | 0.6 |
| Westmont, IL | 23,160 | $101,909 | 3.5% | 0.6 |
Frequently Asked Questions
Common questions about income and wealth in Woodridge, Illinois.
How Rich Is Woodridge, Illinois?
Woodridge 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 $99,748, about 21% higher than the Illinois average of $82,179.
What is the current median household income in Woodridge, Illinois?
As of 2023, the median household income in Woodridge, Illinois is $99,748.
What was the median household income in Woodridge in 2023?
In 2023, the median household income in Woodridge, Illinois was $99,748.
What was the median household income in Woodridge in 2020?
In 2020, the median household income in Woodridge, Illinois was $89,224.
What is the Gini coefficient in Woodridge, Illinois?
The Gini coefficient in Woodridge is 0.534. 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 Woodridge, Illinois?
Since 2009, the income gap between men and women in Woodridge, Illinois has narrowed from about 29% to 12% in 2023. In dollar terms, the gap has narrowed by $8,671 since 2009.