Inverness, Glencoe, Lake Bluff: These cities aren’t just some of the best places to live in Illinois. They are also home to some of the richest people in the Prairie State.
Inverness in particular houses the richest residents in the state thanks, in part, to a median household income of $173,828 and a ridiculously low poverty rate of 0.7%.
If you’re thinking of moving to one of these towns, you’ll probably need to start saving. The richest places in Illinois share common characteristics such as having a genius level populous, sky high home prices, and a Pleasantville level of married couples.
How did we come up with these mega wealthy cities? We analyzed Census data from the 2013-2017 American Community Survey for the 332 places in Illinois with more than 5,000 people.
At the end of the day, here’s the set of the 10 richest places in Illinois for 2019:
- Inverness (Photos | Homes For Sale)
- Glencoe (Photos | Homes For Sale)
- Lake Bluff (Photos | Homes For Sale)
- Winnetka (Photos | Homes For Sale)
- Western Springs (Photos | Homes For Sale)
- Deerfield (Photos | Homes For Sale)
- Libertyville (Photos | Homes For Sale)
- Northbrook (Photos | Homes For Sale)
- Campton Hills (Photos | Homes For Sale)
- Hawthorn Woods (Photos | Homes For Sale)
For more on how we calculated the top ten, read on or skip to the end for the full list of the richest cities in Illinois.
Rich people not your cup of tea? Feel free to check out some more reading about Illinois:
How We Determined The Richest Places In Illinois For 2019
The first thing that comes to most people’s minds when they think about determining the richest places is to simply identify personal incomes. After all, rich people have really high salaries.
However, we don’t believe that one statistic wholly encompasses what it means to be one of the “richest places”. So we looked at this set of criteria from the newly released 2013-2017 American Community Survey:
- Poverty Level
- Median Household Income
- Unemployment Rate
Median household income is the most digestible way to understand how rich a place really is. The unemployment rate tries to capture the prospects for more people to become rich. If more people are employed, the richer the future looks.
After we collected the data for all 332 places with more than 5,000 people in Illinois, we ranked each place from 1 to 332 for each of the criteria, with 1 being the richest.
We then averaged all the rankings for a place into a “Rich Score” with the place having the lowest overall Rich Score, Inverness, crowned the “Richest City In Illinois For 2019”.
You can learn more about the top ten below or skip to the end to see the rankings for all 332 places.
Inverness is a suburban village in Cook County, Illinois, United States. The population was 7,399 at the 2010 census.
Glencoe (/lnko/) is a village in northeastern Cook County, Illinois, United States. As of the 2010 census, the total population was 8,723. Glencoe is located on Chicago’s North Shore and is located within the New Trier High School District.
Lake Bluff is a village in Shields Township, Lake County, Illinois, United States. The population was 7,469 as of 2015.
Winnetka (/wntk/) is a village in Cook County, Illinois, United States, located 16 miles north of downtown Chicago. The population was 12,187 at the 2010 census. The village is one of the wealthiest places in the nation in terms of household income, and the richest in Illinois.
Western Springs is a village located in Cook County, Illinois, United States and is a suburb of Chicago. As of the 2010 census, the village had a total population of 12,975. It is twinned with Rugeley, United Kingdom.
Deerfield is a village in Lake County, Illinois, United States, approximately 25 miles north of Chicago with a small portion extending into Cook County, Illinois. The population was 18,225 at the 2010 census, a decline of 175 from 2000.
Libertyville is a village in Lake County, Illinois, United States and a suburb of Chicago. It is located 5 miles (8 km) west of Lake Michigan on the Des Plaines River. The 2014 census population was 20,512. (There is also a township of the same name, which includes the village and some surrounding areas.) Located in northeastern Illinois, southwest of Waukegan and west of Lake Forest, its immediate neighbors are Mundelein to the west, Green Oaks, Mettawa, and Rondout to the east, Gurnee to the north, Grayslake to the northwest, and Vernon Hills to the south.
Northbrook is an affluent suburb of Chicago, located at the northern edge of Cook County, Illinois, United States.
There You Have It – The Wealthiest Places In Illinois For 2019
Like we said earlier, when we set out to identify the richest places in Illinois, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in Illinois.
When you look at the data, the cities and places mentioned above meet the criteria for being at the very top of the income ladder for everyone that lives there.
If you’re curious enough, here are the poorest cities in Illinois, according to data:
2nd Poorest: Harvey
3rd Poorest: East St. Louis
For more Illinois reading, check out:
- These Are The 10 Best Counties To Live In Illinois
- These Are The 10 Best Places To Retire In Illinois
- 10 Best Places To Raise A Family In Illinois
How Is The Area In ?
Detailed List Of The Richest Cities In Illinois
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