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These three Chicago suburbs are among the wealthiest in America

Hinsdale, Lake Forest and Wilmette have the highest average household incomes.

Jeffy Mai
Written by
Jeffy Mai
Editor, Time Out Chicago
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Photograph: Shutterstock
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With amazing restaurants, endless things to do and a summer festival season that’s jam-packed with events, it’s no secret that living in Chicago is the best. Of course, such benefits come at a cost, which is why it shouldn’t come as a surprise that three Chicago suburbs are among the wealthiest in the U.S.

A new report by GOBankingRates, a personal finance website, looked at suburbs with at least 5,000 households and ranked the top 50 by average household income. The 2024 typical home values—using data provided by Zillow—factored into the list as well.

Hinsdale is the wealthiest suburb in Illinois, coming in at No. 7. The average household income is $380,479, and the typical home value is $1,088,871.

Lake Forest is the next Chicago suburb on the list, landing at No. 30. The average household makes $284,784, and the typical home is valued at $1,097,029.

Finally, Wilmette is No. 40 with an average household income of $273,718 and typical home value of $896,128.

GOBankingRates also released a report in April detailing how much income a household has to earn to be considered “rich” (top 20%). In Chicago, that number is $155,644. On average, households in the top 20% make $299,962; households in the top 5% earn $564,032, which ranks No. 16 in the country.

Check out the full list of the 50 wealthiest suburbs in America below.

  1. Scarsdale, New York
  2. Rye, New York
  3. West University Place, Texas
  4. Los Altos, California
  5. Paradise Valley, Arizona
  6. University Park, Texas
  7. Hinsdale, Illinois
  8. Great Falls, Virginia
  9. Orinda, California
  10. Wellesley, Massachusetts
  11. Palm Beach, Florida
  12. McLean, Virginia
  13. Southlake, Texas
  14. Palos Verdes Estates, California
  15. Saratoga, California
  16. Menlo Park, California
  17. Lafayette, California
  18. La Cañada Flintridge, California
  19. Los Gatos, California
  20. Pinecrest, Florida
  21. Mill Valley, California
  22. Wolf Trap, Virginia
  23. Palo Alto, California
  24. San Carlos, California
  25. Bellaire, Texas
  26. Summit, New Jersey
  27. Tenafly, New Jersey
  28. Mercer Island, Washington
  29. Potomac, Maryland
  30. Lake Forest, Illinois
  31. Winchester, Massachusetts
  32. Cupertino, California
  33. Westfield, New Jersey
  34. Bethesda, Maryland
  35. Lexington, Massachusetts
  36. Manhattan Beach, California
  37. Garden City, New York
  38. Ridgewood, New Jersey
  39. Greenwich, Connecticut
  40. Wilmette, Illinois
  41. Princeton, New Jersey
  42. Needham, Massachusetts
  43. Mountain Brook, Alabama
  44. Vienna, Virginia
  45. Danville, California
  46. Dix Hills, New York
  47. Sammamish, Washington
  48. Moraga, California
  49. Calabasas, California
  50. Harrison, New York
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