3 IL Suburbs Among 50 Wealthiest In America

ILLINOIS — Wealthy people seeking a lifestyle away from cities like New York, Los Angeles, Chicago and Miami and gentrifying suburbs, including three in Illinois.

Suburbs on the GOBankingRates ranking of America’s 50 Wealthiest Suburbs include:

Hinsdale, a suburb of Chicago (No. 7)

• Average household income: $380,479
• Typical home value: $1,088,871
• According to Zillow.com, the most expensive home currently on the market in Hinsdale is selling for $5,995,000. Built in 1924, the six bedroom, 7 bathroom features a stucco facade.

Lake Forest, a suburb of Chicago (No. 30)

• Average household income: $284,784
• Typical home value: $1,097,029
• According to Zillow.com, the most expensive home currently on the market in Lake Forest is selling for $27,500,000. Built in 2019, the six-bedroom, nine-bathroom home covers 15,000-square-feet and features Lake Michigan frontage.

Wilmette, a suburb of Chicago (No. 40)

• Average household income: $273,718
• Typical home value: $896,128
• According to Zillow.com, the most expensive home currently on the market in Wilmette is selling for $3,295,000. With five bedrooms and six bathrooms, the 8,200-square-foot is a "distinguished" farmhouse that had been expanded and updated.

GOBankingRates, a personal finance website, compared the household income of cities with 5,000 or more households and isolated the 50 with the highest average household income. The typical 2024 home value was also considered.

Among key findings:

• The wealthiest U.S. suburb is Scarsdale, New York, where the average household income is $568,942. The typical home value in Scarsdale is $1.4 million.
• California dominated the ranking, with 16 suburbs in the top 50. The five most expensive California suburbs are Los Altos ($400,000), Orinda ($370,000), Palos Verdes Estates ($342,000), Saratoga ($329,000) and Menlo Park ($316,000).
• The East Coast took the lead with 23 wealthy suburbs, including five in New York and five in New Jersey, making the top 50 ranking. In second place is the West Coast with 19 suburbs.