To qualify for the ranking, cities were required to have at least 5,000 households and be part of a defined metropolitan area. The primary factor for ranking was the average household income as of 2023. While changes in home values were also analyzed, they were not directly used in determining the rankings. All three of these Illinois suburbs were also included in the previous year’s report, showing sustained economic strength and wealth concentration.
Hinsdale placed eighth on the national list, with an average household income of $376,366 in 2023. While this marked a slight decrease of 4.3% from the previous year, Hinsdale saw its 2025 home values climb to $1,234,894, a nearly 8% increase. This suburb continues to draw families and professionals looking for luxurious homes, high-performing schools, and a charming community atmosphere.
Lake Forest ranked 31st for 2025, with household incomes averaging $302,171 in 2023, a 2.7% increase from 2022. Home values in Lake Forest reached $1,185,363 in 2025, also showing solid appreciation. Known for its historic architecture, lakefront properties, and extensive green space, Lake Forest remains a symbol of suburban affluence and prestige in the Midwest.
Wilmette rounded out the trio, ranking 37th on the list. It posted an average household income of $291,930 in 2023, representing a 3.2% increase over the previous year. Home values for 2025 averaged just under $1 million at $999,547, up nearly 7% from the year prior. Located on the North Shore of Chicago, Wilmette combines suburban comfort with easy city access, making it a popular choice for wealthy professionals and growing families.
Nationally, suburbs from New York, Texas, California, and Massachusetts also featured prominently on the top 10 list. For the second year in a row, a New York suburb claimed the number one spot with the highest average household income in the nation. California had the most suburbs in the top 50, followed closely by Texas, demonstrating that wealth is heavily concentrated in coastal and southern states. However, Illinois stood out in the Midwest with its three high-ranking entries, reflecting the economic strength of certain Chicago-area communities.
The study reflects a broader trend of suburban wealth concentration, where well-established neighborhoods continue to attract high-income residents thanks to quality infrastructure, top-tier education, and desirable housing markets. While not immune to national economic shifts, Hinsdale, Lake Forest, and Wilmette have proven resilient in maintaining their affluence.
These three suburbs serve as prime examples of long-term economic stability and upward mobility. Their consistent appearance in rankings of the wealthiest places to live underscores their status as premier residential destinations not only in Illinois but across the country. As household incomes remain strong and real estate values continue to rise, these communities are expected to remain among the nation's elite suburbs for years to come.
