If you’ve recently come into money, you may be considering where best to spend it. Perhaps your current home town is lacking the desirability factor and a move to a city more befitting of your new status may be in order.
If so, you may want to consider one of these famously wealthy Illinois hot spots. The schools are excellent, the amenities are bountiful, the streets are swept, and the median incomes are sky-high.
Take your wealth and yourself to any one of our rundown of the 10 richest cities in Illinois… you’re unlikely to regret it.
10. Hawthorn Woods
Abundant parks, numerous amenities, a wealth of great schools, and a booming job market… if any or all of these are on your wish list, you may want to take a second look at Hawthorn Woods, a city so prosperous the majority of its residents are sitting pretty on incomes of $168,224.
The flipside? The cost of living in this highly desirable Illinois enclave is one of the highest in the state, with the average property selling for around $542,300 and the average rental property going for a truly outlandish $3,501.
9. Campton Hills
Campton Hills… a city of 11,386 residents all enjoying a median income that, at $131,658, is more than twice the national average.
The abundant ranges of shops, cultural activities, restaurants, and nightspots provide plenty of places for the cash-rich residents to splash their wealth… if they have any left after paying the $417,700 it takes to buy a property here, or the $1953 it takes to rent one.
Not all of Northbrook’s 33,591 residents are dripping in bling, but with most of them earning around $119,568, it’s fair to assume at least some of them are.
Crime rates lean towards the lower end of the spectrum, the schools lean towards the upper end, and the amenities are just what you’d expect from one of the most desirable cities in Illinois.
Before you start to get too jealous, you might want to consider what Illinois’ upper echelons have to spend to live here: for the average resident of the city, rent is a whopping $2036. Property prices are even more staggering, with the median home weighing in with a mammoth value of $517,700.
It may cost you $425,800 to buy a single-family home in the lovely Libertyville, but you’re unlikely to regret the investment.
The education system is one of the best in the state, the downtown is quaint, charming, and full of unique boutiques and shops, and the booming job market is doing fine work at keeping local residents in incomes of $126,406.
Need any more convincing to offload your life savings on a prime piece of Illinois real-estate? Then check out some of the glowing reviews on Niche, where one Libertyviller, in particular, can’t seem to sing her city’s praises highly enough: “Downtown Libertyville is quaint & charming.
This is a town that could have died when a huge mall was built a few miles away back in the late '70s. But, it didn't. It started bringing in restaurants and specialty shops, concerts in the park, farmer's markets, lunch in the park, and sorts of entertainment to appeal to both a family and a sophisticate.
The architecture styles appeal to every taste, and many vintage homes are being restored to their original beauty and magnificence. Come see for yourself!”
If you don’t mind moving to a city where the average price of property is $505,500, and the average rental price is $1,768, you may want to consider a move to the rather delightful Deerfield.
As one of the most desirable (and elite) places in Illinois to live, you can expect a quality of life that far exceeds the US average in all respects: supremely low unemployment, almost no poverty, superlative amenities, superb schools, and a job market so booming it can support a whopping median household income of $142,621.
5. Western Springs
Want to earn $150,880? Then you may want to consider a move to Western Springs, a city rich in affluent residents, world-class schools, superb public amenities, and excellent infrastructure, and almost utterly devoid of crime, poverty, or unemployment.
The price to live in such a fabulous location? Just $553,300 if you want to buy, and an eminently reasonable $1,784 if you want to rent…
4. Lake Bluff
The fabulously wealthy Lake Buff is home to some of the richest people in Illinois…. and it needs to be. With the average single-family home selling for a massive $603,300 and the average rental property marketing for $1490, residents need every cent of their $160,417 incomes.
Excellent schools, a highly educated citizenship (40% have a bachelor’s degree, while another 39% have a master’s), a low crime rate, and unemployment and poverty rates that may as well be non-existent complete the very attractive picture.
Inverness may only by home to 7,962 residents, but this small city has the wealth of a city twice its size. Thanks to a tiny unemployment rate of 3.1%, and an equally low poverty rate of 3.2%, the city is positively bursting at the seams with affluence.
The median income sits at a hefty $173,828, while the median home value comes in at a giant $621,900. Rent, meanwhile, is a lofty $2,684. As you’d expect of such a desirable location, the school system is stellar, the amenities are bountiful, and the crime is basically non-existent… if you can afford the price of moving in, we doubt you’ll have any complaints.
If you want to rub shoulders with Illinois’ elite, you’ll get few better opportunities to do so than at Glencoe. Voted by Niche as the 9th best place in the state to raise a family, this exclusive district comes with everything you’d expect of such a desirable residency:
A well-funded school system, exceptional amenities, a great infrastructure, a well-educated citizenship, and an incredible median income of $203,23. The price to pay for such an attractive list of features? A rather substantial $940,600 for a single-family home…
Winnetka regularly features in lists of the best places to live in Illinois, and with a great range of amenities, an abundance of local boutiques, a flourishing arts scene, and some of the best schools in the state, it’s easy to see why.
The growing population tends to consist of the kind of “social climbers” that have flooded the city with money, pushing the average home price to an unfeasibly high $1,019,800, the average rental price to an equally staggering $1,931, and the median household income to an envy inducing $216,875.
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Written by Allen Lee
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