Is Evanston, IL wealthy?
Yes, Evanston, IL is widely recognized as a wealthy community. It has been rated among the wealthiest towns in the Midwest, signifying a high standard of living and significant economic prosperity for its residents.
Key Economic Indicators of Wealth in Evanston
Evanston's status as a wealthy area is supported by several key financial metrics that reflect its economic health and the affluence of its households.
Evanston, IL – Financial Snapshot (Based on 2016 Data)
| Indicator | Value |
|---|---|
| Midwest Wealth Ranking | 4th Wealthiest Town |
| Median Household Income | $73,671 |
| Median Home Value | $315,600 |
| Homes with No Mortgage | 28% |
These figures collectively paint a picture of a community with substantial financial resources. The median household income of $73,671 indicates a strong earning capacity among its residents. Furthermore, the median home value of $315,600 highlights a robust real estate market, often associated with affluent areas. The fact that 28 percent of homes have no mortgage also points to a significant level of financial stability and accumulated wealth among homeowners, reducing long-term debt burdens.
Evanston's consistent recognition as one of the wealthiest towns in the Midwest underscores its economic strength and desirable living conditions.
