Which IL city is adding the most high-income households? It’s 27th in the US
An Illinois city with about 152,000 residents is the state’s top locale for growth in high-income households, according to a recent report.
The Jan. 29 analysis from financial website SmartAsset, “Cities Adding the Most High-Income Households – 2026 Study,” named Joliet the 27th city among 357 nationwide for percent growth in high-income households, and it was the top-performing city in Illinois.
“Our city is investing heavily in improving the quality of life for our residents, including significant infrastructure upgrades, new economic and housing development, and a greater commitment to culture and entertainment,” Joliet City Manager Beth Beatty wrote in an emailed statement to the News-Democrat. “The influx of new residents is proof that our work continues to make Joliet a terrific place to live, work and play.”
SmartAsset calculated the change in high-income households, defined by the U.S. Internal Revenue Service as earning $200,000 or more per year, from 2023 to 2024, using the latest U.S. Census Bureau data.
The report also evaluated seven other Illinois cities, but they didn’t perform quite as well, with Elgin in 64th, Springfield in 70th, Chicago in 141st, Naperville in 240th, Aurora in 314th, Rockford in 316th and Peoria near the bottom, at 331st place.
Joliet saw a 53.5% increase in the number of high-income households from 2023 to 2024, the report found. Waterbury, Connecticut, landed in first place nationally, with a 271.4% growth in high-income households.
Here’s what else to know about Joliet’s performance in the SmartAsset analysis:
- Number of high-income households in 2023: 3,728
- Number of high-income households in 2024: 5,367
- Portion of households that were high income in 2023: 7.1%
- Portion of households that were high income in 2024: 10.9%
- Median household income in 2023: $86,054
- Median household income in 2024: $103,163
Joliet is located partly in Will County and partly in Kendall County, which are both among the state’s top 10 wealthiest counties. Both counties are also among the top five in Illinois for population growth between 2020 and 2024.
Kendall County saw by far the greatest increase in residents statewide, at 8.18%, and Will County came in fifth for overall population growth, at 1.68%.
The housing market in Joliet is considered “somewhat competitive,” according to real estate company Redfin. Homes receive an average of three offers and typically sell in around 64 days, with a median sale price of $299,900 as of December.
While Joliet has a higher median household income than the statewide figure, at $92,201 compared to Illinois’ $83,390, its per capita income is less than the state’s. The Census Bureau reports Joliet has a per capita income of $36,812, while Illinois’ is $46,406. These income figures were calculated from 2020 to 2024, in 2024 dollars.
The city also has a slightly lower poverty rate than Illinois as a whole, at 11.1% compared to 11.6%.
Typical per capita incomes in Joliet are not enough to affordably rent an average one-bedroom home in the city. The National Low Income Housing Coalition reports a resident of 60535, one of the ZIP codes encompassing Joliet, would need to earn $56,804.80 to afford a typically priced, one-bedroom rental.
Top US cities for high-income household growth
Here’s how the top 20 cities in the U.S. compared for growth in high-income households, according to SmartAsset:
1. Waterbury, Conn.: 271.4% growth in high-income households from 2023 to 2024
2. Inglewood, Calif.: 88.9%
3. Montgomery, Ala.: 82.6%
4. Menifee, Calif.: 82%
5. Albany, N.Y.: 72.1%
6. Beaumont, Texas: 71.8%
7. Lakeland, Fla.: 71.4%
8. Columbia, Mo.: 68.8%
9. Brandon, Fla.: 68.8%
10. Odessa, Texas: 68.8%
11. Independence, Mo.: 68.2%
12. West Covina, Calif.: 67.9%
13. Surprise, Ariz.: 65.5%
14. Laredo, Texas: 63.9%
15. Santa Maria, Calif.: 63.6%
16. South Fulton, Ga.: 62.7%
17. East Los Angeles, Calif.: 60.9%
18. College Station, Texas: 60.8%
19. Paterson, N.J.: 60%
20. Conroe, Texas: 59.7%
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