According to a new ranking released by a personal finance website, Hinsdale ranks among the wealthiest suburbs in the United States. It was the only area town to crack the top 10, coming in 8th in the list compiled by GOBankingRates, a personal finance resource site.
According to the listing, to qualify as a suburb, places had to have at least 5,000 households and be a part of a Metropolitan Statistical Area while not being the area’s principal city. The top 50 suburbs were ranked by their household mean income as of July 1.
Hinsdale’s mean household income of $376,366 put it in 8th place, while only two other Chicago suburbs made the top 50 — Lake Forest at 31st with a mean income of $302,171 and Wilmette at 37th with an income of $291,930. The wealthiest suburb in the country, according to the rankings, was Scarsdale, New York, at $601,193.
Hinsdale village President Greg Hart said the ranking may increase interest in Hinsdale, but the long-term appeal of the village lies in the foundation that has been built.
“While the ranking may bring some extra attention to Hinsdale, people move here because of the great schools, strong community, excellent parks, a thriving downtown and focus on public safety,” he said.
“We’re committed to being a welcoming community for anyone who wants to make Hinsdale their home, regardless of their background. We’ve worked hard to create a place that not only thrives economically, but also values community spirit and a high quality of life.”
Hart said the priority remains on ensuring that Hinsdale continues to be a great place for everyone who calls it home or operates a business in the village.
“We want to keep building a community that stands the test of time,” he said.
Village Board member Matt Posthuma said he has seen the rankings and has had a few people mention it to him.
“There are obviously many ways you can calculate wealth: income, net worth, housing prices, mean vs. median, etc.,” he said. “Hinsdale has long been viewed as a fine place to live and raise a family, (with) excellent schools, on the train line to the city, close to O’Hare and Midway airports. I don’t think the ranking changes that perception.
“There are many other Chicago suburbs that can make similar claims, including our neighboring communities and the North Shore. If the ranking helps someone who is moving to the area, or out of the city, decide to come to Hinsdale, that is a good thing.”
Mike McCurry, of Mike McCurry Group, has been selling real estate in the area for the past 35 years and said Hinsdale’s ranking is positive news.
“People like to be around other people like them,” he said. “When they see news like this pop up in their feeds, it pre-qualifies the town for them.”
Village Board member Neale Byrnes said he had not been not aware of the rankings, but wasn’t surprised when learning of it.
“I’ve seen similar rankings in the past,” he said “I don’t think this ranking affects Hinsdale appreciably. Hinsdale has always been known as one of the premier suburbs in the greater Chicagoland area and fairly wealthy.”
Byrnes said the village is known for its quiet, tree-lined streets, charming downtown, impressive housing stock, excellent schools and attention to historic preservation.
“I don’t think this ranking will change people’s perception of Hinsdale to any great extent, as the village is already viewed very positively,” he said.
Chuck Fieldman is a freelance reporter for Pioneer Press.
