Hinsdale was ranked as the nation’s 11th wealthiest suburb in a recently-released ranking by financial technology and mobile banking company MoneyLion.
That’s down a notch from a year ago, when Hinsdale was listed among the top 10 wealthiest suburbs, as ranked by GoBankingRates, which collaborates with MoneyLion on content and shares a parent company.
Eligible municipalities in the recent MoneyLion ranking were required to have at least 5,000 households and be part of a metropolitan statistical area, without being a principal city.
The top 50 list included a few different measures, such as home value, but based its wealthiest criteria on average household income.
Hinsdale’s No. 11 ranking was based on an average household income of $367,874, making it the only Illinois suburb among the top 30. The only other Illinois towns in the top 50 were Lake Forest, 35th, $303,251; and Wilmette, 36th, $300,005.
The top 10 wealthiest suburbs on the list were:
1. Scarsdale, New York, $612,591
2. West University Place, Texas, $439,594
3. Rye, New York —, $428,806
4. Los Altos, California, $417,182
5. Paradise Valley, Arizona, $408,500
6. University Park, Texas, $407,253
7. Alamo, California, $401,221
8. Southlake, Texas, $384,530
9. McLean, Virginia, $379,689
10. Orinda, California, $376,741
Hinsdale Village President Greg Hart said any national recognition shines a spotlight on the village, but doesn’t change the priorities.
“Our responsibility is to continue providing excellent services, investing in our infrastructure, supporting our local businesses, and preserving the character of the community that residents value,” he said.
Hart said Hinsdale is defined by far more than household income.
“Rankings often focus on a single metric, but they can’t capture what it’s actually like to live here,” he said. “It’s a community where neighbors know one another, families put down roots, volunteers give back, businesses invest locally, and residents care deeply about the future of the village.”
While Hinsdale generally is perceived as an affluent community, both in and outside the village, Hart said that isn’t something that really comes up in conversations with residents.
“Most conversations I have with residents are about the things that affect everyday life, such as public safety, parks, infrastructure, traffic, our downtown, and maintaining the high quality of services people expect,” he said.
“We’re proud of the community we’ve built, but I don’t think residents measure Hinsdale’s success by where it appears on a national list. They measure it by whether it’s a welcoming place to raise a family, build a business, and enjoy a high quality of life. We are all those things, and that’s what we’re focused on maintaining and building upon every day.”
Chuck Fieldman is a freelance reporter for Pioneer Press.
