These Are The Midwest's 5 Wealthiest Suburbs, According To Research

Where are the wealthiest suburbs in America? You might first assume the answer is New York City, Los Angeles, or Boston. You'd be partially right: a 2025 study from GOBankingRates ranked the wealthiest suburbs in America, and suburbs of those three cities are all prominently featured on the list. However, wealthy suburbs aren't limited to the East and West Coasts. The GOBankingRates study shows that wealthy suburbs exist around the United States, including in the Midwest.

To compile its list, GOBankingRates looked at cities with at least 5,000 households and found the 50 with the highest average household income. Then, it looked at the 2024 typical home value and metro area to decide each suburb's rank. In addition to the national list, it compiled regional lists, including a list of the 20 wealthiest suburbs in the Midwest. Within the Midwest, Illinois was home to more wealthy suburbs than any other state: nine of the top 20 wealthiest suburbs in the Midwest are in the Chicago area. Interested in learning more? Here's a look at the five wealthiest suburbs in the Midwest.

The North Shore Chicago suburb of Highland Park is the fifth-wealthiest in the Midwest, with an average household income of $247,484 and a typical home value of $805,393. Located about 40 minutes from Chicago by car, Highland Park was established in the 1860s and today has a population of around 31,000 people. In the '80s, it had a moment in the spotlight as the setting for the John Hughes movies "Ferris Bueller's Day Off" and "Weird Science."

In addition to its wealth, Highland Park is known for its artsy environment; it's home to America's oldest music festival and has a lively downtown full of events. The Ravinia Festival is more like a seasonal concert series: each summer, the festival hosts over 100 different events in a variety of music genres, including the Chicago Symphony Orchestra. One of the suburb's top landmarks is Rosewood Beach, a scenic beach on the shores of Lake Michigan. "This beach is small, clean, and beautiful," writes one Tripadvisor reviewer. "You'll forget that you're even in Illinois!"

Leawood is the only place in Kansas to rank among the top 20 wealthiest suburbs in the Midwest. Leawood is a suburb of Kansas City; the average household income is $257,427, and the typical home value is $766,743. Leawood is about a 30-minute drive from Kansas City and has a population of around 34,000. Notable residents include football star (and Taylor Swift's fiancé) Travis Kelce.

Locally, Leawood is known as an upscale suburb that blends boutique shops, top restaurants, and trails through lush parks. On Tripadvisor, Leawood's top attraction is Park Place, a shopping district where you'll find popular stores and restaurants around a central green space. In addition to shopping and dining, Park Place often hosts community events such as 5Ks and summer concerts. From November to March, there's an outdoor ice rink. "When the weather is nice I enjoy taking breaks just walking or sitting on the greens there. They have comfy Adirondack chairs, green grass to put your toes in to relax in the sun or shade," writes one Tripadvisor reviewer. "There's a fountain so the sound of the trickling waters is soothing... Love this area very much."

Another North Shore Chicago suburb, Wilmette, takes the No. 3 spot in the Midwest and the No. 40 spot in the country. The average household income in Wilmette is $291,930, and the typical home value is just under $1 million, at $994,455. Wilmette's population is around 28,000, and the suburb is a little over 30 minutes from Chicago. Locally, Wilmette is known as an easy-going suburb with indie shops and storybook streets.

Like Highland Park, Wilmette is adjacent to Lake Michigan. Residents and visitors can enjoy the lakeshore at Gillson Park, a 60-acre park featuring two swimming beaches, sports fields, and kayak and sailboat rentals. One Google reviewer calls it "one of the most beautiful beaches near North Chicago," adding, "It is big and feels more peaceful and away from the city rush." Nearby, you'll see the Bahá'í House of Worship, the only Bahá'í temple in North America. The ornate building, featuring a dome that sits 135 feet above the ground floor, was constructed from 1920 to 1953 and has won many design awards — as well as a spot on the National Register of Historic Places.

Yet another North Shore Chicago suburb, Lake Forest is the second-wealthiest suburb in the Midwest and ranks No. 30 across the entire country. The average household income is $302,171, and the typical home value is $1,180,618. The population is around 19,000 residents, and the suburb is about a 45-minute drive from Chicago. Thanks to its large estates and scenic surroundings, Lake Forest has been the site of many movies, including "Ordinary People," "Uncle Buck," and "Ocean's Twelve."

On Tripadvisor, Lake Forest's top attraction is Market Square. Opened in 1916, Market Square is known as the first planned shopping center in the United States. Today, the square is home to popular restaurants and shops as well as a central green space and community events. "Market Square is an absolute gem featuring great boutique shops, family dining, a legendary sports bar, and fabulous architecture," writes one Tripadvisor reviewer. "If you need to kill a few hours, take the train to the East Lake Forest stop and walk the shops." Like its fellow North Shore suburbs, Lake Forest is also home to a Lake Michigan beach: Forest Park Beach, a 29-acre park with a swimming beach, boat ramp, and fishing pier.

The wealthiest suburb in the Midwest is Hinsdale, Illinois, with an average household income of $376,366 and a typical home value of $1,241,734. In addition to being the wealthiest suburb in the Midwest, Hinsdale is one of the wealthiest suburbs in the country. It comes in at No. 7 on GOBankingRate's list of the 50 wealthiest suburbs in America, between Great Falls, Virginia, and University Park, Texas.

Unlike the other Chicago suburbs on this list, Hinsdale is not on the North Shore or near Lake Michigan; instead, it's a western suburb. Hinsdale is about an hour drive from Chicago, and it's home to a population of about 17,000 people. It's known for its picturesque downtown, good eats, and friendly community. On Tripadvisor, the top attraction is the Meadowlark Golf Course, a nine-hole public golf course that opened in 1965. "Meadowlark is a gorgeous public course," writes one Tripadvisor reviewer.

This list is based on GOBankingRates research from 2025, compiled in two lists: the 50 wealthiest suburbs in America and the 20 wealthiest suburbs in the Midwest. To compile the ranking, GOBankingRates looked at cities with at least 5,000 households and found the 50 cities with the highest average household income, according to the 2022 American Community Survey. It also looked at the typical home value via Zillow.