Lincoln Park is the eleventh community area and neighborhood within Chicago, Illinois, located on the north side of the city. The population of Lincoln Park is 57,812, with a higher than average concentration of households with higher incomes. The average household income in Lincoln Park is $106,941, making it one of the highest-income neighborhoods in Chicago.
The median household income for Lincoln Park is $102,924, which is slightly higher than the median household income for the city of Chicago, which is $74,647. This is in part due to the higher concentration of high-income households in the area.
The median home value in Lincoln Park is $637,400, which is significantly higher than the median home value of the city of Chicago, which is $250,000. This is in keeping with the higher median household income in the area.
The cost of living in Lincoln Park is significantly higher than the average cost of living in Chicago, with the average cost of living index for the area being 120.5, compared to the Chicago average of 100. This is due to the higher cost of housing, transportation, and other necessities in the area.
Lincoln Park is an affluent neighborhood in Chicago, with a higher-than-average median household income and a higher-than-average median home value. The cost of living in the area is higher than the average for Chicago, making it an expensive place to live.
What is the Average Income in Lincoln Park, Chicago?
Lincoln Park, Chicago, is a vibrant and affluent area located on the city’s North Side. It is known for its lush park, diverse restaurants, and some of the best schools in the city. With the area’s popularity, it is no surprise that the median income of Lincoln Park is also high.
According to the latest census data, the median income of Lincoln Park is $72,828. This number is higher than the median income in other Chicago neighborhoods and significantly higher than the median income of the city as a whole. The median income is also higher than the national median income, which is $60,293. Nearly 33% of households in Lincoln Park earn more than $100,000.
The table below provides a breakdown of the median household incomes of different areas in Chicago:
| Neighborhood | Median Household Income |
|---|---|
| Lincoln Park | $72,828 |
| Chicago | $60,858 |
| Illinois | $59,588 |
| US | $60,293 |
Though the median income of Lincoln Park is higher than other areas in Chicago, it is not the highest in the city. The area with the highest median income is Streeterville, where the median income is $113,865. It is followed by the Loop, with a median income of $83,829, and River North, with a median income of $76,379.
What is the Typical Salary in Lincoln Park, Chicago?
Lincoln Park is one of the most popular neighborhoods in Chicago, and with that comes some really nice salaries. In fact, the median household income in Lincoln Park is $98,851. This is significantly higher than the national median household income of $61,937.
When it comes to individual salaries, the typical salary in Lincoln Park is about $56,921 per year. This is based on the median wages reported to the US Bureau of Labor Statistics from the 2019 American Community Survey. The average salary for all occupations in Lincoln Park is $78,205.
The top three industries for employment in Lincoln Park are professional, scientific and technical services (20.4%), health care and social assistance (14.6%), and accommodation and food services (6.3%). The majority of the population (72%) is employed in white-collar occupations, while the remaining 28% are employed in blue-collar occupations.
One of the key factors contributing to the high median salaries in Lincoln Park is the number of high-paying jobs located in the neighborhood. There are many large corporations based in the area, including Google, Loyola University, and Northwestern University. Additionally, many large law firms are based in the neighborhood, providing a steady stream of well-paying jobs.
If you are looking to make more money in Lincoln Park, there are a few options available. The first option is to take on a higher-level position in a larger company. These positions typically come with higher salaries and more benefits. The second option is to start your own business, as many entrepreneurs have done in the area. Finally, you could look into freelancing, which can be a great way to make more money in the neighborhood.
In conclusion, the typical salary in Lincoln Park is $56,921, which is significantly higher than the national median. What’s more, there are many opportunities to increase your salary even further. Whether you are looking for an established job or want to pursue entrepreneurship, you will find plenty of options in the neighborhood.
The average household income in Lincoln Park is $103,212, according to the U.S. Census Bureau.
The primary sources of income in Lincoln Park are professional and managerial occupations, followed by business owners and self-employed workers.
The median household income in Lincoln Park is $94,875, according to the U.S. Census Bureau.
The poverty rate in Lincoln Park is 8.6%, according to the U.S. Census Bureau.
The median home value in Lincoln Park is $649,400, according to the U.S. Census Bureau.
The unemployment rate in Lincoln Park is 3.3%, according to the U.S. Census Bureau.
The median household income in Lincoln Park is higher than the median household income of the city of Chicago overall, according to the U.S. Census Bureau.
The average household size in Lincoln Park is 2.08, according to the U.S. Census Bureau.
The crime rate in Lincoln Park is higher than the Chicago citywide average, according to the Chicago Police Department.
The median age of residents in Lincoln Park is 33.7, according to the U.S. Census Bureau.