This section shows the ZIP code 61316 Illinois economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, 61316 depicts it has a Median earnings of $57,250 which is the second most median earnings of all the zip codes in the greater ZIP code 61316 region. The zip code with the highest median earnings per worker in the area is 61340 which depicts a median earnings of $58,177 ( only slightly larger). Comparing median earnings per worker to the United States average of $53,269, ZIP code 61316 is 7.5% larger. Also, versus the state of Illinois, median earnings per worker of $56,393, ZIP code 61316 is only slightly larger.
In Figure 2 a more complete view of income is shown which aggregates income from all members in the household and it has a Median household income of $63,750 which is the third most median income of all other zip codes in the greater ZIP code 61316 region. The zip code with the highest median household income in the area is 61370 which shows a median income of $76,053 (19.3% larger). Comparing median household income to the United States average of $69,021, ZIP code 61316 is about 8.3% smaller. Also, benchmarked against the state of Illinois, median household income of $72,563, ZIP code 61316 is about 13.8% smaller.
The next section examines a variety of different income statistics for the ZIP code 61316 metropolitan area. In Figure 3 we see that it has the smallest proportion of earnings between $15,000 and $19,999 at 26.4% of the total. Second, it has the largest proportion of earnings between $20,000 and $49,999 at 28.2% of the total and is ranked #1. Third, it has the smallest proportion of earnings between $50,000 and $74,999 at 7.4% of the total. Dividing median annual worker earnings by the average number of hours worked in a year in Figure 4 shows that it has a Avg Hrly Earnings of $29.36 which is at the top of all other zip codes in the greater ZIP code 61316 region. Comparing average hourly earnings to the United States average of $26.40, ZIP code 61316 is 11.2% larger. Also, versus the state of Illinois, average hourly earnings of $28.10, ZIP code 61316 is only about 4.5% larger.
Figure 5 examines the number of self employed people in the ZIP code 61316 metro area based on the number of people who reported any self employment income. 61316 shows it has a Self Employed of 6.6% which is less than most other zip codes in the greater region. The zip code with the highest percentage of people self employed in the area is 61370 which depicts a percentage self employed of 16.5% (approximately 2.5 times bigger).
Figure 6 breaks down the source of income and 61316 has the smallest proportion of self employment income at 9.0% of the total.
The next chart (Figure 7) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 23.6% which is the smallest when sorted by households with retirement income of all the other zip codes in the greater region. The zip code with the highest households with retirement income in the area is 61363 which shows a households with retirement income of 37.0% (57.0% larger).
The percentage of full-time workers are compared to the number of part-time workers in Figure 8. 61316 shows full time employees approximately 2.5 times bigger as the part time employees.
Figure 10 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. 61316 depicts it has the hightest cost of 101.4 for the cost of transportation classification.
ZIP code 61316 Poverty Charts
In Figure 11 the percentage of people earning less than the poverty level is shown and compared across the group of places. 61316 shows it has a Percent of Population In Poverty of 9.1% which is in the middle range of other zip codes in the greater region. The zip code with the highest percent of people earning less than the poverty level in the area is 61326 which depicts a percent of people in poverty of 11.9% (30.1% larger).
Additionally, Figure 12 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) ZIP code 61316 indicates it has a Public Assistance Percent of 8.5% which is less than most other zip codes in the greater region. The zip code with the highest households with public assistance in the area is 61363 which depicts a households with public assistance of 14.8% (74.5% larger).
ZIP code 61316 Labor Force Charts
The table in Figure 13, shows ZIP code 61316 employment data in terms of job categories and salary data.
The next two charts look at monthly trended employment related performance using data estimated by economists at the Bureau of Labor Statistics (BLS). The BLS tracks unemployment statistics for a large number of areas throughout the country on a month to month basis. However, not every location in the U.S. is tracked by the BLS so the chart will only show the closest location available (which may be the same location.) Figure 14 shows the monthly unemployment rate for the area as well as a comparison to the overall national economy measure for the United States. Note that in March to April 2022, the Covid 19 recession occurred and affects this metric. The monthly unemployment rate depicts that from February 2017 to before the disasterous Coronavirus Pandemic it went from 6.9% to 5.3% in December 2019. This represents a decrease in the monthly unemployment rate of 23.2%. Since that time, the monthly unemployment rate has gone to 5.3%. This represents an increase in the monthly unemployment rate of very little.
ZIP code 61316 Jobs Charts
In the jobs section of economic activity charts in Figure 15 shows the average annual earnings for very high level job industry categories for full time and year round employed.
Figure 16 shows the average median earnings for different categories of jobs.
ZIP code 61316 Work Commute Charts
The following set of charts detail a variety of metrics that have economic impact, economic grow factors and economic development metrics in the ZIP code 61316 community and has an impact on other factors such as economic growth, population growth, economic recovery, job growth, etc.. Figure 17 shows a high level view of how the population commutes to work (including the percent of people who work from home.) ZIP code 61316 has the largest proportion of people who bicycle or walk to work at 10% of the total and is ranked #1. Figure 18 shows a more detailed view of how the population commutes to work for (for example to downtown ZIP code 61316 or elsewhere.) ZIP code 61316 has the largest proportion of people who took a taxicab, motorcycle or other at 1% of the total and is ranked #1. Second, it has the largest proportion of people who work from home at 10% of the total and is ranked #1.
Figure 19 is provided for comparison purposes to the previous chart. It shows how people get to work overall on average in the United States.
The average commute time is shown in Figure 21. ZIP code 61316 shows it has a Avg Commute Time of 32 which is the highest of all zip codes in the greater ZIP code 61316 region.
Cities marked with an asterisk ("*") should resemble a city or town but do not have their own government (i.e. Mayor, City Council, etc.) These places should be recognizable by the local community but their boundaries have no legal status. Technically these include both Census Designated Places (CDP) and Census County Divisions (CCD) which are defined by the Census Bureau along with local authorities. (For more information, see:
Census Designated Place or "CDP")
and Census County Division "CCD".)
For comparison purposes, the US national average and the state average value are provided. Additionally, the "Combined Statistical Area" or CSA is shown that is closest to the city, county, or zip code shown. A CSA is a large grouping of adjacent metropolitan areas that identified by the Census Bureau based on social and economic ties. (See: Combined Statistical Area)
Data sources - Mouse over icon in upper right corner of each chart for information.