Income & Economy in Elgin city, IL (60124)
Median Income
$135,350
*Adjusted for inflation (2023 dollars)
IRS Net Migration
+1,358
Wealth inflow
Population
24,400
Unemployment
3.8%
0.1pp above US avg
IRS migration statistics show a net inflow of about 1,358 for ZIP 60124 (Elgin city, IL) on US5’s published series — a signal of people/tax filers moving in relative to those leaving. Inflows often track job growth, housing demand, or lifestyle migration; treat the figure as a directional indicator rather than a precise headcount.
Historical Trends in 60124 (2020–Present)
Since 2020, population grew 10.9%, median income fell 1.5% (inflation-adjusted), home values increased 7.0%.
Economy & Jobs key statistics
| Income & Jobs | |
|---|---|
| Median household income | $135,350 |
| Unemployment | 3.8% |
| Establishments | 608 |
| Employees | 11,216 |