Income & Economy in Franklin Grove village, IL (61031)
Median Income
$74,050
*Adjusted for inflation (2023 dollars)
IRS Net Migration
+90
Wealth inflow
Population
1,615
Unemployment
0.8%
2.9pp below US avg
IRS migration statistics show a net inflow of about 90 for ZIP 61031 (Franklin Grove village, 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 61031 (2020–Present)
Since 2020, population declined 1.5%, median income rose 33.4% (inflation-adjusted), home values increased 40.2%.
Economy & Jobs key statistics
| Income & Jobs | |
|---|---|
| Median household income | $74,050 |
| Unemployment | 0.8% |
| Establishments | 19 |
| Employees | 247 |