Income & Economy in Elgin city, IL (60120)
Median Income
$80,305
*Adjusted for inflation (2023 dollars)
IRS Net Migration
+2,826
Wealth inflow
Population
50,774
Unemployment
7.6%
3.9pp above US avg
IRS migration statistics show a net inflow of about 2,826 for ZIP 60120 (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 60120 (2020–Present)
Since 2020, population grew 0.9%, median income rose 0.6% (inflation-adjusted), home values increased 10.2%.
Economy & Jobs key statistics
| Income & Jobs | |
|---|---|
| Median household income | $80,305 |
| Unemployment | 7.6% |
| Establishments | 1,049 |
| Employees | 11,430 |