Income & Economy in Elgin city, IL (60123)
Median Income
$86,762
*Adjusted for inflation (2023 dollars)
IRS Net Migration
+2,718
Wealth inflow
Population
48,821
Unemployment
5.5%
1.8pp above US avg
IRS migration statistics show a net inflow of about 2,718 for ZIP 60123 (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 60123 (2020–Present)
Since 2020, population declined 1.9%, median income rose 5.3% (inflation-adjusted), home values increased 9.5%.
Economy & Jobs key statistics
| Income & Jobs | |
|---|---|
| Median household income | $86,762 |
| Unemployment | 5.5% |
| Establishments | 1,458 |
| Employees | 29,144 |