A leafy town outside Chicago is the nation’s top suburb, according to a new ranking that prioritizes affluence.
The city of Western Springs beat out 29 others to claim the top spot in GOBanking Fees‘ list, which included a second spot also in the Chicago area.
The southwestern suburb has a population of 13,557 people and a median household income of $276,402, well above the national average.
Similarly, the median value of a single-family home was $763,060, nearly double the median U.S. home price of $495,100, according to the Census Bureau and the Department of Housing and Urban Development.
It can be found tucked away between Hinsdale and La Grange, 15 miles from downtown.
The city of Western Springs beat out 29 others to claim the top spot on the GOBankingRates list, which included a second-place finish for the Chicago area.
Billed as ‘America’s 30 Safest and Richest Cities to Live in 2024’, the list excluded ‘budget friendliness’ as a factor to weigh.
Instead, it focused on smaller towns considered the safest and wealthiest, and included several suburbs in cities like San Francisco and Boston instead.
To compile it, the website analyzed a variety of data points, including median household income, total population, number of households, cost of living and crime rate in each community considered.
Number 1 emerged as Western Springs, an affluent suburb named for its now-dry mineral deposits on the southwest side of the city.
Filled with trees and quaint homes, the area on which the town sits was once made up of prairies and marshes, when a large number of the early residents were Quakers.
Its seminal spring dried up in 1890, a few decades after its founding, forcing the town to hire engineers to build a water supply system, resulting in its now famous water tower originally built in 1893.
Attractions include its famous water tower, originally built of stone over a hundred years ago.
The southwestern suburb has a population of 13,557 people and a median household income of $276,402. Similarly, the median value of a single-family home was $763,060, well above the national average.
It is located between Hinsdale and La Grange, 15 miles from downtown Chicago.
Built of Naperville stone, it stands 112 feet tall and was converted into a museum in 1970. It was listed on the National Register of Historic Places in 1981.
Other landmark additions have been made over the years, including a fire department, a power plant, a park district, and a library (1926).
The town has been expanded several times with annexes in 192, 1955, 1973, and 2005, bringing its total area to 2.79 square miles, according to the United States Census.
If you live near a downtown area without the crime that comes with a more urban setting, the website deemed the little-known community your best option.
Meanwhile, second place went to Kenilworth, located on the north shore of Lake Chicago.
The median household income there is lower, at $437,822, which is still well above the national median real household income of $75,000.
There, the average single-family home will cost $1,768,606 — a high price for most homebuyers.
That’s more than double the number for the town a few miles away that took the top spot, but factors like safety and its location along Lake Michigan helped secure its spot.
The cost of living in the city was more similar to that of Winnetka, a northern suburb next to Kenilworth that also made the list at No. 5.
In that Chicago suburb, the median household income is $458,988, with a median single-family home value of $1,623,361.
The community is home to the world-famous Home Alone home, which recently sold for over $5 million.
Another Midwestern city appears on the list, also high up: Ottawa Hills, Ohio, comes in at No. 6.
Two Boston suburbs rounded out the top five: Lexington and Winchester.
Ridgewood, New Jersey, came in seventh, due to its proximity to New York City, while another Boston enclave in Wellesley ranked eighth.
Westfield, New Jersey, near New York, took ninth place, and the small town of Ross, just north of San Francisco, took the No. 10 spot.
Additionally, cities in California and Massachusetts accounted for seven of these 30 cities, with major urban centers such as Cupertino making an appearance.
Meanwhile, Kenilworth, located on the northern shore of Chicago’s lake district, took the number 2 spot. Unlike Western Springs, it is located right on the shores of Lake Michigan and has a much higher cost of living.
Ridgewood, New Jersey, came in seventh, largely due to its proximity to New York City.
The town of Ross, north of San Francisco, rounded out the top 10. It has just 2,000 residents.
Chicago’s current crime rate has contributed to the popularity of its comparatively quieter suburbs, many of which are connected to the city by train.
Six of the towns were in New Jersey, all in the northern part of the state near New York,
Notably, none of the cities had a median household income below $251,210, which is nearly four times the national average.
But perhaps most surprising was that four of the cities (including three in the top five) were satellites of Chicago.
The Chicago metropolitan area accounts for approximately 3 percent of the entire U.S. population and is home to the headquarters of 31 Fortune 500 companies.
Companies such as McDonald’s, United Air Lines and Blue Cross Blue Shield have moved there in recent years, helping the metro area emerge as a top choice for corporate relocations.
The area is also home to a variety of universities, including the University of Chicago and Northeastern University, which regularly rank among the top schools in the U.S.
The Chicago Transit Authority also connects several of these suburbs to the city, day and night, every day of the year.
Meanwhile, Chicago’s current crime rate has contributed to the popularity of its comparatively quieter suburbs.
