Hinsdale, IL leads nation’s richest suburbs in home value growth

Of the wealthiest suburbs in the country, Hinsdale, Illinois has seen the greatest growth in its home values year over year.

The Chicago-area village, which has a population of about 17,000, is the eighth wealthiest suburb in the U.S., according to a GOBankRates analysis of household income data. The average household income in Hinsdale in 2023 was more than $376,000, down 4.3 percent from 2022, which is the largest drop among the top 10 richest suburbs in the country.

However, the average home value in Hinsdale shot up by nearly 8 percent in May 2025 year over year to about $1.2 million — the greatest growth among this group. That also happens to be the eighth-highest average home value within the cohort.

In Alamo, California, a suburb of Oakland and the fifth-wealthiest suburb in the country, the average home value fell by nearly 2 percent during this time. This was the greatest drop among the wealthiest suburbs in the country.

Scarsdale, New York, a suburb of New York City, topped the list for the second year in a row with the highest average household income among the country’s suburbs in 2023, of just over $600,000. In May, the average home value in the Westchester County town was more than $1.2 million, a 3.2 percent jump from the year before.

Among the wealthiest suburbs in the country, California had the most municipalities — 17 — in the top 50, according to GOBankingRates.

Three Floridian suburbs made the top-50 list in terms of average household income: Palm Beach (No. 13), Pinecrest (No. 21) and Lake Butler (No. 40). Palm Beach had the highest average single-family home value of the top 50 suburbs of $10.3 million. However, that figure is down about 2.3 percent year over year.