WalletHub deems Deerfield most desirable for families
WalletHub, a nationwide analysis provider in the financial, credit and real estate sectors, has selected Deerfield as Chicago's best location for families in a recent report issued from its Washington, D.C., base.
Of 162 communities evaluated in Illinois, the village of Deerfield was ranked the second best overall in the state. WalletHub used 21 basic indicators of optimal conditions for family life, such as district education, public health and safety along with factors including affordability and the socioeconomic picture.
Deerfield’s “score” was 72.08 out of a possible 100—less than half of 1 percent lower than Morton, Illinois, which came in first place at 72.67.
In an itemized breakdown, Deerfield proved outstanding in the category of affordability, which compared median family income to area housing costs and local cost of living indexes, coming in first place. The village also posted high scores for "socioeconomic environment" and "family life and fun," tallying 6th and 7th place overall, respectively.
“Our data set ranges from the percentage of families with young children to median family income to housing affordability,” WalletHub, which assigned equal weight to each of the four categories (family life and fun, education, health & safety, affordability and socioeconomic environment), said.
The state of Illinois’ median family income was shown to be $71,796, a figure almost $6,000 more than the national median family income.
The Village’s favorable ranking was announced by Village Management Analyst David Fitzgerald.