NAICS 52

Finance and Insurance in Rockford, IL

Metro Market Score 53.0 (Challenging), ranked #198 of 331 metros. 312 establishments, 2,837 jobs.

Metro Market Assessment

Metro Market Score 53.0
Favorable 0-35
Moderate 35-48
Challenging 48-60
Difficult 60+
Challenging

ⓘ Lower is better. Relative to national finance and insurance average.

Finance and Insurance employment in Rockford contracted year-over-year, placing the growth trend in the lower half at 10.6. Declining job counts can indicate consolidation, population shifts, or reduced local demand. Due diligence on the local economy is especially important here.

Industry Concentration
34.4
LQ: 0.51
Rank #114 of 331 metros
Wage Competitiveness
38.7
$84,132 avg wage
Growth Trend
↓ 10.6
Employment growth index
Rank #297 of 331 metros
Wage Pressure
39.6
YoY wage change index

312 Finance and Insurance Firms in Rockford

312
Establishments
-4.0% YoY
2,837
Total Employment
-6.4% YoY
$84,132
Average Annual Wage
+3.7% YoY
0.51
Location Quotient
Below national avg

Rockford vs Illinois Statewide

How this metro's finance and insurance market compares to Illinois overall. The state ranks #10/51 for entry risk.

Measure Rockford IL Statewide
Overall Score 53.0 Challenging 46.2 Elevated
Score Type Metro Market Score Entry Risk Score
Rank #198 of 331 metros #10 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Rockford

Real Estate and Rental and Leasing 38.5 Construction 39.4 Professional, Scientific, and Technical Services 42.8 Administrative and Support Services 44.0 Information 46.5 Other Services 50.7 Accommodation and Food Services 54.4 Retail Trade 60.5 Healthcare and Social Assistance 69.1

Finance and Insurance in Other Illinois Metros

Kankakee 25.8 #23/331 Champaign-Urbana 54.1 #210/331 Decatur 56.0 #226/331 Bloomington 59.3 #242/331 Chicago-Naperville-Elgin 72.3 #305/331

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Rockford's finance and insurance sector, the employment growth component (89.4) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Data period: 2024. Last updated: April 2026.