Chicago s population is 9.5M, with a total workforce of 4.8M. The labor market grew by 33,500 jobs over the past year, up by 0.7%. The median household income in Chicago is $72,869, 3.0% higher than last year and 15.3% above the national average of $63,179.
In the housing market, total permits issued totaled 17,814 over the last twelve months, down -1.8% year-over-year. Chicago has 440 active new home projects on the market, 7.2% fewer than the 474 from last year. The average list price in the market is $350,201, 2.6% lower than last year and 0.6% above the national average. Over the last three months, new home contracts increased by 19.7% to 1,323. Chicago and Joliet had the highest concentration of the new home contracts in the Chicago market.