Chicago's population is 9.5M, with a total workforce of 4.7M. The labor market grew by 30,700 jobs over the past year, up by 0.7%. The median household income in Chicago is $69,196, 4.8% higher than last year and 12.7% above the national average of $61,372. In the housing market, total permits issued totaled 18,321 over the last twelve months, down 10.6% year-over-year.
Chicago has 405 active new home projects on the market, 3.8% fewer than the 421 from last year. The average list price in the market is $375,244, 4.2% lower than last year and 17.3% above the national average. Over the last three months, new home contracts increased by 8.2% to 1,173. Chicago and Pingree Grove had the highest concentration of the new home contracts in the Chicago market.