Chicago s population is 9.5M, with a total workforce of 4.7M. The labor market grew by 68,100 jobs over the past year, up by 1.4%. The median household income in Chicago is $70,389, 2.9% higher than last year and 14.7% above the national average of $61,372.
In the housing market, total permits issued totaled 17,819 over the last twelve months, down 2.9% year-over-year. Chicago has 483 active new home projects on the market, 12.6% more than the 429 from last year. The average list price in the market is $355,457, 0.1% lower than last year and 14.5% above the national average. Over the last three months, new home contracts decreased by 7.4% to 1,233. Chicago and Plainfield had the highest concentration of the new home contracts in the Chicago market.