Chicago s population is 9.5M, with a total workforce of 4.7M. The labor market grew by 50,500 jobs over the past year, up by 1.1%. The median household income in Chicago is $70,308, 2.8% higher than last year and 11.3% above the national average of $63,179.
In the housing market, total permits issued totaled 17,623 over the last twelve months, down 2.6% year-over-year. Chicago has 481 active new home projects on the market, 5.3% more than the 457 from last year. The average list price in the market is $344,595, 2.5% lower than last year and 15.1% above the national average. Over the last three months, new home contracts increased by 7.5% to 1,236. Chicago and St. John had the highest concentration of the new home contracts in the Chicago market.