Chicago s population is 9.5M, with a total workforce of 4.7M. The labor market grew by 60,800 jobs over the past year, up by 1.3%. The median household income in Chicago is $70,485, 3.0% higher than last year and 14.8% above the national average of $61,372. In the housing market, total permits issued totaled 18,447 over the last twelve months, down 5.9% year-over-year. Chicago has 428 active new home projects on the market, 2.3% fewer than the 438 from last year. The average list price in the market is $375,293, 2.5% higher than last year and 24.0% above the national average. Over the last three months, new home contracts decreased by 16.1% to 1,097. Chicago and Elgin had the highest concentration of the new home contracts in the Chicago market.