Chicago is an enormous city located in the state of Illinois. With a population of 2,720,546 people and 795 constituent neighborhoods, Chicago is the largest community in Illinois. Much of the housing stock in Chicago was built prior to World War II, making it one of the older and more historic cities in the country.
Chicago real estate is some of the most expensive in Illinois, although Chicago house values don't compare to the most expensive real estate in the U.S.
Unlike some cities where white-collar or blue-collar occupations dominate the local economy, Chicago is neither predominantly one nor the other. Instead, it has a mixed workforce of both white- and blue-collar jobs. Overall, Chicago is a city of sales and office workers, professionals and service providers. There are especially a lot of people living in Chicago who work in office and administrative support (12.82%), sales jobs (10.26%) and management occupations (9.06%).
Also of interest is that Chicago has more people living here who work in computers and math than 95% of the places in the US.
Chicago Information and Demographics
The population of Chicago is very well educated relative to most cities and towns in the nation, where the average community has 21.84% of its adult population holding a 4-year degree or higher: 34.90% of adults in Chicago have a bachelor's degree or even advanced degree.
The per capita income in Chicago in 2010 was $28,623, which is upper middle income relative to Illinois and the nation. This equates to an annual income of $114,492 for a family of four. However, Chicago contains both very wealthy and poor people as well.
Chicago is an extremely ethnically-diverse city. The people who call Chicago home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Chicago residents report their race to be White, followed by Black or African-American. Chicago also has a sizeable Hispanic population (people of Hispanic origin can be of any race). People of Hispanic or Latino origin account for 28.95% of the city’s residents. Important ancestries of people in Chicago include Irish, German, Polish, Italian and English.
Foreign born people are also an important part of Chicago's cultural character, accounting for 20.92% of the city’s population.
The most common language spoken in Chicago is English. Other important languages spoken here include Spanish and Polish.
Information by Department of Numbers, Bureau of Labor Statistics, U.S. Census Bureau and Locatoin Incorporated ILe deemed reliable but not guaranteed.
Information by realestate.com and altosresearch.com are deemed reliable but not guaranteed.
. (Recessions shown as gray bars.)
- Current Population Survey, CES
- Current Employment Statistics.
The rent-to-mortgage payment ratio uses the adjusted market rent against a 100% loan-to-value mortgage (30-year fixed) for the median price home using MLS sales statistics. A ratio of 1.0 means that annual rent is equivalent to annual mortgage payments. Values less than 1.0 indicate rents ILe cheaper, and values greater than 1.0 mean mortgage payments ILe cheaper. (Note: taxes ILe not considered here.)
Information by Department of Numbers, Bureau of Labor Statistics, U.S. Census Bureau deemed reliable but not guaranteed.