Chicago Stats

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Category: Housing

Homeownership Rate in Chicago Similar to Nation

Fewer and fewer Americans have been buying homes over the last decade. Today, just 63.0% of Americans own their homes, the smallest share since 1965. In the Chicago-Naperville-Elgin metro area, 63.2% of residents own their homes, similar to the national homeownership rate and the second lowest of any metro area in Illinois. Young Americans are […]

Why Quality of Life is Higher in Illinois

Americans often evaluate their home states according to such subjective conditions as climate preference, the presence of friends and family, and personal history. In addition to these subjective measures, more objective socioeconomic factors also contribute to life satisfaction. It is such quantitative measures that can help assess the broader quality of life in a given […]

Chicago is One of the Most Crowded Cities

There are 8,613 people per square mile in the Chicago-Naperville-Elgin metro area, higher than the national population density of 6,321 Americans per square mile across all U.S. metro areas. Chicago also has the highest population density of any Illinois metro area. Population density can have a meaningful impact on home prices in an area. There […]

Why Chicago is One of the More Expensive Housing Markets

A typical home in the Chicago-Naperville-Elgin, Illinois metro area costs $224,300, more than the national median home value of $194,500. The median home value in Chicago is also higher than in Illinois as a whole, where the typical home is worth $180,300. Chicago’s median home value is also the highest of any metro area in […]

Chicago is the 2nd Most Segregated City in America

Of the 28.7 million black Americans living in the nation’s largest metropolitan areas, nearly one-quarter reside in segregated neighborhoods — where at least 80% of residents are black. People living in urban areas are even more likely to be isolated, with 44.4% living in homogeneous neighborhoods, where the vast majority of residents have the same […]

Chicago is Among the Best 25% of Cities for Single Mothers

Raising children on a single income is no easy feat, and single mothers in the United States struggle more than almost any other group of Americans. Still, some cities are easier for single mothers trying to make ends meet — and some cities are far worse. The costs of housing, food, childcare, and education give […]

Chicago is the 13th Best City to Flip a Home

The U.S. housing market has been in steady recovery since the housing crisis, and increasing numbers of investors are trying their hand at home flipping: the purchase, renovation, and subsequent sale of a property in a relatively short period of time. While home flipping is costly and notoriously risky, a number of housing markets are […]

Illinois Ranks 10th in Share of Urban Living

Since 1950, Americans have increasingly chosen to live in cities. Today, 81% live in urban areas, more than even before. Urban areas, however, make up just 3% of U.S. land area. The proportion of people living in urban areas varies considerably between states. 24/7 Wall St. reviewed data from the U.S. Census to determine the […]

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