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Chicago, Illinois

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Data-driven estimates for Chicago — with the methodology behind every number.

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Chicago market snapshot

Median Sale Price
$525K
Median Days on Market
35 days
Active Listings
203

RentCast market data · Cook County County, Illinois

About Chicago, Illinois

Chicago is the most populous city in the U.S. state of Illinois and in the Midwestern United States. Located on the western shore of Lake Michigan, it is the third-most populous city in the United States, with a population of 2.74 million at the 2020 census. The Chicago metropolitan area has 9.41 million residents and is the third-largest metropolitan area in the country. Chicago is the seat of Cook County, the second-most populous county in the U.S.

Chicago was incorporated as a city in 1837 near a portage between the Great Lakes and the Mississippi River watershed. It grew rapidly in the mid-19th century. In 1871, the Great Chicago Fire destroyed several square miles and left more than 100,000 homeless, but Chicago's population continued to grow. Chicago made noted contributions to urban planning and architecture, such as the Chicago School, the development of the City Beautiful movement, and the steel-framed skyscraper.

Chicago is an international hub for finance, culture, commerce, industry, education, technology, telecommunications, and transportation. It has the largest and most diverse finance derivatives market in the world, generating 20% of all volume in commodities and financial futures alone. O'Hare International Airport is routinely ranked among the world's top ten busiest airports by passenger traffic, and the region is also the nation's railroad hub. The Chicago area has one of the highest gross domestic products (GDP) of any urban region in the world, ranking sixth globally, generating over $919 billion in 2024. Chicago's economy is diverse, with no single industry employing more than 14% of the workforce.

Chicago by the numbers

Population 2,707,648 · Median age 35.7 yrs · Census ACS 2023

Median household income

Chicago's median household income of $75,134 compares to $81,702 statewide and $78,538 nationally, per Census ACS 2023 5-year estimates.

Median age (years)

The median age in Chicago is 35.7 yrs, compared to 38.9 yrs for Illinois and 38.7 yrs nationally.

Gender split

Chicago is 48.5% male and 51.5% female, per Census ACS estimates.

Population trend — Chicago

Chicago's population declined 0.1% from 2019 to 2023, per Census ACS 5-year estimates.

Source: U.S. Census Bureau, American Community Survey 2023 5-year estimates.

Illinois government

Governor

JB Pritzker

Democrat

U.S. Senators

House Representatives (17)

Source: Congress.gov, Wikidata. Federal legislators represent Illinois statewide or by congressional district.

Chicago economy

Chicago has the third-largest gross metropolitan product in the United States—about $670.5 billion according to September 2017 estimates. The city has also been rated as having the most balanced economy in the United States, due to its high level of diversification. The Chicago metropolitan area has the third-largest science and engineering work force of any metropolitan area in the nation. Chicago was the base of commercial operations for industrialists John Crerar, John Whitfield Bunn, Richard Teller Crane, Marshall Field, John Farwell, Julius Rosenwald, and many other commercial visionaries who laid the foundation for Midwestern and global industry. Chicago is a major world financial center, with the second-largest central business district in the United States, following Midtown Manhattan. The city is the seat of the Federal Reserve Bank of Chicago, the Bank's Seventh District. The city has major financial and futures exchanges, including the Chicago Stock Exchange, the Chicago Board Options Exchange (CBOE), and the Chicago Mercantile Exchange (the "Merc"), which is owned, along with the Chicago Board of Trade (CBOT), by Chicago's CME Group. In 2017, Chicago exchanges traded 4.7 billion in derivatives. Chase Bank has its commercial and retail banking headquarters in Chicago's Chase Tower. Academically, Chicago has been influential through the Chicago school of economics, which fielded 12 Nobel Prize winners. The city and its surrounding metropolitan area contain the third…

Source: Wikipedia article on Chicago under CC BY-SA 4.0.

Climate in Chicago

Monthly climate — Chicago

Source: NOAA Climate Data Online, 1991–2020 climate normals, station GHCND:USC00111497.

Average annual rainfall: 0.4 inches across 0 days per year.

Chicago real estate news

Recent news about the Chicago housing market. Source: Google News.

Chicago real estate — frequently asked questions

What is the median home price in Chicago?
The median home sale price in Chicago, IL is $525,000, based on the most recent available sales data.
How long do homes stay on the market in Chicago?
Homes in Chicago sell in a median of 35 days.
What is the cost of living like in Chicago?
Chicago has a median household income of $75,134, per U.S. Census Bureau ACS estimates.
Who lives in Chicago?
Chicago has a population of 2,707,648 with a median age of 35.7 years, per U.S. Census Bureau ACS estimates.
How do I sell my home in Chicago?
Start with a free, no-obligation home value estimate. Enter your address above and we'll connect you with a licensed local real-estate professional familiar with the Chicago market within 24 hours.

How it works

  1. 1

    Enter your address

    We pull public records and comparable sales for your Chicago property in seconds.

  2. 2

    See the math

    Three data-driven estimates — low, mid, and high — with the market context behind them.

  3. 3

    Connect with an expert

    A licensed Illinois real-estate professional reaches out within 24 hours.

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ForSaleAmerica.com is an online marketplace and is not a real estate brokerage in Illinois. Property valuations shown are automated estimates based on public data and are not appraisals, comparative market analyses, or guarantees of sale price. We connect homeowners with top local agents and partners — we do not represent buyers or sellers.