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GDP of the Chicago-Naperville-Elgin, IL-IN-WI MSA is almost $693 billion, according to the Federal Reserve Bank of St. Louis, and has actually grown by almost 33% over the last 10 years. Employment development in Chicago is 0. 09% year-over-year with the city area home to almost 4. 8 million employees. Typical home incomes in Chicago grew by 6.

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42% over the past 12 months. Unemployment rate in Chicago is currently 5. 4% (since October 2021) with the leisure and hospitality, professional and business services, and construction sectors showing the fastest indications of development (BLS). Key market sectors in Chicago consist of business and expert services, food market, transportation and logistics, life sciences and healthcare, technology, and manufacturing.

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Federal Government, Chicago Public Schools, City of Chicago, Advocate Aurora Health, Cook County, and Northwestern Memorial Health Care. Significant colleges and universities in Chicago consist of University of Chicago, Illinois Institute of Technology, Loyola University, De, Paul University, and Columbia College Chicago. Over 89% of the locals of Chicago are high school graduates or greater, while more than 39% hold a bachelor's or advanced degree.

and the third-largest intermodal port worldwide. Metropolitan Chicago is served by seven interstate highways, various cross country and commuter transportation systems, and 2 global airports. Port of Chicago includes a number of port facilities consisting of the Lake Calumet and Iroquois Landing Lakefront terminals. Real estate market The Chicago realty market is hotter than ever, with prices escalating due to inventory scarcities and the high expense of brand-new building and construction.

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Inventory is down to historically low levels, pushing year-over-year prices higher. Mean home values in Chicago have increased by nearly 9% throughout the nine-county area, with bidding wars the standard in numerous popular communities. Zillow House Value Index (ZHVI) for Chicago is $301,745 through November 2021. Home worths in Chicago increased by 8.

Over the last five years home worths in Chicago increased by over 34%. Typical listing rate of a single-family house in Chicago is $329,900 based upon the most recent report from  (November 2021). Typical sticker price per square foot for a house in Chicago is $242.  A Good Read  on market (average) is 63.