< back to the Housing Market Indicators Data Portal

Chicago

Chicago ( (listen), locally also ), officially the City of Chicago, is the most populous city in Illinois, as well as the third most populous city in the United States. With an estimated population of 2,705,994 (2018), it is the most populous city in the Midwest. Chicago is the principal city of the Chicago metropolitan area, often referred to as Chicagoland, and the county seat of Cook County, the second most populous county in the United States. The metropolitan area, at nearly 10 million people, is the third-largest in the United States. Located on the shores of freshwater Lake Michigan, Chicago was incorporated as a city in 1837 near a portage between the Great Lakes and the Mississippi River watershed and grew rapidly in the mid-19th century. After the Great Chicago Fire of 1871, which destroyed several square miles and left more than 100,000 homeless, the city made a concerted effort to rebuild. The construction boom accelerated population growth throughout the following decades, and by 1900 Chicago was the fifth largest city in the world. Chicago made noted contributions to urban planning and zoning standards, including new construction styles (including the Chicago School of architecture), the development of the City Beautiful Movement, and the steel-framed skyscraper.Chicago is an international hub for finance, culture, commerce, industry, technology, telecommunications, and transportation. It is the site of the creation of the first standardized futures contracts at the Chicago Board of Trade, which today is the largest and most diverse derivatives market gobally, generating 20% of all volume in commodities and financial futures. O'Hare International Airport is the one of the busiest airports in the world, and the region also has the largest number of U.S. highways and greatest amount of railroad freight. In 2012, Chicago was listed as an alpha global city by the Globalization and World Cities Research Network, and it ranked seventh in the entire world in the 2017 Global Cities Index. The Chicago area has one of the highest gross domestic products (GDP) in the world, generating $680 billion in 2017. In addition, the city has one of the world's most diversified and balanced economies, not being dependent on any one industry, with no single industry employing more than 14% of the workforce.Chicago's 58 million domestic and international visitors in 2018 made it the second most visited city in the nation, behind New York City's approximate 65 million visitors. The city ranked first place in the 2018 Time Out City Life Index, a global quality of life survey of 15,000 people in 32 cities. Landmarks in the city include Millennium Park, Navy Pier, the Magnificent Mile, the Art Institute of Chicago, Museum Campus, the Willis (Sears) Tower, Grant Park (Chicago), the Museum of Science and Industry, and Lincoln Park Zoo. Chicago's culture includes the visual arts, literature, film, theater, comedy (especially improvisational comedy), food, and music, particularly jazz, blues, soul, hip-hop, gospel, and electronic dance music including house music. Of the area's many colleges and universities, the University of Chicago, Northwestern University, and the University of Illinois at Chicago are classified as "highest research" doctoral universities. Chicago has professional sports teams in each of the major professional leagues, including two Major League Baseball teams. (Source: Wikipedia)

Housing stock map

See the share of the area's total housing units that are in single family homes, condominiums, two-to-four unit buildings, buildings with five to 49 units, and buildings with 50 units or more.


The Composition of Cook County’s Housing Market >

Housing market indicators

All of these property level data sets are connected to parcel-level data files from the county Assessors offices that include data on every parcel in the Chicago metropolitan area. All of these parcel-level data sets include historical data and are updated on a regular basis ranging from every week to every year depending on the data set.

Housing Stock Composition

The composition of a neighborhood’s housing stock determines the appropriate targeted strategies for stabilizing local housing markets. Learn more about this data set.

"

Housing Units by Property Type


Property Type 2019
Single Family 25.4%
Condominium 19.7%
Building with 2-4 Units 26.0%
Building with 5+ Units 28.9%


Property Sales Activity

This indicator provides information on how active local residential property markets are, what types of properties are being purchased, who is buying them, and how much buyers are paying for properties.

Total Sales Activity

This is the total number of property sales in a given year. In Cook County, data are broken out separately for total sales activity on single family homes, condominium units, two-to-four unit buildings, and in buildings with five or more units. Outside of Cook County, data are for all residential parcels.


Property Type 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
All Residential Properties 67,061 59,332 46,185 31,355 28,062 27,510 24,955 29,947 36,328 34,003 34,909 38,305 40,417 39,558 36,803
Single Family 23,001 18,812 13,015 9,141 9,914 10,103 9,107 10,414 12,888 11,976 12,320 13,806 14,784 14,596 13,890
Condominium 31,331 30,064 26,866 17,721 12,264 11,449 10,556 13,868 16,704 15,361 15,852 17,332 18,128 17,711 15,902
Building with 2-4 Units 11,645 9,585 5,600 4,014 5,534 5,507 4,713 4,993 5,930 5,713 5,763 6,133 6,542 6,291 6,065
Building with 5+ Units 1,084 871 704 479 350 451 579 672 806 953 974 1,034 963 960 946


Sales per 100 Residential Parcels

This indicator allows users to compare the level of property sales activity across geographies. This data point represents the total number of sales on all residential parcels divided by the total number of residential parcels in a given year, multiplied by 100.


Property Type 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
All Residential Properties 8.9 7.9 6.1 4.2 3.7 3.7 3.3 4.0 5.3 5.0 5.2 5.7 6.0 5.8 5.4


Share of Sales, Business Buyers

This represents a range of investor types from small mom-and-pop investors to large Wall Street-traded equity funds. Heightened levels of single family homes purchased by business buyers is often indicative of a distressed and low priced inventory of homes, and low demand for owner-occupied housing in a neighborhood. In Cook County, this data point is available as the share of total sales activity where the buyer was a business entity by property type (single family homes, condominium units, two-to-four unit buildings, and in buildings with five or more units). Outside of Cook County, data are for all residential parcels.


Property Type 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
All Residential Properties 9.6% 9.0% 8.7% 13.1% 15.8% 17.8% 18.0% 17.3% 18.9% 17.9% 17.5% 18.0% 18.9% 21.2% 19.3%
Single Family 10.1% 9.5% 9.1% 14.2% 16.3% 17.6% 16.0% 17.5% 21.5% 19.2% 18.9% 18.2% 19.1% 20.3% 18.9%
Condominium 7.0% 6.3% 5.4% 8.0% 8.3% 11.5% 12.3% 10.7% 9.6% 8.7% 7.7% 9.9% 11.8% 16.1% 12.5%
Building with 2-4 Units 11.2% 11.8% 16.5% 25.4% 27.5% 26.6% 26.7% 26.8% 31.1% 30.0% 30.4% 30.1% 29.2% 28.5% 28.5%
Building with 5+ Units 57.3% 58.3% 67.8% 75.2% 76.3% 74.3% 81.7% 80.1% 81.0% 79.5% 81.2% 79.6% 77.7% 80.5% 81.6%


Share of Sales, Extremely Low Value

This represents the percent of sales that were purchased for less than $20,000 in a given year. In Cook County, this data point is available as the share of total sales activity that sold for less than $20,000 by property type (single family homes, condominium units, two-to-four unit buildings, and in buildings with five or more units). Outside of Cook County, data are for all residential parcels.


Property Type 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
All Residential Properties 0.8% 0.5% 0.5% 3.0% 9.3% 9.1% 7.2% 5.8% 5.2% 4.2% 3.3% 3.1% 2.6% 2.0% 1.7%
Single Family 0.7% 0.4% 0.5% 5.2% 12.7% 11.6% 8.9% 8.2% 8.0% 6.6% 5.7% 5.2% 4.4% 3.7% 2.8%
Condominium 0.9% 0.6% 0.5% 1.7% 2.5% 4.4% 3.9% 3.0% 1.6% 1.2% 0.8% 0.7% 0.6% 0.5% 0.6%
Building with 2-4 Units 0.5% 0.2% 0.4% 4.1% 18.5% 15.1% 12.3% 9.4% 9.7% 7.8% 5.7% 5.3% 4.3% 2.7% 2.1%
Building with 5+ Units 0.5% 0.7% 0.1% 1.5% 2.3% 1.6% 1.0% 2.1% 2.6% 1.3% 1.2% 1.3% 1.0% 0.7% 0.6%


Mortgage Activity

These data measure the flow of mortgage credit into an area and indicates the level of lender investment. The level of mortgage activity in a neighborhood relative to other areas can assess how access to credit has changed over time in a community and how the flow of credit differs across geographies and for different property types.

Total Mortgage Activity

This is the total number of mortgages in a given year. In Cook County, data are broken out separately for total mortgage activity on single family homes, condominium units, two-to-four unit buildings, and in buildings with five or more units. Outside of Cook County, data are for all residential parcels.


Property Type 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
All Residential Properties 198,889 187,613 152,061 92,855 78,428 65,064 56,633 73,194 70,251 51,672 59,592 67,601 58,698 50,842 60,214
Single Family 90,503 81,951 65,030 38,362 34,004 28,052 24,927 30,683 28,734 21,344 24,958 28,937 25,402 21,950 26,480
Condominium 62,430 64,496 57,568 38,599 33,829 27,389 22,359 31,147 29,697 20,218 23,399 26,284 21,604 17,782 21,826
Building with 2-4 Units 42,956 38,478 26,825 13,597 9,440 8,532 8,094 9,857 10,166 8,398 9,545 10,374 9,732 9,247 10,112
Building with 5+ Units 3,000 2,688 2,638 2,297 1,155 1,091 1,253 1,507 1,654 1,712 1,690 2,006 1,960 1,863 1,796


Mortgages per 100 Residential Parcels

Mortgages  per 100 Residential Parcel


Property Type 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
All Residential Properties 26.4 24.9 20.2 12.3 10.4 8.6 7.5 9.7 10.2 7.6 8.8 10.0 8.7 7.5 8.9


Foreclosure Filing Activity

This is an indicator of distress in a local housing market and viewing changing levels of activity allows for an understanding of the evolving nature of the foreclosure crisis in a neighborhood.

Total Foreclosure Filings Activity

This is the total number of new foreclosure filings in a given year. In Cook County, data are broken out separately for foreclosure filing activity on single family homes, condominium units, two-to-four unit buildings, and in buildings with five or more units. Outside of Cook County, data are for all residential parcels.


Property Type 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
All Residential Properties 8,404 11,409 16,587 21,921 22,452 22,874 18,346 18,402 11,025 7,463 6,356 5,886 5,887 5,449 4,788
Single Family 4,882 6,128 8,288 10,253 10,357 10,771 8,825 9,383 5,800 4,121 3,683 3,525 3,545 3,290 2,899
Condominium 1,027 1,567 2,714 4,695 5,599 6,016 4,781 4,410 2,397 1,363 1,016 876 886 805 668
Building with 2-4 Units 2,364 3,498 5,333 6,583 6,012 5,647 4,324 4,239 2,554 1,778 1,536 1,360 1,377 1,248 1,140
Building with 5+ Units 131 216 252 390 484 440 416 370 274 201 121 125 79 106 81


Foreclosure Filings per 100 Residential Parcels

This indicator allows users to compare the level of foreclosure filing activity across geographies. This data point represents the total number of foreclosure filings on all residential parcels divided by the total number of residential parcels in a given year, multiplied by 100.


Property Type 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
All Residential Properties 1.1 1.5 2.2 2.9 3.0 3.0 2.4 2.4 1.6 1.1 0.9 0.9 0.9 0.8 0.7


Cumulative Foreclosure Filings Activity



Property Type 2019
All Residential Properties 21.3%


Foreclosure Auctions

These are properties that have completed the foreclosure process. Understanding foreclosure auction activity helps determine the flow of year-over-year of REO (real estate owned) properties into a market, how third-party demand at auctions differs based on property types, and the density of REO activity across geographies. The level of completed foreclosure auctions activity in a neighborhood indicates distress in a local housing market.

Total Auction Activity

This is the total number of completed foreclosure auctions in a given year. In Cook County, data are broken out separately for total auction activity on single family homes, condominium units, two-to-four unit buildings, and in buildings with five or more units. Outside of Cook County, data are for all residential parcels.


Property Type 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
All Residential Properties 2,102 2,839 5,677 8,612 9,748 9,184 6,291 7,385 8,715 6,690 5,378 4,062 3,290 2,882 2,231
Single Family 1,259 1,590 2,824 3,894 4,184 3,684 2,552 3,168 3,983 3,320 2,799 2,239 1,925 1,736 1,371
Condominium 281 412 844 1,505 2,320 2,826 2,014 2,472 2,606 1,616 1,160 691 503 386 310
Building with 2-4 Units 540 803 1,944 3,101 3,129 2,447 1,541 1,620 1,957 1,594 1,300 1,061 812 731 528
Building with 5+ Units 22 34 65 112 115 227 184 125 169 160 119 71 50 29 22


Share of Auctions Resulting in REO

This is the percent of completed foreclosure auctions in a given geography where there were no bidders and the property became bank-owned REO (real estate owned).


Property Type 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
All Residential Properties 70.1% 83.6% 95.1% 98.4% 97.9% 95.7% 94.4% 90.8% 88.9% 87.1% 84.5% 81.2% 75.8% 72.3% 76.2%
Single Family 68.4% 81.6% 95.6% 98.7% 98.6% 95.5% 95.8% 91.6% 88.5% 85.7% 84.7% 83.3% 78.2% 73.8% 77.4%
Condominium 81.5% 90.8% 94.8% 98.1% 97.8% 96.4% 95.4% 89.8% 89.7% 86.9% 83.2% 72.4% 62.0% 59.1% 64.8%
Building with 2-4 Units 68.5% 84.2% 95.2% 98.3% 97.2% 94.9% 91.0% 90.6% 88.7% 90.4% 85.8% 83.5% 78.6% 76.1% 79.9%
Building with 5+ Units 59.1% 76.5% 75.4% 93.8% 97.4% 96.5% 94.0% 90.4% 88.8% 83.1% 77.3% 67.6% 78.0% 62.1% 77.3%


REO per 100 Residential Parcels


Property Type 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
All Residential Properties 0.2 0.3 0.7 1.1 1.3 1.2 0.8 0.9 1.1 0.9 0.7 0.5 0.4 0.3 0.3


Population and Age

Population and Age


Indicator Value
Total Population 2,708,837
Share of Population Aged under 18 20.9%
Share of Population Aged 18 to 44 43.8%
Share of Population Aged 45 to 64 22.9%
Share of Population Aged over 65 12.4%


Race and Ethnicity

Race and Ethnicity


Indicator Value
Share of Population that is White 33.3%
Share of Population that is African American 29.2%
Share of Population that is Hispanic or Latino 28.8%
Share of Population that is Asian 6.5%
Share of Population that is Some Other Race 2.2%


Household Income

Household Income


Indicator Value
Total Households 1,066,522
Share of Households with Income Less than $25,000 24.3%
Share of Households with Income $25,000 to $50,000 19.9%
Share of Households with Income $50,000 to $100,000 26.3%
Share of Households with Income $100,000 or More 29.5%


Poverty Rate

Share of Population that is under the Poverty Level


Indicator Value
Share of Population that is under the Poverty Level 18.4%


Resident Tenure

Total Households


Indicator Value
Total Households 1,066,522


Share of Households that are Owner-Occupied


Indicator Value
Share of Households that are Owner-Occupied 45.0%


Share of Households that are Renter-Occupied


Indicator Value
Share of Households that are Renter-Occupied 55.0%


Cost Burdened Households

Share of Owner-Occupied Households that are Cost-Burdened


Indicator Value
Share of Owner-Occupied Households that are Cost-Burdened 30.7%


Share of Renter-Occupied Households that are Cost-Burdened


Indicator Value
Share of Renter-Occupied Households that are Cost-Burdened 48.8%


Share of All Households that are Cost-Burdened


Indicator Value
Share of All Households that are Cost-Burdened 40.4%