Everything You Need to Know About the City of Chicago Illinois

In 2018, Chicago, Illinois had a population of 2.71M people with a median age of 34.9 and a median household income of $57,238. Between 2017 and 2018 the population of Chicago, IL declined from 2.72M to 2.71M, a -0.386% decrease, and its median household income grew from $55,295 to $57,238, a 3.51% increase.

The number of inhabitants in Chicago, IL is 33.3% White Alone, 29% Black or African American Alone, and 28.7% Hispanic or Latino. 35.8% of the people in Chicago, IL communicate in a non-English language, and 89.7% are U.S. residents. 

The largest universities in Chicago, IL are the University of Illinois at Chicago (7,605 degrees awarded in 2017), DePaul University (6,411 degrees), and DeVry University-Illinois (6,349 degrees).

The median property value in Chicago, IL is $271,600, and the homeownership rate is 45.7%. Most people in Chicago, IL commute by Drove Alone, and the average commute time is 33.5 minutes. The average vehicle proprietorship in Chicago, IL is 1 vehicle for every household.

 

Education in Chicago

In 2017, universities in Chicago, IL awarded 61,544 degrees. The student population of Chicago, IL is skewed towards women, with 92,862 male students and 127,063 female students.

Most students graduating from Universities in Chicago, IL are White (25,708 and 46.7%), followed by Hispanic or Latino (10,587 and 19.2%), Black or African American (9,030 and 16.4%), and Asian (5,226 and 9.49%).

The largest universities in Chicago, IL by the number of degrees awarded are the University of Illinois at Chicago (7,605 and 12.4%), DePaul University (6,411 and 10.4%), and DeVry University-Illinois (6,349 and 10.3%).

The most popular majors in Chicago, IL are General Business Administration & Management (4,754 and 7.72%), Liberal Arts & Sciences (2,457 and 3.99%), and Accounting (1,587 and 2.58%).

The median tuition costs in Chicago, IL are $27,345 for private four-year colleges, and $7,957 and $15,915 respectively, for public four-year colleges for in-state students and out-of-state students.

 

Economy in Chicago

The economy of Chicago, IL employs 1.37M people and Chicago has an unemployment rate of 4.4%. Chicago has seen the job market decreased by -0.2% over the last year. Future job development throughout the following ten years is anticipated to be 25.7%, which is lower than the US average of 33.5%. The largest industries in Chicago, IL are Health Care & Social Assistance (183,553 people), Professional, Scientific, & Technical Services (158,206 people), and Educational Services (135,976 people), and the highest paying industries are Mining, Quarrying, & Oil & Gas Extraction ($100,794), Finance & Insurance ($78,177), and Public Administration ($75,300).

Households in Chicago, IL have a median yearly income of $57,238, which is not exactly the median yearly income of $61,937 over the whole United States. This is in contrast with a median income of $55,295 in 2017, which speaks to a 3.51% yearly development. 

 

Tax Rates for Chicago 

– The Sales Tax Rate for Chicago is 10.3%. The US average is 7.3%. 

– The Income Tax Rate for Chicago is 5.0%. The US average is 4.6%. 

– Tax Rates can have a big impact when Comparing the Cost of Living.

 

Income and Salaries for Chicago 

– The average income of a Chicago occupant is $28,623 every year. 

– The Median household income of a Chicago inhabitant is $47,831 per year.