Chicago has a total population of 2,716,450 and 44.10% of the population own their home. 55.90% of the occupied housing units are renters within the Chicago metro area. The median gross rent from 2014 - 2016 was $987. Today, the rental rate has risen 83.18% from 2016. Residents tend to be more long term with 84.10% staying in their residence for more than 1 year. For those who own a home, the median value of the house is $225,200.
Rental Rates in Chicago
The average rental rate for all rental properties within Chicago is $1,808. The rental rates by bedrooms is as follows. A studio is $1,254, a one bedroom is $1,771, a two bedroom is $2,382, and for three bedrooms, the rental rate is $2,816. The average sq ft for a rental unit is 765 sq. ft. With 3 bedrooms being about on average 1,334 sq. ft.
By neighborhood, the average rental rates in Chicago are as follows:
West Garfield Park - $782
Homan Square - $782
Fifth City - $782
South Shore - $939
Jackson Park Highlands - $939
Woodlawn - $1,005
Park Manor - $1,050
Greater Grand Crossing - $1,050
Rogers Park - $1,056
West Woodlawn - $1,091
Uptown Chicago - $1,093
Sheridan Park - $1,093
Margate Park - $1,093
Lakewood - Balmoral - $1,093
Edgewater Beach - $1,099
Bryn Mawr Historic District - $1,099
Andersonville - $1,099
Ravenswood - $1,102
Bowmanville - $1,102
Magnolia Glen - $1,109
The total population under the age of 18 is 28.50%. While those over 65 is 11.20%. Women make up 51.50%, while men make up the remaining 48.50%. 48.70% of the population is White, 29.10% is Latino and 30.90% African American.
Education and Economy
21.70% of the populace in Chicago is viewed as at the destitution level. The training level is somewhat high with 83.10% with a secondary school degree or higher. The middle yearly family compensation for Chicago is $50,434 with 50.86% of all organizations inside the city being claimed by men, while 42.48% are possessed by ladies and 48.15% of organizations are minority possessed.
Chicago has the third biggest gross metropolitan city in the United States - around $506 billion as per 2007 appraisals. The city has additionally been appraised as having the most adjusted economy in the United States, because of its abnormal state of broadening. It was named the fourth most critical business focus on the planet in the MasterCard Worldwide Centers of Commerce Index. Also, the metropolitan zone recorded the best number of new or extended corporate offices in the United States for six out of the seven years from 2001 to 2008. The Chicago metropolitan zone has the third biggest science and designing workforce of any metropolitan region in the country. In 2008, Chicago set sixteenth on the UBS rundown of the world's most extravagant urban communities. Chicago was the base of business tasks for industrialists John Crerar, John Whitfield Bunn, Richard Teller Crane, Marshall Field, John Farwell, Morris Selz, and numerous other business visionaries who established the framework for Midwestern and worldwide industry.
Chicago is a noteworthy transportation center point in the United States. It is an imperative segment in worldwide circulation, as it is the third biggest between modular port on the planet after Hong Kong and Singapore. Moreover, it is the main city in North America in which six Class I railways meet. Around 33% of the nation's cargo trains go through the city, making it a noteworthy national bottleneck. Chicago is one of the biggest centers of traveler rail benefit in the country. Chicago likewise offers a wide exhibit of bike transportation offices and occasions, including a few miles of on-road bicycle paths, 10000 bicycle racks, 170 miles of bicycle course signage, a best in class focal bike worker station in Millennium Park and the yearly Bike Chicago celebration. In the wake of checking on the majority of your decisions for homes for lease in Chicago, exploit Chicago's powerful open transportation when searching for houses for lease in Chicago! The Chicago Transit Authority (CTA) runs a significant part of the general population transportation in Chicago.
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