Chicago, IL
Population 2,707,648 · Illinois
About Chicago, IL
Chicago is a major city located in Illinois with a population of 2,707,648 residents according to the latest US Census Bureau American Community Survey data. The median household income is $75,134 per year, which is 0% below the national median of $75,149. The median age of 35.7 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Chicago features a median home value of $315,200, which is 29% above the national median of $244,900. This positions Chicago in a moderately priced market relative to the rest of the country. Median monthly rent is $1,380, 19% above the national average of $1,163/month. Of the 1,268,199 total housing units, 46% are owner-occupied (522,179 units) and 54% are renter-occupied (624,368 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Chicago shows an unemployment rate of 7.9%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 16.8%, above the national average of 12.4%. Workers in Chicago have an average one-way commute time of 33.5 minutes.
Education & Demographics
43.3% of Chicago residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 21.6% White, 1.9% Hispanic or Latino, 3.5% Black or African American, and 4.2% Asian residents, with 20.7% of the population being foreign-born.
How Chicago Ranks in Illinois
Cost of Living in Chicago, IL
Compared to national averages, Chicago has a median household income of $75,134 (0% below the national median of $75,149). Home values average $315,200, which is 29% above the national median. Monthly rent at $1,380 is 19% above the US average of $1,163. Within Illinois, Chicago's income is 0% above the state average of $75,072, and home values are 90% above the state median of $165,779.
Why Live in Chicago, IL?
Chicago offers a well-educated community where 43.3% of residents hold a bachelor’s degree or higher.
Potential considerations include median household income ($75,134) that falls below the national average. However, as a major city, Chicago provides access to a wide range of amenities and services.
Chicago has a population of 2,707,648 with a median age of 35.7 years. Compare Chicago with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Chicago
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Aurora | 179,867 | $90,109 | $260,400 | Compare |
| Joliet | 149,785 | $88,026 | $248,600 | Compare |
| Naperville | 149,424 | $150,937 | $509,900 | Compare |
| Rockford | 147,649 | $53,328 | $120,900 | Compare |
| Elgin | 114,106 | $88,316 | $252,400 | Compare |
| Springfield | 113,714 | $65,537 | $155,200 | Compare |
| Peoria | 112,126 | $58,716 | $149,500 | Compare |
| Waukegan | 88,919 | $70,578 | $177,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Chicago With Other Cities
Frequently Asked Questions about Chicago
What is the population of Chicago, IL?
The population of Chicago, IL is 2,707,648 according to the latest US Census Bureau American Community Survey estimates. This makes it a major city in Illinois.
What is the median household income in Chicago?
The median household income in Chicago, IL is $75,134 per year, which is 0% below the national median of $75,149.
What is the median home value in Chicago?
The median home value in Chicago, IL is $315,200, which is 29% above the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Chicago?
The median monthly rent in Chicago, IL is $1,380, which is 19% above the national average of $1,163/month.
What is the unemployment rate in Chicago?
The unemployment rate in Chicago, IL is 7.9%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Chicago, IL a good place to live?
Chicago offers a moderate cost of living, a competitive housing market, and growing employment opportunities. With a population of 2,707,648 and a median age of 35.7, the city appeals to a broad range of residents.
How educated is Chicago, IL?
43.3% of residents in Chicago aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Chicago?
Key cost-of-living indicators for Chicago, IL: median home value is $315,200 (29% above national), median rent is $1,380/month, and median household income is $75,134. The home-value-to-income ratio is 4.2x, a moderate figure by national standards.
What is the poverty rate in Chicago?
The poverty rate in Chicago, IL is 16.8%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Chicago, IL?
Chicago's population is 21.6% White, 1.9% Hispanic or Latino, 3.5% Black or African American, 4.2% Asian, and 28.0% two or more races. 20.7% of residents are foreign-born.