Chicago Real Estate Market 2023: Forecast, Trends & Predictions

2023 Housing Market Overview

Chicago Real Estate Market 2023

Chicago Real Estate Market Overview

Metro Population: 9.5M

Median Household Income:$62,000

Unemployment Rate:4.2%

Median Home Price*:$305,010

Median Monthly Rent*:$1,876

Chicago Real Estate Market 2023

Interested in investing in the Chicago real estate market in 2023? On this page you’ll learn about housing market trends and statistics to help you make that decision.

About Chicago

Chicago, IL is the third-largest city in the United States, and it’s one of the most diverse cities in the world. It has an impressive economy and is home to some of the biggest companies in America.

The Chicago metro area attracts the third-highest number of tourists each year, surpassed only by Orlando and New York City. The city also has the largest intermodal port in the nation, making it a distribution hub for the Midwest.

Chicago is an ideal place for real estate investment, with a strong economy and job growth. It is home to 12 Fortune Global 500 companies, 17 Financial Times 500 companies, and has the third-largest gross metropolitan product (GMP) in the United States.

Chicago’s gross metropolitan product is estimated to be $697.4 billion in 2020, which is the third-highest among American metros. Chicago’s economy has also been dubbed the most balanced in the US because of its diversity—it has many colleges as well as industries like manufacturing and financial services that support each other.

Chicago’s real estate market presents investors with a unique opportunity: it’s one of the biggest cities in America yet still relatively affordable compared to other major markets like New York City or Los Angeles.

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Major Employers in Chicago


Property Teams

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Sample properties

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Disclaimer: The information provided on this page is for educational purposes only. RealWealth makes no warranty or representation as to the accuracy, completeness or reliability of this information. Please be advised that this content may contain errors, is subject to revision at all times, and should not be relied upon for any purpose. Under no circumstances shall RealWealth be liable to you or anyone else for damage stemming from the use or misuse of this information.

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