Chicago, IL Economy


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Chicago, IL is an exciting city known for its vibrant culture, world-class restaurants, and top-notch organizations. It is home to some of the country's largest companies such as McDonald's, Boeing, and United Airlines as well as a wide array of local businesses like chicagobusinesses.com that provide services such as tax preparation and accounting to Chicagoans. The city also has a thriving tourism industry with attractions like Navy Pier and the Willis Tower. Additionally, with a two bedroom rent of $1,480 compared to the US average of $1,430 and a grocery cost index of 97 versus 100 in the US Chicago remains a great place to live despite being one of America's most populous cities.

Chicago has an unemployment rate of 9.0%. The US average is 6.0%.

Chicago has seen the job market decrease by -0.2% over the last year. Future job growth over the next ten years is predicted to be 25.7%, which is lower than the US average of 33.5%.

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 Cost of Living.

Income and Salaries for Chicago
- The average income of a Chicago resident is $41,821 a year. The US average is $37,638 a year.
- The Median household income of a Chicago resident is $65,781 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyChicago, IllinoisUnited States
  96
  -9.4%-6.2%
  25.7%33.5%
  10.3%6.2%
  5.0%4.6%
  $41,821$37,638
  $65,781$69,021
  $79,434$85,028
  Population by Occupation
  0.1%1.2%
  0.0%0.5%
  4.0%6.8%
  7.9%10.0%
  2.1%2.5%
  8.3%11.0%
  6.4%4.8%
  0.4%0.8%
  2.2%1.9%
  6.3%4.7%
  2.3%1.9%
  12.5%7.6%
  0.2%0.1%
  4.8%4.2%
  9.9%9.3%
  13.9%14.0%
  2.3%2.1%
  7.5%7.0%
  4.8%4.8%
  4.1%4.7%
Reviews for Chicago
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I've lived in Chicago city and later moved to suburbs when family size increased. Absolutely love this city. This is the cleanest and most beautiful among the major  More

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Chicago is probably the best value in a major city that you can find and my personal favorite city. It will become increasingly important as climate change makes the  More

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I've live on north side and south side, UIC medical center. Don't move here go to the north side. No good amenities, if you get bored with one there is no other choices.  More

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