Indicates MSA includes part of more than one state or region. MSA includes part of more than one state or region.

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Chicago-Naperville-Joliet, IL-IN-WI View area description and map

 

Market Hotness

0.7

12 mos. permits per 1,000 residents

Last update Sep '09Sources and methods - click for more info

Job Growth

-4.8%

Annual rate last 4 quarters

Last update Sep '09Sources and methods - click for more info

Res. Permits

-67%

YTD change vs. prior year

Last update Sep '09Sources and methods - click for more info
 

Local News from BUILDER

  • ACORN branches rename, rebrand after video scandal

    CHICAGO - Affiliates of the once mighty liberal activist group ACORN are remaking themselves in a desperate bid to ditch the tarnished name of their parent organization and restore federal grants and other revenue streams that ran dry in the wake of a video scandal.

     

  • Midwest home sales figures reveal mixed picture

    OMAHA, Neb. - In the Midwest, January home sales plummeted 37 percent from December's figure, but sales were still up nearly 4 percent over the previous year, according to figures released Friday by the National Association of Realtors.

     

  • Poll: Economists see 'healthy' expansion under way

    CHICAGO - Economists expect the recovery to remain "firmly on track" over the next two years though job growth is likely to remain slow, according to a new survey.

     
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2008 Local Leaders

Chicago Market Area

  • Market Rank: 7
  • Total Permits: 14,598
Rank Parent Company/Company Closings Market Share
1 D.R. Horton/Cambridge Homes 788 5.4%
2 Pulte Homes/Del Webb 521 3.6%
3 Enterprise Cos. 506 3.5%
4 Centex Homes 482 3.3%
5 Hovnanian Enterprises/Town & Country Homes 353 2.4%
6 Trump Organization 340 2.3%
7 Kimball Hill Homes 306 2.1%
8 Belgravia Group 272 1.9%
9 The Ryland Group 267 1.8%
10 Edward R. James Homes 255 1.7%
Top 10 Total Market Share 4,090 28.05%

Chicago data courtesy of Hanley Wood Market Intelligence
*Estimated

 

Chicago Permits

Percentage change year over year

  Single Family Multifamily Units  
  Permits Chg. 2 Units 3-4 Units +5 Units All Multi Chg. Total Units Chg.
9 Mos. 2009 3,259 -51% 74 109 1,123 1,306 -82% 4,565 -67%
2009 3Q 1,323 -39% 20 33 801 854 -55% 2,177 -47%
2Q 1,276 -53% 32 39 156 227 -92% 1,503 -73%
1Q 660 -63% 22 37 166 225 -91% 885 -79%
2008 4Q 1,329 -60% 38 116 965 1,119 -66% 2,448 -63%
3Q 2,186 -53% 36 167 1,708 1,911 -46% 4,097 -50%
Annuals                  
2008 7,778 -57% 166 647 7,535 8,348 -47% 16,126 -52%
2007 18,095 -37% 568 1,261 14,009 15,838 -12% 33,933 -27%
2006 28,632 -24% 734 2,079 15,277 18,090 +10% 46,722 -13%
Last update Sep '09Sources and methods - click for more info
 

Market Hotness Trend

12 mos. permits per 1,000 residents

Sep '09

0.7

Last update Sep '09Sources and methods - click for more info

Density Information

Calculated per square mile

Q2 '09Q2 '08Chg.
Population1342.411332.570.7%
Housing Unit523.10522.170.2%
Market Density Index (MDI)
Total Permits0.932.83-67.1%
SF Permits0.601.38-56.5%
MF Permits0.331.44-77.1%
Last update Sep '09Sources and methods - click for more info

Existing Housing Stock

3,772,583

Chicago, IL

Last update Sep '09Sources and methods - click for more info

Population

Based on Census Bureau estimates

Sep '09

9,681,449

Last update Sep '09Sources and methods - click for more info

Construction Trends

Share of permits by dwelling type

9 Months '09Share
Single-Family71%
Multifamily29%
2004-2008Avg.Share
Single-Family61%
Multifamily39%
Last update Sep '09Sources and methods - click for more info
 

Chicago Employment Trends

Employment numbers in thousands

Employment Sector No.of Jobs Last 1 Year Change Last 1 Year Job Growth Last 2 Years Change Last 2 Years Job Growth
Total 4333.5 -207.8 -4.8% -42.5 -0.9%
Construction 182.3 -30.3 -16.6% -13.3 -6.3%
Manufacturing 425.9 -42.6 -10.0% -14.1 -3.0%
Trade 687.7 -24.8 -3.6% -9.3 -1.3%
Information 83.0 -6.5 -7.8% -1.2 -1.3%
Financial Activities 294.9 -19.1 -6.5% -11.7 -3.7%
Services 1900.2 -68.4 -3.6% 4.6 0.2%
Government 563.5 -6.5 -1.2% 4.8 0.8%
Unemployed at end of period (rate) 300.2 6.2% 235.9 4.8%
Last update Sep '09Sources and methods - click for more info