With the recent ad blitz by the State of Wisconsin to recruit young Chicago professionals to move to the Badger State, our team compared four cities and housing metrics to see which state had the upper hand if you wanted to buy a home. Although Wisconsin made a compelling financial case for affordability, Chicago still seems to have the advantage for young professionals looking to capitalize on economic and housing trends.
Believe it or not, Chicago made the top 10 list of affordable housing prices for large cities.
Last week, the Chicago Tribune released survey results by Owners.com that reviewed metro markets with at least 1 million residents and the difference between home listing and sales prices in those areas compared to housing inventory. Chicago not only made the top 10 for affordable options but also boasted less competition for houses in 2017.
If you’re thinking about moving to a big city or jumping ship from another, Chicago could be a beneficial option for more reasons than one.
Chicago unemployment is down and job availability is way up.
If Chicago housing prices still seem daunting on your current salary, the city has plenty of job opportunities to help you bring in a more lucrative paycheck. According to Glassdoor, there are more than 180,000 open positions in Chicago - a 16.1% increase from last year. Keep in mind - the job openings cater towards college education and experienced workers.
What jobs are the most available? Tech, finance, and healthcare lead the charge as they have in recent years. However, non-for-profits, processional services, and manufacturing/clean energy aren’t far off. Chicago could provide you with the right professional move to take your career to the next level.
Need even more convincing? Chicago could be the home of Amazon’s second headquarters.
Last Thursday, Amazon released the list of the top 20 finalists who are in competition for Amazon’s second North American HQ. To no one's surprise, Chicago made the cut. And it doesn’t stop there, Chicago is attempting to become the Silicon Valley of the Midwest as Apple has shown interest in expanding to the Second City. There have also been multiple reports that Google - who already employs 800 engineers and sales staff in their Chicago office - is looking into creating an operations center in Chicago that could create up to 5,000 new jobs.
With a lower cost of living compared to other cities and a large, untapped talent pool, Chicago continues to draw in big company names. Settling down in the Windy City might be easier than you think.