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Chicago Multifamily Market Headed for Further Growth according to a new northmarq report

Chicago’s a Magnet for the Young and Affluent: Study

Chicago has gained in a key demographic over the past few years: affluent young people. An analysis of Census Bureau data shows that between 2010 and 2016, the city gained more households with total income of more than $100,000 and a head of household under age 45 than any U.S. city aside from New York.

Crain’s Chicago Business reported that this demographic trend has favorable implications in the city’s appeal to Amazon and other tech-sector employees. “The data suggest that Chicago definitely has something to offer Amazon as it narrows its search for a second headquarters: lots of emerging young talent, which has begun to earn a sizable wage, but is not yet old enough to pull in really big bucks,” Crain’s reported.

The trend also favors the development of high-end rental apartments downtown, as the market for potential renters continues to increase.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Economy
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