Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
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.
For comments, questions or concerns, please contact Paul Bubny
- ◦Economy
Get Chicago News in 150 Words
