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Friday, November 22, 2024

Analysis: Median home prices not keeping pace with wages in Cook County

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Wage growth is outpacing home prices in Cook County and seven other Illinois counties, according to an analysis of 432 counties nationwide by ATTOM Data Solutions in the second quarter.

Wages rose 3.1 percent in Cook County since last year. During the same period, median home prices in the county rose 1.5 percent.

Seven other Illinois counties saw median home prices outpace wages. 

Home prices and wages in Illinois counties 

CountyQ2 2018 Median Sales PriceYoY Median Home Price GrowthAnnualized Weekly WagesYoY Annualized Wage GrowthPrices Outpacing Annualized Wages?
Tazewell$124,9000.1%$52,000-11.0%YES
Kendall$215,0002.7%$39,7282.3%YES
Peoria$124,00012.7%$53,2614.3%YES
Mchenry$210,0002.9%$44,5121.2%YES
De Kalb$162,5002.8%$41,8082.8%YES
Rock Island$104,00013.0%$56,8885.6%YES
Will$214,0003.8%$46,9560.7%YES
Saint Clair$125,0000.0%$42,5232.9%NO
Madison$116,5001.3%$42,2631.4%NO
Kane$220,000-0.5%$48,6072.9%NO
Winnebago$103,000-1.6%$46,2414.6%NO
Du Page$273,0000.2%$62,7122.9%NO
Lake$248,000-1.4%$73,1123.2%NO
Cook$235,0001.5%$64,7923.1%NO
Champaign$143,250-2.6%$46,7091.0%NO
Source: ATTOM Data Solutions

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