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What Makes Chicago a Great City for Real Estate Agents

by Peter Thomas Ricci

wallethub-best-cities-for-real-estate-agents-2016-business-jobs-opportunity-growth-heat-map

Chicagoland may have fallen on the lower end of the spectrum in WalletHub’s new ranking of 2016’s best cities for real estate agents – the Windy City placed 130 out of 150 – but there remain many positives in the area’s market that will aid agent business in 2016.

WalletHub’s study considered a number of factors, including: sales per agent; annual median wage for agents; unemployment rate; home turnover rate; days on market; and building permit activity. Then, it combined those factors into two metrics – “Job Opportunity & Competition” and “Real Estate Market Heat” – and ranked metro areas in each category, with the areas’ ultimate placing coming from a weighting of those rankings; for the jobs metric, Chicago came in at No. 111, while for the market heat metric, it placed at No. 126.

What’s in a Ranking?

Of course, any ranking of the nation’s housing markets is inherently subjective, and there are many positive trends right now in Chicagoland’s housing market, including:

So despite WalletHub’s rankings, there is much to be optimistic about in Chicagoland’s housing market.

For a broader perspective on WalletHut’s study, here is how some of the nation’s largest metro areas ranked:

City Total Score “Job Opportunity & Competition” Rank “Real Estate Market Heat” Rank
Denver 57.7 3 6
Seattle 54.24 39 3
Austin 53.8 43 2
San Francisco 51.68 8 25
Boston 49.82 6 42
Houston 44.31 94 4
New York 42.77 7 119
Los Angeles 42.02 46 76
Atlanta 40.48 147 12
Dallas 39.45 113 39
Chicago 32.01 111 126
Miami 31.56 142 109

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