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EconPulse

Local economy signal dashboard

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COUNTYStable

Will County, IL

Stable overall. Housing is the clearest support signal, while jobs needs the most attention. Housing reads as affordable for a median-income household.

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Overall score64out of 100
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66
48
60
78
78

Population

701,462

Data freshness

Unknown

GDP / Output

+3.9% YoY

66

$50.3B

Output changed +3.9% in 2024.

Vintage date unknown

State growth4.3%
U.S. growth5.3%

Jobs

Unemployment rate

48

4.9%

Unemployment is 4.9% for April 2026.

Vintage date unknown

State avg5.1%
U.S. avg4.3%

Population

+1.7% 5-year

60

701,462

Population moved +1.7% over the latest ACS window.

Vintage date unknown

State population12,694,798
U.S. population334,922,499

Housing

Rent share of income

78

16.0%

Median rent consumes 16.0% of median household income: Affordable.

Vintage date unknown

State rent$1.3K
U.S. rent$1.4K
HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

Federal Funds

$5.3K per resident

78

$3.7B

$3.7B in federal obligations flowed here in FY2025.

Vintage date unknown

State total$134.6B
U.S. total$5.3T

Population and output

Trend Snapshot

Reported share

Industry Breakdown

FY2025

Federal Money

Federal obligations

$3.7B

$5.3K per resident in reported federal flow.

Top agencies

Dollars
1. Social Security Administration$3.0B
2. Department of Veterans Affairs$255.5M
3. Department of Transportation$121.2M

Top recipients

Dollars
1. ILLINOIS DEPARTMENT OF TRANSPORTATION$121.1M
2. HOUSING AUTHORITY OF JOLIET$49.6M
3. ILLINOIS STATE BOARD OF EDUCATION$20.0M

Affordable

Housing Affordability

16.0%

of median income

1BR estimate$1,199
2BR estimate$1,579
Median income$109,984
Median home value$319,600

ACS context

Quick Facts

Population

701,462

Median age

39.1

Bachelor's degree+

37.5%

Poverty rate

7.3%

Labor force participation

68.3%

Prime rate

6.8%

CPI YoY

+3.9%

U.S. GDP YoY

+5.9%

Sources and warnings

Data Provenance

Census ACS 5-year

2024

BLS LAUS / CPS

April 2026

BEA regional CAGDP1

2024

USAspending

FY2025

FRED

2026-06-10

HUD Fair Market Rent

Latest available

Data notes
  • HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

5-year compound growth

Historical Trends

Population CAGR

+0.3%

GDP CAGR

+7.1%

Federal flow

5 years

Population (5 years)
2020689,704
2021696,403
2022696,774
2023698,450
2024701,462
GDP (5 years)
2020$35.7B
2021$40.9B
2022$45.4B
2023$48.4B
2024$50.3B

2-year linear forecast

Predictive Outlook

Population forecast

2024701,462
2025704,228 *
2026706,784 *

R² = 87.5% · * projected

GDP forecast

2024$50.3B
2025$55.2B *
2026$58.9B *

R² = 96.7% · * projected

Linear regression over available historical data. Projections are estimates based on past trends and do not account for policy changes, economic shocks, or other external factors.

housing affordability breakdown

Cost of Living

Median household income$109,984/yr
Median rent$1,462/mo
Rent share of income16.0%
Est. mortgage (30yr, 6.5%)$19,393/yr
Mortgage share of income17.6%

Rent data from Census ACS 5-year. Mortgage estimate assumes 20% down, 6.5% APR, 30-year fixed.

employment snapshot

Job Market

Unemployment rate4.9%
State avg5.1%
U.S. avg4.3%
Labor force participation68.3%
Poverty rate7.3%

Data from BLS LAUS / CPS. April 2026.

valuation snapshot

Real Estate

Median home value$319,600
Median monthly rent$1,462
Price-to-rent ratio18.2x

Moderate price-to-rent ratio — buying and renting are roughly balanced in this market.

composite score

Investment Climate

Investment climateModerate
Composite score60/100
Economic growth66/100
Labor market48/100
Population momentum60/100
Overall stability64/100

Composite score weighs economic growth, labor market health, population momentum, and overall stability. Not financial advice.

Location Context

Will County, Illinois

County

Part of

Chicago-Naperville-Elgin, IL-IN

Nearby locations

Manhattan, ILNew Lenox, ILIngalls Park, ILPreston Heights, ILWilton Center, IL