Chicago Violence Carries $5.3M Annual Pricetag: Study


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Chicago crime doesn’t pay. It’s costly.

Despite the impact it has on victims, dealing with violent crime costs the Second City about $5.3 billion a year, according to a national study released by the Center of American Progress this week.

That figure includes “intangible costs,” like pain and suffering, as well as “direct costs” in dealing with the problem.

Researchers found that reducing current rates of murder, rape, assault, and robbery would provide a wide range of savings, based on a 2010 study of eight cities, including Chicago.

The Center said violent crimes cost Americans more than $42 billion per year. Those costs include policing, arresting and prosecuting perpetrators, correctional facilities, out-of-pocket-medical expenses by victims and lost earnings by both victims and perpetrators.

A 25 percent reduction in homicides would increase Chicago’s home values by $5.5 billion the study said.

Other cities included in the study are Boston, Dallas, Houston, Jacksonville, Milwaukee, Philadelphia, and Seattle.  

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