Wednesday, March 29, 2006
Affordable Housing Shortage Likely to Get Worse
A new study released by the Voorhees Center at the University of Illinois at Chicago reveals a huge mismatch between the demand and supply of affordable housing in Chicago. Small low-income households increased over the last decade by 11,970 while rental housing affordable to their price range declined. The projected shortage in rental options is a serious concern because few low-income households can afford to buy a house in the city. The gap between demand and supply of rental housing is likely to widen further with the potential loss of existing units because of expiring contracts, condo conversion, and public housing transformation. The full 54 page study is available at this link.